Solid News

ASX 200 Market Update

9/14/2022 2:29 PM

The leading index of the Australian economy, the ASX 200, is trading around 6840.0, being under pressure from the increasing upward dynamics in the bond market: the yield of popular 10-year treasury securities adjusted to 3.657% from 3.566%, conservative 20-year ones – to 3.950% from 3.884%, and global 30-year ones – to 3.921%. from 3.856%.

In turn, the Australian labor market shows positive results, which, however, could not reverse the current trend in the asset: the total number of jobs in Q2 increased by 2.5% to 15.5M, and the number of filled vacancies — by 2.2%, amounting to 15.0M, while the share of unfilled positions reached 3.1%. The number of residents of the country occupying several jobs also increased to 898.9K, exceeding the figure of Q1 by 4.3%.

The growth leaders in the index are Resolute Mining Ltd. (+3.85%), Mesoblast Ltd. (+3.83%), Computershare Ltd. (+1.19%), Whitehaven Coal Ltd. (+0.24%).

Among the leaders of the decline are Megaport Ltd. (-10.36%), Clinuvel Pharmaceuticals Ltd. (-6.91%), Gold Road Resources Ltd. (-7.19%), Zip Co., Ltd. (-5.88%).

The asset is held in the ascending channel, having reached the support line. Technical indicators have reversed and given a signal for the start of active sales: the fast EMAs of the alligator indicator are below the signal line, and the histogram of the AO oscillator forms ascending bars while being deep in the sales zone.

Support levels: 6754.0, 6577.0. | Resistance levels: 6917.0, 7130.0.

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