Dashboard

Solid News

ASX 200 , Australian Stock Market Shows Steady Growth

2/8/2023 1:21 PM

The leading index of the Australian economy, the ASX 200, shows an upward trend, trading near the 7533.0 mark.

The stock index of the Australian market is correcting after reaching another high around 7550.0, which was last reached in March 2022. This happened against the background of the decision of the Reserve Bank of Australia (RBA) to continue raising the interest rate at a reduced pace, increasing it by 25 basis points to 3.35%. Prior to the meeting, the head of the regulator, Philip Lowe, spoke about the need to continue tightening monetary conditions at least at a minimal pace.

The downward correction in the Australian bond market has been somewhat delayed: 10-year Treasury securities are trading at a rate of 3.621%, having added 0.19% relative to the close of trading yesterday, the yield rate on 20-year bonds was 3.984%, having added 0.38%, and the yield on 30-year debt securities was 3.972% after 3.942%.

The growth leaders in the index are Boral Ltd. (+12.78%), Austal Ltd. (+5.52%), Suncorp Group Ltd. (+4.57%), Adbri Ltd. (+4.35%).

Among the leaders of the decline are Polynovo Ltd. (-12.08%), Elders Ltd. (-5.86%), Healius Ltd. (-5.37%), Region Re Ltd. Unit (-3.37%).


On the daily chart, the price remains in the global corridor, rising in the direction of the resistance line at 7750.0.

Technical indicators maintain a stable buy signal: the fast EMAs of the alligator indicator are at a considerable distance from the signal line and are in no hurry to start approaching, and the histogram of the AO oscillator forms correction bars, while being high in the buy zone.

Support levels: 7460.0, 7280.0. | Resistance levels: 7580.0, 7750.0.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Mail Us
[email protected]
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024 SolidECN.com