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Comment of the Day

October 08 2012

Commentary by Eoin Treacy

Email of the day

on Australia's rate cut:
“Could you update the "Reserve Bank of Australia Cash Rate Target" in the chart library as the RBA cut rates in Australia earlier this month? Thanks!”

Eoin Treacy's view Thank you for this suggestion which has now been implemented. I update the Australian cash rate manually since they changed the calculation methodology a few years ago. This ensures that the longest possible back history is preserved.

The Australian stock market has responded positively to continued easing and while somewhat overbought in the very short-term a sustained move below 4350 would be required to question the more than four-month uptrend.

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