Bullish euphoria following April’s better-than-expected employment report is still driving markets higher with the S&P 500 Index continuing its ascent into previously uncharted territory beyond the 1,600 level. With no major economic data releases taking place yesterday its clear that investor confidence is thriving from stimulus hopes following last week’s European Central Bank rate cut along with the Fed’s continuation of its monthly bond-repurchases initiative [Download 101 ETF Lessons Every Financial Advisor Should Learn]. Given that the Reserve Bank of Australia cut rates from 3.00% to 2.75% yesterday, our ETF to watch is the CurrencyShares Australian Dollar Trust as it will look to hold above a major support level ahead of Australia’s monthly employment report slated to come out this evening. Analysts are expecting for Australia’s unemployment rate to hold at 5.6%, while jobs are expected to increase by 11,000 versus last month’s decrease of 36,100 [see also How To Invest Overseas Without Currency Risk]. [...] Click here to read the original article on ETFdb.com. Related Posts: How Volatile Is Your Currency ETF? ETF Insider: Up, Up, And Away The Ultimate Guide To Currency ETF Trading ETF Insider: Bears Lurking In Uncharted Territory Country vs. Basket: Which Currency ETF Strategy Is Right For You?
Bullish euphoria following April’s better-than-expected employment report is still driving markets higher with the S&P 500 Index continuing its ascent into previously uncharted territory beyond the 1,600 level. With no major economic data releases taking place yesterday its clear that investor confidence is thriving from stimulus hopes following last week’s European Central Bank rate cut along with the Fed’s continuation of its monthly bond-repurchases initiative [Download 101 ETF Lessons Every Financial Advisor Should Learn]. Given that the Reserve Bank of Australia cut rates from 3.00% to 2.75% yesterday, our ETF to watch is the CurrencyShares Australian Dollar Trust as it will look to hold above a major support level ahead of Australia’s monthly employment report slated to come out this evening. Analysts are expecting for Australia’s unemployment rate to hold at 5.6%, while jobs are expected to increase by 11,000 versus last month’s decrease of 36,100 [see also How To Invest Overseas Without Currency Risk]. [...]
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