The Aussie share market is set to open higher, with the futures suggesting the market will rise 0.2%.
What to watch today:
- The 15 day moving average has just nudged above the 30 day moving average. This indicates a technical uptrend is forming. But, as the moving averages lines are virtually on top of each other, the market could go either way from here.
- In economic news, GDP data will be released today.
- The RBA forecasts GDP for the full year to be 4.75%. Banks expect unemployment to fall to 5% this year. Bond yields will likely rise.
- Iron ore price rose 4.1%, heading back to its all time high. Watch Mineral Resources (ASX:MIN).
- Most traded stocks by Bell Direct clients yesterday: Fortescue Metals (ASX:FMG) & Magnetite Mines (ASX:MGT).
- GenusPlus Group (ASX:GNP) had its price target upgraded by Bell Potter, with a new $1.25 target, following yesterday’s 6% jump.
- BUBs Australia (ASX:BUB), Ava Risk Group (ASX:AVA) Atomos (ASX:AMS) are all giving off bullish charting signals according to Trading Central.