Last quote by Mathan Somasundaram
Mathan Somasundaram quotes
It is basically a relief rally from yesterday.
I don't really think there's really a catalyst in the market at the moment. People are waiting for guidance because the market lacks any real sentiment to go in either direction. Traders will closely follow Federal Reserve Chair Janet Yellen's speech to a global central bankers' gathering in Jackson Hole on Friday.
I think it's a bit of biding your time and markets are basically sitting around trying to work out what's going to come through. We've got deflationary pressures in New Zealand and that's an obvious read-through to Australia, where inflation figures are due next week and the expectations are that will be weak and we will get a rate cut.