An important night for markets - US & European equities rally, China finishes yesterday relatively flat, ASX futures up 23 points

While the turn higher in markets last night wasn't particularly sharp, it will help bolster the buying support that exists on the ASX 200 above 5,500. Today's first chart shows the ASX 200 index CFD that continues to break sideways out of its previous downward trend channel, and--as indicated by the red line--we're back marginally above the 200-day moving average. It's early days for this move out of the down-trend, but nonetheless promising for short-term traders who are seeking evidence to support buying opportunities.

The risk-on move last night didn't end with equity markets. A quick look at Rivkin's Global Markets Matrix will show that commodity markets had a stronger night and most major currency pairs that traded against the US dollar enjoyed support, despite a strengthening US dollar index. The S&P 500 Volatility Index (VIX) dropped back down to a reading of 13.44, and copper and iron ore had 2%+ gains.

In today's last chart I've shown the big four Australian banks (CBA, NAB, WBC and ANZ) climbing higher since the rising bond yield theme and foreign headwinds went against them earlier in the year. Traders may well look to chase these positions back to their 2015 highs if the broader market can support such bullish behaviour - not a bad looking theme if you can continue to ride the trend and move stops higher as you go.

Future Generation Global Investment Company (FGG) application details remain at the bottom of today's update, still time to get into this opportunity.

Source: Rivkin, Saxo Bank

To view the Rivkin economic calendar and Global Markets matrix, members can click here.

How to apply for the FGG IPO

As was the case with Future Generation Investment Company (FGX), Rivkin will be working with its broking partner CMC Markets in donating the broker stamping fees to charities associated with the investment company’s cause – in this case, youth mental health and homelessness.

With this in mind, we strongly urge you to follow the following steps accurately so Rivkin can add to the philanthropic nature of this IPO.

  1. Visit http://www.futuregeninvest.com.au/Global/prospectus.pdf to download and read the prospectus
  2. IMPORTANT: complete the Broker Firm Application Form on page 87 of the prospectus, this way we can donate the stamping fees
  3. Ensure you have sufficient funds in your Rivkin Securities stockbroking account to pay for the stock
  4. Enter the Broker Code 02662
  5. Enter the Adviser Code 0001
  6. Email your application to customerservice@rivkin.com.au or post it to:

Rivkin Securities FGG Offer
Po Box 1524
Double Bay 1360

Don’t have a Rivkin Securities stockbroking account? Open one now by emailing customerservice@rivkin.com.au (your Relationship Manager will call you back and pre-fill forms etc.) or phoning 1300 748 546. Our online brokerage is $11.00 or 0.11%, $9.90 or 0.11% for SMSFs that use Rivkin Super. PLUS we go the extra mile and donate non-core earnings like broking fees from this IPO to charity. You’re doing yourselves a favour and doing those in need a favour by getting involved.

This article was written by Scott Schuberg, CEO of Rivkin Securities Pty Ltd. Enquiries can be made via info@rivkin.com.au or by phoning +612 8302 3600.

Complex product warning

This article contains information about foreign exchange contracts, which are considered complex financial products. Please click here to read ASIC's foreign exchange trading article before considering an investment in foreign exchange contracts. 

This article contains information about CFDs, which are considered complex financial products. Please click here to read ASIC's "Thinking of trading contracts for difference?" document before considering an investment in CFDs.
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