October 02, 2012 at 04:00 AM EDT
Tuesday’s ETF Chart To Watch: CurrencyShares Australian Dollar Trust (FXA)
Major equity indexes kicked off the week on a positive note as encouraging economic data on the home front bolstered investors’ confidence. Buying pressures emerged at the open bell as ISM data topped analyst expectations; this month’s figure came in at 51.5 versus the previous reading of 49.7, marking a healthy increase in domestic manufacturing activity. Worse-than-expected construction spending data released later in the day went largely unnoticed; this figure contracted by 0.6% in August after contracting 0.4% the previous month [see ETF Insider: Technicals Favor Stocks]. With no major economic data releases on the home front today, investors will focus their attention on the latest Reserve Bank of Australia rate decision. As such, our ETF to watch for the day is the Rydex CurrencyShares Australian Dollar Trust (FXA, A) which could attract volatile trading following the overnight reaction to the interest rate decision. Analysts are largely expecting for the benchmark rate to remain unchanged at [...] Click here to read the original article on ETFdb.com. Related Posts: Tuesday’s ETF Chart To Watch: CurrencyShares Australian Dollar (FXA) Tuesday’s ETF Chart To Watch: CurrencyShares Australian Dollar Trust (FXA) ETF Insider: No News Could Be Good News Australia ETFs: 9 Ways To Play ETF Insider: Run For The Hills
Major equity indexes kicked off the week on a positive note as encouraging economic data on the home front bolstered investors’ confidence. Buying pressures emerged at the open bell as ISM data topped analyst expectations; this month’s figure came in at 51.5 versus the previous reading of 49.7, marking a healthy increase in domestic manufacturing activity. Worse-than-expected construction spending data released later in the day went largely unnoticed; this figure contracted by 0.6% in August after contracting 0.4% the previous month [see ETF Insider: Technicals Favor Stocks]. With no major economic data releases on the home front today, investors will focus their attention on the latest Reserve Bank of Australia rate decision. As such, our ETF to watch for the day is the Rydex CurrencyShares Australian Dollar Trust (FXA, A) which could attract volatile trading following the overnight reaction to the interest rate decision. Analysts are largely expecting for the benchmark rate to remain unchanged at [...]

Click here to read the original article on ETFdb.com.

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