Autumn Market Update
This quarter the ‘Cyprian Crisis’ has been the next concern to emerge in the global economy and has caused some minimal downside in the markets however they are still tracking ahead and the market closed end of March just below 5000 points at 4979 and the ASX 200 Index closed at 4988.
Expectation for the year is that the market will still finish at around 5500 in January 2014 but we are likely to continue to see some volatility in the markets along the way.
The risk of a meltdown in Europe is becoming less likely but we will continue to see some flare up’s along the way but expectation is that growth will return to Europe in the later part of this year or early 2014.
Over the next few weeks we will see the release of some important economic data here in Australian and the US around retails sales and building approvals.
The US Economy is continuing to strengthen, led by improved housing sector and business investment with strong profits being reported and improvements in unemployment levels.
In China it appears economic growth has levelled out but will continue to report 8% annual growth which is still over double that of Australia’s expectation.
Asset allocation within portfolio management and setup will remain important and having a well diversified approach will continue to provide solid returns for investors.
If you need assistance in exploring these further talk to a professional but most importantly start your journey to being free around your money and creating wealth with understanding.
Scott Malcolm (email@example.com) is Director of Money Mechanics (ph: 6257 5557) a fee for service advice firm who are authorised to provide financial advice through PATRON Financial Advice AFSL 307379.
The information provided on this article is of a general nature only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information you should consider its appropriateness having regard to your own objectives, financial situation and needs.