Aussie market breaks even

Despite a positive start this morning, the Aussie market has faded and now sits around break-even.

The bulls had defied the global leads early but the buying momentum has waned.

“Banks drove the early gains but have since faded,” said Australian Stock Report Head of Research, Chris Conway.

“While the miners and oilers are slightly disappointing after commodities held up overnight,”

Conway noted that traders and investors are still weary of China.

“Heading into the end of the week traders and investors are weary and still concerned about China and the ongoing Fed lift-off conversation,”

“Caution seems to be the better part of valor at the moment and we expect that will remain the case for the foreseeable future,” added Conway.

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