It was a ocean of red for US indicators overnight, with the Dow Jones entering a specialized correction and all three major marks hittingmulti-month lows. 

 Wall Street’s sell-off boosted with a ocean of red hitting dealer’s defenses and dealing into the close. The S&P 500 fell to its smallest position since June and closed at the low of the day. The Dow Jones entered a specialized correction by closing-10 below its record high. Maybe commonly, Asian futures point lower which points to a weak open for the ASX. 

 

 ASX 200 

The ASX 200 has done well to hold up this week, but it’s not outstripping neither. Its modest gain scraped a close above 7200 but is likely to face farther headwinds moment with Wall Street trading and ASX futures pointing lower. And whilst the technology sector enjoyed its stylish day in 9 with a 2 rally, they may be old chapeau again moment with the Nasdaq plunging to a 9-monthlow.However, accoutrements and healthcare sectors continue hold up (which regard for around 60 of the indicator) also there ’ll be no Armageddon on the ASX, If financials. But investors would be wise to remain nimble and keep prospects for a sustainable rally in check. 

 

 NZD and Irk is where the action is 

 The Russian rouble came back under attack and fell to its smallest position in 23-months. With warrants hitting Russia left right and centre, investors are really questioning if they want their plutocrat situated in the country and which, if any, stocks they want to be holding. USD/ Irk rose to a high of81.80 before pulling back to81.04. 


 As for FX majors, NZD retained its top spot after history’s hawkish hike from RBNZ. The Australian bone has had a great run but it has (or is close to) hitting resistance against CAD, CHF, EUR and JPY. Capex data is out at 1130 AEDT, although it's debatable as to how important of a request transport it'll be. 

 

 The yearning has lost its safe- haven appeal as the rout appears confined to equities and the Russian rouble. We ’re keeping an eye on a implicit long for USD/ JPY as its trying to sculpt out a low around114.50. Support has been plant near the61.8 Fibonacci position and 50- day eMA and a bullish gulfing formed. Our bias is bullish above the114.50 low although tighter threat- operation could be considered using the114.70 low or 50- day eMA. A break above Tuesday’s high assumes bullish durability and brings115.50 into focus for bulls, ahead of116.0. 


 Gold Smudged, but not scratched 

. Gold continues to maunder around$ 1900. We allowed it was beginning to lose its shine this time history, but it now looks like further of a smirch. There’s no compelling reason to suddenly it with geopolitical pressures lurking in the corner, but some investors are likely avoiding buying at these situations after a7.5 rally into resistance, without a fresh catalyst to drive it above the 1916 – 1920 region. 

 Canvas slides sideways 

 Canvas does n’t relatively know that to do with itself. It’s closed around91.90 these once two days with failed attempts to hold onto intraday rallies and selloffs. Like gold it’s had a great run but, until instigation tips its hand, it’s a pass for us over the near- term.