🔥Index Prediction: Guess Where the ASX200 Index Is Likely to Move This Week?
Guess where the $S&P/ASX 200(XJO.AU)$ may move this week? If you get the right answers, you can share 3000 Tiger Coins with other Tigers. Also, the first person who posts the right answers in the comments area gets 888 Tiger Coins!
Australia's central bank raised its key cash rate by a surprisingly large 50 basis points to 0.85% on Tuesday and signaled yet more tightening would be needed as it battles to restrain surging inflation.
It’s the biggest one-month increase in the official cash rate since February 2000 and only the second rise since November 2010. It also exceeded economists' expectations. Economists and banks had expected a step-up of either 0.25 or 0.4 percentage points to address inflation.
The S&P/ASX 200 is down 1.7 per cent at 7087.2 following the move, after being down around 1 per cent prior to the announcement.
Do you think it is a good time to buy a dip or to sell? Guess where theASX200 Index may move this week?
💰Activity Details
- Click to vote. Guess where the ASX200 Index may move this week? If you get correct answers, you can share 3000 tiger coins with your friends.
- Leave your answer in the comment section below. Predict the closing price of $S&P/ASX 200(XJO.AU)$ on 10th June (Friday)
- Please round your answer to the nearest whole number! The first person who posts the right answers in the comments area gets 888 Tiger Coins
The event will last until 10 o'clock on 10th June (Friday)
Guess Where the ASX200 Index Is Likely to Move This Week?(Single choice)Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
With the latest interest rate rise of 50bp by the Reserve Bank of Australia (RBA), there is pressure on the share market prices as it will be more expensive for companies to borrow money to grow their business.
Interest rate rises generally have a negative impact on the stock market.
I predict that the ASX200 will close at 7093 on Friday.
@Tiger_AU