Research

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Before making any investment decision, you should consult your adviser.

State One Market Opener - 22 Sep 2016

 
Local Markets Commentary

The Australian market opens following overnight US equities, gold and oil rallies.

Since the close of US trade however, the US government has revealed its troops may have been targeted in a chemical-laden rocket attack in Iraq.

In other commodities trade, copper turned and fell. Iron ore rose slightly.

The $A surpassed US76.3c after approaching ~US76.0c yesterday evening.

Locally today, further detail will be released by the ABS regarding August workforce statistics. The ABS will also publish March quarter demographic statistics.

Several high-profile and large-cap stocks trade ex-dividend today.

This morning the Reserve Bank of New Zealand has retained a 2.0% cash rate.

Japan’s markets will not trade today due to a public holiday.

Overseas Market Commentary

Major European equities markets avoided declines overnight and US indices rallied in the last 90 minutes of trade, after the Bank of Japan targeted a 0% floor for 10-year sovereign bond yields, and the US Federal Reserve opted not to raise rates this month.

The Federal Reserve statement argued an improving case for raising rates in the near-term, however, and three monetary policy committee members voted for a September rise.

Tonight in the US, weekly new unemployment claims are due, together with August existing home sales, a house price index, the Chicago national activity index, a regional manufacturing index and a leading indicators report.

In Frankfurt, a European Systemic Risk Board conference will be addressed by chairman (and European Central Bank president) Mario Draghi.

 
22/09/2016 7:47:52 AM

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