Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 16 Apr 2019
Local Markets Commentary
The Australian market commences today’s trade on lacklustre overnight international equities, and mostly negative commodities, trade leads, ahead of Reserve Bank of Australia (RBA) 2 April policy meeting minutes.
In overnight commodities trade, oil swung lower.
US gold futures (June) turned to settle with a modest decline.
Iron ore (China port, 62% Fe) fell.
LME copper and most key base metals also turned lower.
The $A effectively trod water after trading at ~US71.70c early yesterday evening.
Locally today, the RBA publishes the minutes of its April July policy meeting, the official statement from which suggested an open approach to whether policy ought ease or tighten. The minutes are expected 11.30am AEST.
A weekly consumer sentiment reading is due pre-trade.
Regionally today, Indonesia preparations continue for the general election polling day tomorrow.
Some economists anticipate China’s March property prices anytime from late morning today, ahead of a batch of key data tomorrow.
NB This week, markets in Australia, Hong Kong and New Zealand will be closed Friday, due to Easter.
In overnight commodities trade, oil swung lower.
US gold futures (June) turned to settle with a modest decline.
Iron ore (China port, 62% Fe) fell.
LME copper and most key base metals also turned lower.
The $A effectively trod water after trading at ~US71.70c early yesterday evening.
Locally today, the RBA publishes the minutes of its April July policy meeting, the official statement from which suggested an open approach to whether policy ought ease or tighten. The minutes are expected 11.30am AEST.
A weekly consumer sentiment reading is due pre-trade.
Regionally today, Indonesia preparations continue for the general election polling day tomorrow.
Some economists anticipate China’s March property prices anytime from late morning today, ahead of a batch of key data tomorrow.
NB This week, markets in Australia, Hong Kong and New Zealand will be closed Friday, due to Easter.
Overseas Market Commentary
Choppy and/or swinging trade featured across most major European and US equities markets overnight, indicating general caution.
Some large financial stock earnings disappointed in the US, ahead of further high-profile stock reports plus influential data releases this week.
Additional US-China trade negotiation ‘progress’ comments and concession reports from the weekend appeared to exert little influence on trade, with China economic indicator updates, and new US trade figures, particularly anticipated this week.
Among scant overnight data releases, a New York region manufacturing index jumped to 10.1 from 3.7.
Tonight in the US, March industrial production and a home builders’ sentiment index are due.
Stocks scheduled to report earnings include: Bank of America, Blackrock, CSX, IBM, Johnson & Johnson, L’Oreal, Netflix and UnitedHealth.
In overnight corporate news, Goldman Sachs and Citigroup’s quarterly profits exceeded expectations, but revenue undershot industry forecasts, dampening early DJIA sentiment.
NB Major European and US markets will be closed Friday for Easter.
Some large financial stock earnings disappointed in the US, ahead of further high-profile stock reports plus influential data releases this week.
Additional US-China trade negotiation ‘progress’ comments and concession reports from the weekend appeared to exert little influence on trade, with China economic indicator updates, and new US trade figures, particularly anticipated this week.
Among scant overnight data releases, a New York region manufacturing index jumped to 10.1 from 3.7.
Tonight in the US, March industrial production and a home builders’ sentiment index are due.
Stocks scheduled to report earnings include: Bank of America, Blackrock, CSX, IBM, Johnson & Johnson, L’Oreal, Netflix and UnitedHealth.
In overnight corporate news, Goldman Sachs and Citigroup’s quarterly profits exceeded expectations, but revenue undershot industry forecasts, dampening early DJIA sentiment.
NB Major European and US markets will be closed Friday for Easter.