Local Markets Commentary

Australian market participants will have plenty to consider on the first session of a new trading week, in addition to key commodity price swings overnight Friday.

Regionally today, China is due to release October industrial production, retail sales and fixed assets investment ~1pm AEDST.

Japan is expected to release an initial September quarter GDP estimate ~10.50am. Bank of Japan governor Haruhiko Kuroda is also due to speak publicly midday.

In overnight Friday commodities trade, gold and oil dropped. Copper swung lower. Iron ore approached $US80/t, rallying at yet faster pace.

The $A traded below US75.50c after slipping beneath US76.0c early Friday evening.

Locally today, the ABS publishes September lending finance 11.30am.

New Zealand has suffered a major earthquake overnight. This could impact sentiment towards insurers and New Zealand-headquartered retailers.

Overseas Market Commentary

Trade across major European and US equities markets varied markedly overnight Friday, Veteran’s Day in the US.

Germany’s final October CPI reading was confirmed 0.2% higher for the month and 0.8% year-on-year.

In the US, the University of Michigan’s 91.6 initial November consumer sentiment reading bettered average forecasts by ~four points.

Euro zone September industrial production is tonight’s highest profile scheduled data release.

Autohome, Lonmin, Mitsubishi FXJ, RWE and Tata Motors are scheduled to report later today and tonight.

Overnight Friday, US department store JC Penney reported a 1.4% pull back in quarterly sales together with a consecutive year-on-year loss, lowering its 2016 sales forecast, one day after Macy’s and Kohl’s also reported falling sales.

Earlier, China’s online specialist Alibaba reported strong singles’ day sales.