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State One Market Opener - 05 Sep 2016
Local Markets Commentary
The Australian market commences a new week’s trade amid a plethora of local data and some key regional figures.
Locally pre-trade, AiG releases its August services sector activity index.
Inflation, job advertisements, business indicators and vehicle sales reports are also due today, ahead of the Reserve Bank of Australia’s (RBA) policy meeting tomorrow.
Stocks trading ex-dividend today include PPT, SDA, SKI and SUL.
Also today, Caixin is due to release its final August services PMI estimate for China 11.45am AEST. Japan is expected to release an August services PMI 10.30am. The Bank of Japan’s governor is due to speak publicly 12.30pm.
In overnight Friday commodities trade, oil rallied and gold swung higher. LME copper settled slightly lower. Iron ore turned to recoup Thursday’s losses.
The $A was pushed past US75.70c after trading at ~US75.45c early Friday evening.
Some caution could be noted in late-trade today, due to a public holiday in the US which will keep markets closed tonight.
The G20 leaders’ summit which commenced in China yesterday, is due to conclude later today.
Overseas Market Commentary
Major European and US markets settled higher overnight Friday, some sentiment boosted by reduced expectations of a US rate rise by the end of the month.
The US August jobs report estimated 151,000 jobs were created, ~30,000 fewer than forecast, and that unemployment remained at 4.9%. The July jobs total was raised 20,000 and the July tally lowered 21,000.
Average hourly earnings were reported 0.1% higher.
In other US data releases, July factory orders rose 1.9% following a 1.8% drop in June.
July trade figures produced an 11.6% lower, $US39.5B deficit, against expectations of $US41.3B - $US42.7B.
The ISM NY business conditions index disappointed, dropping 13.2 to 47.5.
In the euro zone, July producer prices rose 0.1% for the month, coming in 2.8% lower for the year.
A UK construction PMI appeared to please, improving 3.3 to 49.2.
Services PMIs are due for major Asian and European economies today and tonight.
US markets will not trade tonight due to a public holiday.
The Australian market commences a new week’s trade amid a plethora of local data and some key regional figures.
Locally pre-trade, AiG releases its August services sector activity index.
Inflation, job advertisements, business indicators and vehicle sales reports are also due today, ahead of the Reserve Bank of Australia’s (RBA) policy meeting tomorrow.
Stocks trading ex-dividend today include PPT, SDA, SKI and SUL.
Also today, Caixin is due to release its final August services PMI estimate for China 11.45am AEST. Japan is expected to release an August services PMI 10.30am. The Bank of Japan’s governor is due to speak publicly 12.30pm.
In overnight Friday commodities trade, oil rallied and gold swung higher. LME copper settled slightly lower. Iron ore turned to recoup Thursday’s losses.
The $A was pushed past US75.70c after trading at ~US75.45c early Friday evening.
Some caution could be noted in late-trade today, due to a public holiday in the US which will keep markets closed tonight.
The G20 leaders’ summit which commenced in China yesterday, is due to conclude later today.
Overseas Market Commentary
Major European and US markets settled higher overnight Friday, some sentiment boosted by reduced expectations of a US rate rise by the end of the month.
The US August jobs report estimated 151,000 jobs were created, ~30,000 fewer than forecast, and that unemployment remained at 4.9%. The July jobs total was raised 20,000 and the July tally lowered 21,000.
Average hourly earnings were reported 0.1% higher.
In other US data releases, July factory orders rose 1.9% following a 1.8% drop in June.
July trade figures produced an 11.6% lower, $US39.5B deficit, against expectations of $US41.3B - $US42.7B.
The ISM NY business conditions index disappointed, dropping 13.2 to 47.5.
In the euro zone, July producer prices rose 0.1% for the month, coming in 2.8% lower for the year.
A UK construction PMI appeared to please, improving 3.3 to 49.2.
Services PMIs are due for major Asian and European economies today and tonight.
US markets will not trade tonight due to a public holiday.