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Market Opener – 02 Jan 2018
Local Markets Commentary
The Australian market opens 2018 trade following influential China data released over the weekend ahead of more due today, and with key regional markets remaining closed.
China’s official December manufacturing and services PMIs, reported over the weekend, came in at 51.6 and 55.0 respectively, versus 51.8 and 54.8 for November.
Caixin is due to publish its China December manufacturing PMI 12.45pm AEDST.
Locally pre-trade, AiG is due to report its December manufacturing activity index.
A December residential property price report is also expected today.
In mixed overnight Friday commodities trade, US gold futures and oil rallied. Iron ore (China port, 62% Fe) also gained.
LME copper and aluminium turned lower. Nickel continued Thursday’s strong gains.
The $A moved nominally after appreciating to ~US 78.10c early Friday evening.
Markets in China and New Zealand are closed today due to public holidays.
Japan’s markets are closed both today and tomorrow, due to public holidays.
Overseas Market Commentary
Major European and US equities markets settled largely lower in mostly shortened and quiet trading sessions overnight Friday, amid some continued end-of-year profit-taking following several notable market gains.
US equities ended 2017 with their best gains in four years, the S&P 500 adding 19.5%, the DJIA 25.2% and the NASDAQ exchange 28.2%.
The FTSE 100 appreciated 7.6% and the DAX 30 12.5%.
Among Friday data releases, Germany’s initial December CPI growth reading came in at 0.6% for the month and 1.7% annually against
Tonight in the US, a final Markit-calculated December manufacturing PMI is due.
The Australian market opens 2018 trade following influential China data released over the weekend ahead of more due today, and with key regional markets remaining closed.
China’s official December manufacturing and services PMIs, reported over the weekend, came in at 51.6 and 55.0 respectively, versus 51.8 and 54.8 for November.
Caixin is due to publish its China December manufacturing PMI 12.45pm AEDST.
Locally pre-trade, AiG is due to report its December manufacturing activity index.
A December residential property price report is also expected today.
In mixed overnight Friday commodities trade, US gold futures and oil rallied. Iron ore (China port, 62% Fe) also gained.
LME copper and aluminium turned lower. Nickel continued Thursday’s strong gains.
The $A moved nominally after appreciating to ~US 78.10c early Friday evening.
Markets in China and New Zealand are closed today due to public holidays.
Japan’s markets are closed both today and tomorrow, due to public holidays.
Overseas Market Commentary
Major European and US equities markets settled largely lower in mostly shortened and quiet trading sessions overnight Friday, amid some continued end-of-year profit-taking following several notable market gains.
US equities ended 2017 with their best gains in four years, the S&P 500 adding 19.5%, the DJIA 25.2% and the NASDAQ exchange 28.2%.
The FTSE 100 appreciated 7.6% and the DAX 30 12.5%.
Among Friday data releases, Germany’s initial December CPI growth reading came in at 0.6% for the month and 1.7% annually against
Tonight in the US, a final Markit-calculated December manufacturing PMI is due.