Research

Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.

Market Opener – 03 Jul 2019

 
Local Markets Commentary
The Australian market opens mid-week trade following vacillating overnight international equities trade, ahead of key regional and domestic data today, and shortened trade in the US tonight on the eve of the 4 July Independence Day holiday.

Since overnight trade, European Union leaders have approved leadership appointments for the European Commission and European Central Bank.

IMF MD and former finance minister for France Christine Lagarde will take over as president of the European Central Bank when Mario Draghi’s term expires, and Germany’s defence minister Ursula von der Leyen will be European Commission president.

Ms von der Leyen takes over from Jean Claude Juncker.

Locally today, the Australian Bureau of Statistics publishes May trade balance and building approvals 11.30am AEST.

Pre-trade, the AiG is due to release its June services sector activity index.

Regionally today, Caixin is expected to publish its June services sector activity index for China 11.45am AEST.

In overnight commodities trade, oil tumbled.

US gold futures (August) rallied.

Iron ore (China port, 62% Fe) recorded another strong gain, trading beyond $US123.00/t.

LME copper, nickel and aluminium continued lower.

The $A has traded at ~US69.95c this morning after swinging between ~US69.80c - ~$US69.90c early yesterday evening.
 
3/07/2019 8:00:00 AM

Back to top