Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 19 Sep 2017
Local Markets Commentary
Positive overnight international equities trade could support the Australian market today.
In overnight commodities trade however, US gold futures fell, extending the latest decline but remaining above $US1310/oz. WTI crude almost settled flat again, but Brent pulled back a little. LME copper settled modestly higher and nickel turned to rally again. Iron ore continued lower.
The $A dropped well below US80.0c after approaching US80.10c early yesterday evening.
Locally today, the Reserve Bank of Australia (RBA) releases the minutes of this month’s policy meeting at 11.30am AEST.
The ABS is also due to publish a June quarter residential property price report.
Pre-trade, a weekly consumer sentiment reading is due.
Overseas Market Commentary
Major European and US equities markets notably settled higher in chorus overnight, but not without some vacillation. US trade in part received support from research reports promoting the likes of Nvidia and Caterpillar.
Bank of England governor Mark Carney told an International Monetary Fund (IMF) event that he expected UK inflation to rise and economic growth to slow, at least initially, due to the UK’s plan to leave the European Union.
Euro zone August CPI was confirmed in a final reading at 1.5% annual growth and 0.3% for the month, following 1.3% and -0.5% respectively in July.
A US home builders’ (NAHB) sentiment index fell four points to 64.
Tonight in the US, the Federal Reserve commences a two-day policy meeting after which a statement will be issued and a press conference hosted by chair Janet Yellen, early Thursday AEST.
August housing starts, building permits and export and import prices are also due.
In overnight corporate news, Northrop Grumman revealed a $US7.8B cash deal to buy missile manufacturer Orbital ATK.
Teva Pharmaceuticals announced it was offloading its women’s health division, in two separate components, to QVC Capital and Foundation Consumer Healthcare for a total $US1.38B.
Positive overnight international equities trade could support the Australian market today.
In overnight commodities trade however, US gold futures fell, extending the latest decline but remaining above $US1310/oz. WTI crude almost settled flat again, but Brent pulled back a little. LME copper settled modestly higher and nickel turned to rally again. Iron ore continued lower.
The $A dropped well below US80.0c after approaching US80.10c early yesterday evening.
Locally today, the Reserve Bank of Australia (RBA) releases the minutes of this month’s policy meeting at 11.30am AEST.
The ABS is also due to publish a June quarter residential property price report.
Pre-trade, a weekly consumer sentiment reading is due.
Overseas Market Commentary
Major European and US equities markets notably settled higher in chorus overnight, but not without some vacillation. US trade in part received support from research reports promoting the likes of Nvidia and Caterpillar.
Bank of England governor Mark Carney told an International Monetary Fund (IMF) event that he expected UK inflation to rise and economic growth to slow, at least initially, due to the UK’s plan to leave the European Union.
Euro zone August CPI was confirmed in a final reading at 1.5% annual growth and 0.3% for the month, following 1.3% and -0.5% respectively in July.
A US home builders’ (NAHB) sentiment index fell four points to 64.
Tonight in the US, the Federal Reserve commences a two-day policy meeting after which a statement will be issued and a press conference hosted by chair Janet Yellen, early Thursday AEST.
August housing starts, building permits and export and import prices are also due.
In overnight corporate news, Northrop Grumman revealed a $US7.8B cash deal to buy missile manufacturer Orbital ATK.
Teva Pharmaceuticals announced it was offloading its women’s health division, in two separate components, to QVC Capital and Foundation Consumer Healthcare for a total $US1.38B.