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Before making any investment decision, you should consult your adviser.
Market Opener – 04 Dec 2017
Local Markets Commentary
The Australian market commences a new week’s trade on positive international commodities trade leads ahead of a week full of influential data releases.
The US president has appeared increasingly roiled overnight however, by the investigation into alleged Russian influence on the election campaign, events from which produced volatility across major equities markets overnight Friday.
In overnight Friday commodities trade, oil, iron ore, LME copper and other key base metals rallied.
The $A was ultimately propelled higher. Through early Friday evening, it had briefly slipped below ~US75.60c before appreciating beyond US75.90c.
Locally pre-trade, CoreLogic publishes weekly capital city residential property prices.
The ANZ also publishes November job advertisements and TD Securities and the Melbourne Institute an inflation report today, ahead of the Reserve Bank of Australia’s (RBA) policy meeting tomorrow.
The ABS releases September quarter business indicators, including inventories and company profits.
Overseas Market Commentary
Major European and US equities markets headed lower early before dropping on US political news and then recovering some, in part due to optimism regarding proposed US tax legislation.
Among US data releases, ISM’s manufacturing index fell 0.5 to 58.2.
October construction spending rose 1.4% for the month, against 0.3% in September.
Earlier, the euro zone’s final November manufacturing PMI was revealed s 60.1, representing a 1.6-point rise for the month.
In the UK, the November manufacturing PMI was reported at an also robust 51-month peak of 58.2.
This week, US tax legislation commentary will remain a market influencer, after Republican Senators were successful in (narrowly) pushing through one version of proposed legislation early Saturday US time.
Meanwhile, Russia’s alleged influence, and on whom, during the US presidential election (the cause of the overnight Friday markets drop), will likely remain among market considerations, although with varying influence, for months.
Tonight in the US, a New York region business activity index is due, together with an update on October national factory orders.
Elsewhere, European Central Bank president Mario Draghi is due to speak publicly.
The Australian market commences a new week’s trade on positive international commodities trade leads ahead of a week full of influential data releases.
The US president has appeared increasingly roiled overnight however, by the investigation into alleged Russian influence on the election campaign, events from which produced volatility across major equities markets overnight Friday.
In overnight Friday commodities trade, oil, iron ore, LME copper and other key base metals rallied.
The $A was ultimately propelled higher. Through early Friday evening, it had briefly slipped below ~US75.60c before appreciating beyond US75.90c.
Locally pre-trade, CoreLogic publishes weekly capital city residential property prices.
The ANZ also publishes November job advertisements and TD Securities and the Melbourne Institute an inflation report today, ahead of the Reserve Bank of Australia’s (RBA) policy meeting tomorrow.
The ABS releases September quarter business indicators, including inventories and company profits.
Overseas Market Commentary
Major European and US equities markets headed lower early before dropping on US political news and then recovering some, in part due to optimism regarding proposed US tax legislation.
Among US data releases, ISM’s manufacturing index fell 0.5 to 58.2.
October construction spending rose 1.4% for the month, against 0.3% in September.
Earlier, the euro zone’s final November manufacturing PMI was revealed s 60.1, representing a 1.6-point rise for the month.
In the UK, the November manufacturing PMI was reported at an also robust 51-month peak of 58.2.
This week, US tax legislation commentary will remain a market influencer, after Republican Senators were successful in (narrowly) pushing through one version of proposed legislation early Saturday US time.
Meanwhile, Russia’s alleged influence, and on whom, during the US presidential election (the cause of the overnight Friday markets drop), will likely remain among market considerations, although with varying influence, for months.
Tonight in the US, a New York region business activity index is due, together with an update on October national factory orders.
Elsewhere, European Central Bank president Mario Draghi is due to speak publicly.