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The Australian market is likely to mostly react today to domestic data and overnight commodities trade.
Oil prices fell. Copper also turned and fell. US gold futures continued to settle lower. Iron ore modestly extended Monday’s gain
The $A again gained after slipping below ~US74.35c early yesterday evening.
Locally today, September quarter GDP is due 11.30am AEDST.
Pre-trade, AiG and HIA release their November construction sector activity index. Post-trade, the Reserve Bank of Australia (RBA) publishes official assets.
Regionally, China is expected to report November foreign reserves (as late as 3pm AEDST), and Japan business conditions.
Chops and swings featured across most major European and US equities markets overnight, but US indices notably moved definitively higher in late trade.
In data releases, September quarter GDP growth for the euro zone was revised 0.1% higher to 1.7%.
Germany’s October factory orders jumped 4.9%.
In the UK, an industry report estimated November like-for-like retail sales had grown 0.6% year-on-year, after a 1.7% rise in October.
Across in the US, December quarter GDP growth was debated after the October trade deficit came in at $US42.6B, representing a 17.8% monthly increase, the largest since March 2015.
October factory orders rose the most in a month in 1.5 years however, improving 2.7% after a 0.6% gain in September.
Tonight in the US, a job opportunities report, consumer credit and weekly mortgage applications are due.
Dell and Costco are among companies scheduled to report earnings.