Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 20 Sep 2017
Local Markets Commentary
The Australian market commences mid-week trade amid equivocal and largely wait-and-see international sentiment.
Geopolitical and natural disaster scenarios will be monitored, given the US president’s overnight UN speech, which included a conditional threat to destroy North Korea.
Since then, a deadly earthquake has hit central Mexico, damaging Mexico City and surrounds, as Hurricane Maria continues to threaten further destruction as it heads towards Puerto Rico and the Virgin Islands.
In overnight commodities trade oil fell. US gold futures settled barely changed. Iron ore dropped. LME copper continued modestly higher.
The $A traded in a narrow range after rising to ~US80.0c early yesterday evening.
Locally today, Reserve Bank of Australia (RBA) assistant governor (economic) Luci Ellis is speaking publicly at an economists event, 1.05pm AEST.
In addition, several high-profile stocks trade ex-dividend.
Among economic data releases, Westpac and the Melbourne Institute publish their monthly leading indicators report 10.30am. A government department skilled vacancies report is expected 11am.
Regionally, Japan is due to publish August trade figures 9.50am AEST, ahead of an economics-focused speech by PM Shinzo Abe in the US tonight.
The Bank of Japan commences a monetary policy meeting from which outcomes will be made public tomorrow.
Overseas Market Commentary
Choppy, swinging trade featured on most major European and US equities markets overnight.
Among several events, US president Donald Trump told United Nations members he would always prioritise US interests.
In US data releases, August housing starts fell 0.8% for the month, but building permits rose 5.7%. Each indicator fell in July, by a respective 4.8% and 3.5%.
Export and import prices each climbed 0.6%, against respective expectations of 0.2% and 0.4% gains. For July, export prices had risen 0.4% and import prices 0.1%.
Across the Atlantic, ZEW’s economic sentiment index for Germany was reported seven points higher for the month, at 17.
Meanwhile, Germany heads towards a national election scheduled for Sunday.
A coalition outcome under current chancellor Angela Merkel is anticipated but the likely composition, and potential ramifications, remains under debate.
Tonight in the US, the Federal Reserve concludes a two-day policy meeting after which chair Janet Yellen will host a media conference.
Earlier, Japan’s PM Shinzo Abe is scheduled to speak on his nation’s economy at the New York Stock Exchange.
An influential announcement is also anticipated from UK PM Theresa May, regarding European Union negotiations surrounding the budget hole the UK’s departure would create.
Economic indicators due tonight include US August existing home sales and weekly mortgage applications.
In overnight corporate news, Ford Motor announced the temporary partial shut-downs across five manufacturing plants, three of these located in the US. Under-par earnings guidance from electronics retailer Best Buy sent that stock 8% lower, appearing at the same time to damage other US retail sentiment.
The telecommunications sector fared better, amid an ~6% gain each for Sprint and T-Mobile, which confirmed merger discussions.
The Australian market commences mid-week trade amid equivocal and largely wait-and-see international sentiment.
Geopolitical and natural disaster scenarios will be monitored, given the US president’s overnight UN speech, which included a conditional threat to destroy North Korea.
Since then, a deadly earthquake has hit central Mexico, damaging Mexico City and surrounds, as Hurricane Maria continues to threaten further destruction as it heads towards Puerto Rico and the Virgin Islands.
In overnight commodities trade oil fell. US gold futures settled barely changed. Iron ore dropped. LME copper continued modestly higher.
The $A traded in a narrow range after rising to ~US80.0c early yesterday evening.
Locally today, Reserve Bank of Australia (RBA) assistant governor (economic) Luci Ellis is speaking publicly at an economists event, 1.05pm AEST.
In addition, several high-profile stocks trade ex-dividend.
Among economic data releases, Westpac and the Melbourne Institute publish their monthly leading indicators report 10.30am. A government department skilled vacancies report is expected 11am.
Regionally, Japan is due to publish August trade figures 9.50am AEST, ahead of an economics-focused speech by PM Shinzo Abe in the US tonight.
The Bank of Japan commences a monetary policy meeting from which outcomes will be made public tomorrow.
Overseas Market Commentary
Choppy, swinging trade featured on most major European and US equities markets overnight.
Among several events, US president Donald Trump told United Nations members he would always prioritise US interests.
In US data releases, August housing starts fell 0.8% for the month, but building permits rose 5.7%. Each indicator fell in July, by a respective 4.8% and 3.5%.
Export and import prices each climbed 0.6%, against respective expectations of 0.2% and 0.4% gains. For July, export prices had risen 0.4% and import prices 0.1%.
Across the Atlantic, ZEW’s economic sentiment index for Germany was reported seven points higher for the month, at 17.
Meanwhile, Germany heads towards a national election scheduled for Sunday.
A coalition outcome under current chancellor Angela Merkel is anticipated but the likely composition, and potential ramifications, remains under debate.
Tonight in the US, the Federal Reserve concludes a two-day policy meeting after which chair Janet Yellen will host a media conference.
Earlier, Japan’s PM Shinzo Abe is scheduled to speak on his nation’s economy at the New York Stock Exchange.
An influential announcement is also anticipated from UK PM Theresa May, regarding European Union negotiations surrounding the budget hole the UK’s departure would create.
Economic indicators due tonight include US August existing home sales and weekly mortgage applications.
In overnight corporate news, Ford Motor announced the temporary partial shut-downs across five manufacturing plants, three of these located in the US. Under-par earnings guidance from electronics retailer Best Buy sent that stock 8% lower, appearing at the same time to damage other US retail sentiment.
The telecommunications sector fared better, amid an ~6% gain each for Sprint and T-Mobile, which confirmed merger discussions.