Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 11 Apr 2018
Local Markets Commentary
The Australian market commences mid-week trade on positive overnight international equities and key commodities leads, ahead of influential data out of China today and the US tonight, and public speeches by the governor of the Reserve Bank of Australia (RBA) and chair of the Australian Securities and Investments Commission (ASIC) today.
China is due to report March CPI and PPI ~11.30am AEST.
ASIC chair James Shipton is scheduled to speak at a regulatory forum in Sydney 9.35am AEST.
RBA governor Philip Lowe is scheduled to speak publicly at 3pm AEST, at an event in Perth.
In overnight commodities trade, US gold futures continued their latest positive run, albeit quite modestly. Oil was propelled higher.
Iron ore (China port, 62% Fe) extended Monday’s gain.
LME copper, nickel and aluminium continued to rally.
The $A was pushed higher after trading at US77.25c early yesterday evening.
Local economic publications and data releases due today include the Westpac and the Melbourne Institute publish monthly consumer sentiment report, and December quarter construction activity from the Australian Bureau of Statistics (ABS).
Overseas Market Commentary
Major European and US equities markets bounced decisively on open overnight and largely maintained gains.
Yesterday, China’s president Xi Jinping declared plans were underway for the previously promised opening up of China business to foreign companies, ventured that car import tariffs would be lowered and IP protections improved, and decried ‘cold war’ behaviour.
This helped push vehicle manufacturers and the tech sector higher in US equities trade.
In addition, the US Federal Reserve opened up for stakeholder comment, proposals including enabling select larger financial institutions to reduce required capital reserves.
In US data releases, March producer prices were reported to have risen 0.3% higher for the month, to be 3.0% higher year-on-year, against respective 0.2% and 2.8% calculations for February.
February wholesale inventories increased 1.0% for the month, following a 1.1% rise in January.
A small business optimism index fell 2.9 points to 104.7.
Tonight in the US, March CPI, Federal Reserve policy meeting minutes and monthly budget figures are due, together with weekly mortgage applications.
Elsewhere, European Central Bank (ECB) president Mario Draghi is expected to speak publicly.
Companies scheduled to report earnings include: online retailer ASOS, Bed Bath & Beyond and UK major supermarket chain Tesco.
In overnight corporate news, high-profile investor Carl Icahn was reported to be offloading car parts manufacturer Federal-Mogul for ~$US2.4B.
Facebook appreciated 4.5% as CEO Mark Zuckerberg explained reactions and response plans to personal data compromises while being quizzed by members of Congress.
The Australian market commences mid-week trade on positive overnight international equities and key commodities leads, ahead of influential data out of China today and the US tonight, and public speeches by the governor of the Reserve Bank of Australia (RBA) and chair of the Australian Securities and Investments Commission (ASIC) today.
China is due to report March CPI and PPI ~11.30am AEST.
ASIC chair James Shipton is scheduled to speak at a regulatory forum in Sydney 9.35am AEST.
RBA governor Philip Lowe is scheduled to speak publicly at 3pm AEST, at an event in Perth.
In overnight commodities trade, US gold futures continued their latest positive run, albeit quite modestly. Oil was propelled higher.
Iron ore (China port, 62% Fe) extended Monday’s gain.
LME copper, nickel and aluminium continued to rally.
The $A was pushed higher after trading at US77.25c early yesterday evening.
Local economic publications and data releases due today include the Westpac and the Melbourne Institute publish monthly consumer sentiment report, and December quarter construction activity from the Australian Bureau of Statistics (ABS).
Overseas Market Commentary
Major European and US equities markets bounced decisively on open overnight and largely maintained gains.
Yesterday, China’s president Xi Jinping declared plans were underway for the previously promised opening up of China business to foreign companies, ventured that car import tariffs would be lowered and IP protections improved, and decried ‘cold war’ behaviour.
This helped push vehicle manufacturers and the tech sector higher in US equities trade.
In addition, the US Federal Reserve opened up for stakeholder comment, proposals including enabling select larger financial institutions to reduce required capital reserves.
In US data releases, March producer prices were reported to have risen 0.3% higher for the month, to be 3.0% higher year-on-year, against respective 0.2% and 2.8% calculations for February.
February wholesale inventories increased 1.0% for the month, following a 1.1% rise in January.
A small business optimism index fell 2.9 points to 104.7.
Tonight in the US, March CPI, Federal Reserve policy meeting minutes and monthly budget figures are due, together with weekly mortgage applications.
Elsewhere, European Central Bank (ECB) president Mario Draghi is expected to speak publicly.
Companies scheduled to report earnings include: online retailer ASOS, Bed Bath & Beyond and UK major supermarket chain Tesco.
In overnight corporate news, high-profile investor Carl Icahn was reported to be offloading car parts manufacturer Federal-Mogul for ~$US2.4B.
Facebook appreciated 4.5% as CEO Mark Zuckerberg explained reactions and response plans to personal data compromises while being quizzed by members of Congress.