Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 03 Jan 2017
Local Markets Commentary
The Australian market commences day two of 2018 trade on positive US equities and mixed international commodities leads, ahead of influential reports in the US tonight.
In commodities trade, US gold futures continued to gain. Oil turned lower. Iron ore (China port, 62% Fe) continued to rally.
LME copper and aluminium pulled back further. Nickel swung lower.
The $A slipped to ~US78.35c after being propelled to ~US78.45c early yesterday evening.
Japan’s markets remain closed today due to a public holiday.
Overseas Market Commentary
Major European and US equities markets diverged overnight, the NASDAQ closing at a new record peak and the FTSE 100 adversely impacted by British pound strength against the $US.
Select retail stocks were also in favour in the US, following a positive research assessment of the new US tax regime.
In US data releases, a final Markit manufacturing PMI was reported at 55.1, against 53.9, representing the best monthly rise in ~two years.
Earlier in the euro zone, the December manufacturing PMI was confirmed at a record 60.6 and Germany’s at 63.3.
A European Central Bank (ECB) monetary policy committee member was reported to have conditionally ventured bond purchases could be wound down completely by year’s end, the second such official to suggest this, although the comments were reportedly offered in a pre-Christmas interview.
These were the second such reported comments from an ECB official over three days.
The UK’s December manufacturing PMI came n at 56.3, following 58.2 for November.
Influential reports and data are expected to be released in the US tonight in the US, including the minutes of the Federal Reserve’s December policy meeting, ISM’s December manufacturing PMI and November construction spending figures.
In overnight corporate news, Founders Fund was reported to have purchased significant quantities of bitcoin, supporting the cryptocurrency market.
BP revealed it anticipated at $US1.5B December quarter US tax charge due to the new US tax laws, but benefits thereafter.
The Australian market commences day two of 2018 trade on positive US equities and mixed international commodities leads, ahead of influential reports in the US tonight.
In commodities trade, US gold futures continued to gain. Oil turned lower. Iron ore (China port, 62% Fe) continued to rally.
LME copper and aluminium pulled back further. Nickel swung lower.
The $A slipped to ~US78.35c after being propelled to ~US78.45c early yesterday evening.
Japan’s markets remain closed today due to a public holiday.
Overseas Market Commentary
Major European and US equities markets diverged overnight, the NASDAQ closing at a new record peak and the FTSE 100 adversely impacted by British pound strength against the $US.
Select retail stocks were also in favour in the US, following a positive research assessment of the new US tax regime.
In US data releases, a final Markit manufacturing PMI was reported at 55.1, against 53.9, representing the best monthly rise in ~two years.
Earlier in the euro zone, the December manufacturing PMI was confirmed at a record 60.6 and Germany’s at 63.3.
A European Central Bank (ECB) monetary policy committee member was reported to have conditionally ventured bond purchases could be wound down completely by year’s end, the second such official to suggest this, although the comments were reportedly offered in a pre-Christmas interview.
These were the second such reported comments from an ECB official over three days.
The UK’s December manufacturing PMI came n at 56.3, following 58.2 for November.
Influential reports and data are expected to be released in the US tonight in the US, including the minutes of the Federal Reserve’s December policy meeting, ISM’s December manufacturing PMI and November construction spending figures.
In overnight corporate news, Founders Fund was reported to have purchased significant quantities of bitcoin, supporting the cryptocurrency market.
BP revealed it anticipated at $US1.5B December quarter US tax charge due to the new US tax laws, but benefits thereafter.