//When accessing bootstrap.css from stateone cdn, it also tries to load fonts from stateone cdn too and fails because of CORS violation
Research

Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.

Market Opener – 05 Jul 2019

 
Local Markets Commentary
The Australian market opens Friday trade with no overnight US trade leads, but with post-Thursday ASX trade-approved domestic tax cuts which could again support sentiment. 

Locally today, the AiG releases its June construction sector activity index pre-trade.

In overnight commodities trade, Brent crude swung lower in lighter-than-usual trade

Iron ore (China port, 62% Fe) reportedly retreated.

LME copper turned lower, nickel settled slightly higher, and aluminium rallied.

The $A remained within a narrow range after trading at US70.20c early yesterday evening.

Regionally, China is expected to reveal June foreign reserves anytime from Sunday.

Overseas Market Commentary
Major European equities markets settled little changed following choppy overnight trade amid ongoing broad geopolitical tensions. 

US equities markets did not trade due to the Independence Day public holiday.

In the meantime, China had announced via its commerce ministry that there would be no trade deal with the US until the US removed import taxes it has added during US-China trade negotiations and dispute.

Iran, for its part, declared via its intelligence minister that no talks would be held with US administrative officials until the US lifted sanctions against Iran and then only if Iran’s Ayatollah approved new talks.

In addition, Iran’s Supreme National Security Council vowed to continue plans to lessen its commitment to an international nuclear agreement secured in 2015 while sanctions and threats remained.

Overnight, UK navy personnel were reported to have boarded a tanker, and Gibraltar to have detained the vessel, enroute to a Syrian refinery under European Union (EU) sanctions since 2014. The tanker was reportedly carrying crude from Iran.

Euro zone May retail sales were reported 0.3% lower for the month and 1.3% higher year-on-year, following a 0.1% fall during April.

A construction PMI for Germany fell 1.4 points to the 50.0 cut-off point between expansion and contraction.

Tonight in the US, June employment figures are eagerly anticipated.
 
5/07/2019 8:00:00 AM

Back to top