Market Updates 24/9/2018

ASX is looking for a negative trading opening on Monday with SPI currently down by 23 points at 6169 despite some good closing in both US & European markets on Friday.

In US, Dow Jones closed up 0.3%, S & P closed flat with Nasdaq down 0.5%. In Europe, FTSE closed up 1.7%, CAC up by 0.8% and DAX closed up 0.9%. The Australia dollar was flat over the weekend, holding near US $73 cents with Gold losing some grounds down 0.6% at US $1200.04 and Iron Ord down 0.1% at US 60.13  a tonne.

The highlight for this week was the US Federal Reserve’s two day policy meeting which will be concluded on Thursday. The Fed is expected to increase US interest rates for the 8th time in the current cycle and release updates on some economic projections. Investors will trade with some cautions this week with both US and China will respectively lift tariffs on a range of each other’s products this week.

Please contact one of our specialists for any further information and trading opportunities.

DATA RELEASES THIS WEEK:

Monday:

EUR – ECB President Draghi Speaks

Tuesday:

JPY – BOJ Gov Kuroda Speaks

Wednesday:

USD – CB Consumer Confidence

NZD – ANZ Business Confidence

Thursday:

USD – Crude Oil Inventories, FOMC Economic Projections, FOMC Statement, Core Durable Goods Orders m/m & Final GDP q.q

NZD – Official Cash Rate, RBNZ Monetary Policy Statement & RBNZ Rate Statement

EUR – ECB President Draghi Speaks

Friday:

USD – -Fed Chair Powell Speaks

CAD – -BOC Gov Poloz Speaks & GDP m/m

GBP – Current Account

Marketing Team

02 8197 0065

Market Updates 17/9/2018

ASX is expected to start with a positive trading session on Monday with SPI currently up by 6 points at 6180 but this could be short live with renewed US & China trade worries. US markets opened higher on Friday before dropping sharply on news that President Trump directed his advisers to proceed with plans to impose on another $200 billion of Chinese goods. As a result, Dow Jones closed flat, S & P also closed flat with Nasdaq closed down 0.1%. In Europe, FTSE closed up 0.3%, CAC up 0.5% & DAX closed up 0.6%.

In the commodities market, Gold closed lower at US $1194.85 & Iron Ore lost 0.8% to closed at US $67.68 a tonne. In the local currencies, AUDUSD lost 0.6% to US $0.7153 cents. With little data releases this week, investors can only focus on the tension between US & China trade war and the outlook on Europe when President Draghi speaks on Tuesday local time. For further information please  contact one of our specialists for any trading opportunities.

For further trading opportunities please contact of our Specialists for further details.

 

DATA RELEASES THIS WEEK:

Tuesday:

AUDUSD – Monetary Policy Meeting Minutes

EUR – ECB President Draghi Speaks

Wednesday:

JPY – Monetary Policy Statement

GBP – CPY y/y

Thursday:

USD – Crude Oil Inventories

NZD – GDP q/q

CHK – SNB Monetary Policy Assessment

GBP – Retail Sales m/m

Friday:

CAD – CPY m/m & Core Retail Sales m/m

Marketing Team

02 8197 0065

Market Updates 10/9/2018

ASX is expecting to open lower with SPI currently down 23 points trading at 6108. This is on the back of a mixed closing across US & European markets on Friday with Dow Jones closing down 0.3%, S & P down 0.2% & Nasdaq down 0.3%. In Europe FSTE closed down 0.6%, CAC was up .2% & CAC closed flat.

Non-farm numbers boosted the market with additional 201,000 jobs added during August but unemployment rate was up 0.1% to 3.9%.  Further fears renewed with threats by President Trump to add further tariff against Chinese goods. While there was no immediate imposition of tariffs on the US$200 billion of Chinese goods that the administration has targeted, but Trump told reporters he already was looking towards hitting a further US$267 billion of Chinese goods.

AUDUSD took another hit briefly dipped to US$ 0.7099 and managed to recover to US 0.7107 cents at NY close. Gold also lost 0.3% trading at US $1196.93, Iron Ore was up 0.1% trading at US $68.48 a tonne at the close.

For further trading opportunities please contact of our Specialists for further details.

DATA RELEASES THIS WEEK

Monday:

GBP – GDP m/m & Manufacturing Production m/m

Tuesday:

GBP – Average Earnings Index 3m/7

Wednesday:

USD – PPI m/m

Thursday:

USD – Crude Oil Inventories, CPI m/m & Core CPI m/m

AUDEmployment Change & Unemployment Rate

GBP – MPC Official Bank Rate Votes, Monetary Policy Summary & Official Bank Rate

EUR – ECB Press Conference

Friday:

USD – Core Retail Sales & Retail Sales m/m

GBP – BOE Gov Carney Speaks

 

Marketing Team

02 8197 0065

Market Updates 3/9/2018

AXS is posed open higher this morning with SPI currently up 26 points at 6330 on the back of  another strong closed in the US & European markets on Friday.

In US, Dow Jones closed up 0.5%, S & P up 0.6% & Nasdaq up by 0.9%. In Europe, FTSE closed up 0.2%, DAX up 0.2% & CAC closed up 0.2%.  AUDUSD has continue to be sold off on the back of further concerns over the trade war discussions between US & China. Further clouding the trade war was President Trump’s renewed threat to withdraw from the WTO.

AUDUSD can’t be supported by even a  strong commodities market with Gold traded higher up by 1.7% to US $1205 & Iron Ore by 1.3% at US $67.03 a tonne.

There are plenty of  economic data to drive the market today and this week ahead, even with US market closed tonight/tomorrow due to Labor Day holiday . Among the highlights are Retail Sales number out tomorrow,  the RBA’s Policy meeting tomorrow and the release of second quarter GDP numbers due out on Wednesday. On Friday, US Non-Farm and Unemployment numbers are due out with the market expecting additional 191k jobs added for the month of August with unemployment numbers remaining steady at 3.9%.

Please contact one of our specialist for further information and trading opportunities.

DATA RELEASES THIS WEEK:

Monday:

AUD – Retail Sales m/m

JPY – BOJ Gov Kuroda Speaks

GBP – Manufacturing PMI

Tuesday:

AUD – Cash Rate & RBA Rate Statement

GBP – Manufacturing PMI

Wednesday:

USD – ISM Manufacturing PMI

AUD – GDP q/q

GBP – Services PMI

CAD – Trade Balance

Thursday:

CAD – BOC Rate Statement & Overnight Rate

AUD – Trade Balance

USD – ADP Non-Farm Employment Change

Friday:

USD – ISM Non-Manufacturing PMI, Crude Oil Inventories, Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Change

CAD – Unemployment Rate

Marketing Team

02 8197 0065

Market Updates 27/08/2018

ASX is expected to open flat on Monday despite the political turmoil Australia had over Friday changing of PM. This is supported by a strong closes across all major markets in US & Europe.

In US, Wall Street closed at a fresh record with Dow Jones closed up 0.5%, S & P up 0.6% & Nasdaq up 0.9%. In Europe, FTSE closed up 0.2%, DAX up 0.2% & CAC closed up 0.2%. In Commodities, Gold traded higher up by 1.7% at US $1205.35 & Iron Ore up 1.3% to US $67.03 a tonne.  Australia dollar  also rebounded after PM Morrison was confirmed to replace outgoing PM Turnbull. AUDUSD supported by stronger commodities prices currently trading at US $0.73324 cents.

US 10 year Treasury yield fell 2.81% on the back of the speech made by Federal Reserve Gov Powell that interest rate rises would not be as urgent as previously expected. Despite the strength of US’s economy is not deemed as over heating and the current anchoring of long term inflation expectations meant that policy can be a bit more accommodative than if policymakers had to offset a rise in longer-term expectations.

Not much is happening in terms of major numbers coming out this week. Investors will continue to focus on the reshuffle of Australia’s Minster Cabinets and in overseas, talks in Washington between US & China has little success. Looming instead are new tariffs that Trump has threatened to impose on some $US200 billion in annual imports from China. The market will be facing an escalating trade war over the next few months.

~~~ Please contact one of our specialist for further information and trading opportunities. ~~~

DATA RELEASES THIS WEEK:

Wednesday:

USD – Prelim GDP q/q

Thursday:

USD – Crude Oil Inventories

NZD – ANZ Business Confidence

AUD – Private Capital Expenditure q/q

CAD – GDP m/m

Friday:

CNY – Manufacturing PMI & Non-Manufacturing PMI

 

Marketing Team

02 8197 0065

Market Updates 20/08/2018

ASX is expecting to for a positive opening with SPI currently up 28points at 6327. This is on the back of positive end to US trading on Friday with Dow Jones up 0.4%, S & P up 0.3% & Nasdaq up 0.1%. Mixed closed in Europe with FTSE ended flat, DAX down by 0.2% and CAC down 0.1%.

US equities rose late Friday afternoon even as the Turkish lira tumbled and some expectation of the US-China trade war easing with a planned meeting this week between US and a delegation led by Vice Minister of Commerce Wang Shouwen from China. The world’s two largest economies are set to impose tariffs on billions of dollars of each other’s goods on August 23, in addition to levies that took effect on July 6.

AUDUSD rebounded from Friday currently trading at US $0.7310 from just touching US $0.7200. Gold also traded higher at US $1185.05 with Iron Ore also up by 1.5% currently trading US $67.63 a tonne.

Very little data releases this week as investors will wait and digest the outcome of this week’s meeting between US & China.

 

Please contact one of our specialist for further information regarding any trading opportunities.

DATA RELEASES THIS WEEK:

Tuesday:

AUD – RBA Gov Lowe Speaks & Monetary Policy Meeting Minutes

Wednesday:

NZD – Retail Sales q/q

CAD – Core Retail Sales m/m

Thursday:

USD – Crude Oil Inventories & FOMC Meeting Minutes

Friday:

USD – Fed Chair Powell Speaks

Marketing Team

02 8197 0065

Market Updates 13/08/2018

ASX is expecting for a sell off this morning on the back deepening economic crisis in Turkey with risk aversion surges across global markets in both equities and currencies.

On the closed of Friday, Dow Jones was down 0.8%, S & P down 0.7% & Nasdaq down 0.7%. In Europe, FTSE was down 1%, CAC down 1.6% & DAX closed down 2%.

AUDUSD wiped out 18 months of gains, failing over 1.25% to a level not seen since early January 2017 to trade at US 72.73 cents.  As investors seek to buy back into the safe haven currencies in USD, however the YEN outperformed the USD as a safe haven.  EURUSD lost 1.2% in last week’s trading after it broke 1.14 barrier.

Please contact one of our specialist for further information regarding any trading opportunities.

DATA RELEASES THIS WEEK:

Tuesday:

AUD – NAB Business Confidence

GBP – Average Earnings Index 3m/y

Wednesday:

AUD – Wage Price Index q/q

GBP – CPI y/y

USD – Core Retail Sales m/m & Retail Sales m/m

Thursday:

USD – Crude Oil Inventories

AUD – Employment Change & Unemployment Rate

GBP – Retail Sales m/m

Friday:

AUD – RBA Gov Lowe Speaks

CAD – CPI m/m

 

Marketing Team

02 8197 0065

Market Updates 6/8/2018

ASX is expecting an early positive start with SPI currently up 21 points at 6204 on the back of positive ends to Friday’s trade in both US & Europe. Dow Jones was up 0.5%, S & P up by 0.5% & Nasdaq up 0.1%. In Europe, FTSE was up 1.1%, CAC up 0.3% & DAX up 0.6%.

AUDUSD traded higher up 0.6% currently trading US $0.74.04 cents, Gold also traded higher up by 0.6% at US $1,214.90 an ounce with Iron Ore up 0.9% trading at US $67.45 a tonne.

Although the non-farm payroll missed market expectations on Friday, Corporate earnings in the US was strong with key focus in Australia on RBA’s policy meeting with Gov Philip Lowe’s speech on Tuesday followed by RBA’s statement on Monetary Policy on Thursday. Global investors will be looking for the CPI numbers due out in the US on Friday.

Please contact one of our specialist today for further information.

DATA RELEASES THIS WEEK:

Tuesday:

AUD – RBA Rate Statement & RBA Gov Lowe Speaks

Wednesday:

USD – Crude Oil Inventories

NZD – RBNZ Monetary Policy Statement, RBNZ Rate Statement & RBNZ Press Confidence

Thursday:

USD – PPI m/m

AUD – RBA Monetary Policy Statement

Friday:

GBP – GDP m/m, Manufacturing Production m/m & Prelim Trade Balance

CAD – Unemployment Change & Unemployment Rate

USD – CPI m/m & Core CPI m/m

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Market Updates 30/07/2018

ASX looks set to a negative opening with SPI currently down 26 points at 6225 on the back of some mixed closed in US & Europe markets on Friday.

In US, Dow Jones closed down 0.3%, S & P down 0.7% & Nasdaq down 1.5%. In Europe, FSTE closed up 0.5%, CAC up 0.6% & DAX closed up 0.4%. The US markets was trading fairly strongly with Nasdaq breaking new highs before Facebook sell off, followed by Twitter fell 20.5% after the social media reported a decline in its monthly users. Intel Shares also fell 8.6% after the company missed estimated earnings.

However the US GDP came in at 4.1% although it misses the market expectation of 4.2% but the figure more than doubled from last quarter coming in at 2%.  In Europe, over 70 companies will have their earnings reported this week. This includes BNP Paribas, Intesa Sanpaolo, Lloyds, ING, Barclays to name a few.

It is going to be a busy week if you are looking for opportunities to trade the FX & CFDs’ markets, with US releases its first test with ADP non-farm numbers due out on WednesdayOn Thursday we have the Australia Trade Balance numbers due out. On Friday, in Australia the retail numbers with the market expecting a small drop from last month at 0.3%. Friday evening we have the US non-farm numbers and unemployment rate being released with market tipping 193k jobs added during the month of July with unemployment steady at 3.9%.

Call one of our FX experts today and find out how you can trade CFDs and take advance of this.

DATA RELEASES THIS WEEK:

Tuesday:

NZD – ANZ Business Confidence

JPY – BOJ Outlook Report, BOJ Policy Rate & Monetary Policy Statement

CAD – GDP m/m

Wednesday:

USD – CB Consumer Confidence & ADP Non-Farm Employment Change

NZD – Employment Change q/q & Unemployment Rate

Thursday:

USD – ISM Manufacturing PMO, Crude Oil Inventories, FOMC Statement  & Federal Funds Rate

AUD – Trade Balance

GBP – BOE Inflation Report & MPC Official Bank Rate Votes

Friday:

AUD – Retail Sales m/m

GBP – Services PMI

CAD – Trade Balance

USD – Average Hourly Earning m/m, Non-Farm Employment Change & Unemployment Rate & ISM Non-Manufacturing PMI

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Market Updates 23/07/2018

ASX is set for a lower opening with SPI currently down 18 points at 6207. This is on the back of a negative closes to US & European markets on Friday.

Dow Jones closed down 0.1%, S & P down 0.1% & Nasdaq down 0.1%. In Europe, FSTE closed down 0.1%, CAC down 0.4% & DAX down 1%.

The US dollar plunges and trading its lowest since March against major currencies on the back of some verbal comments made by President Donald Trump which escalated concern that a global trade war is escalating.

AUDUSD trading higher at $0.7432 cents with USDCNH (CNY) down trading at 6.7830. Gold was trading higher up 0.5% at US $1,229.53 per ounce while Iron Ore was down 0.2% at US $65.14 a tonne.

DATA RELEASES THIS WEEK:

Monday:

Nil

Tuesday:

USD – Existing Home Sales & Manufacturing PMI

AUD – CPI q/q

Wednesday:

USD – New Home Sales

EUR – ECB Deposit Rate & Interest Rate Decision

Thursday:

JPY – CPI

Friday:

AUD – Producer Price Index q2

USD – GDP q2 & Core Personal Consumption Expenditures q2

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998