Market Updates 07/05/2018

ASX is set for a positive start on Monday’s trading session with SPI up by more than 30 points on the back of strong trading session in the US. Dow Jones up by 1.4%, S & P up by 1.3% & Nasdaq up by 1.7%.

Tech shares led the way with Apple surging to a record high, Facebook gained 1.5% and Amazon gained 0.6%.

AUDUSD is trading US $0.7531 cents on the back of a strong USD. Gold has also traded strongly up 0.2% at US $1,315 per ounce. Iron Ore is down 0.9% at US $66.28 a tonne.

Local investors will be focusing on the retail sales and budget figures due out tomorrow.

DATA RELEASES THIS WEEK:

Tuesday:

AUD – Retail Sales & Annual Budget Release

NZD – Inflation Expectation q/q

USD – Fed Chair Powell Speaks

Wednesday:

USD – PPI m/m

Thursday:

USD – Crude Oil Inventories

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

GBP – Manufacturing Production m/m, MPC Official Bank Rate Votes, Monetary Policy Summary & Official Bank Rate

USD – CPI m/m & Core CPI m/m

Friday:

CAD – Employment Change & Unemployment Rate

EUR – ECB President Draghi Speaks

 

Andrew Law

General Manager

+61 411 625 998

Market Updates 30/4/2018

ASX is shaping to have a flat opening on Monday as investors are waiting for the corporate results and RBA meeting due this week. Also global investors will be looking for Australia’s Trade Balance result due out Thursday with market tipping for an increase to 0.95b, and the all-important Non-Farm Payroll and unemployment rate due out in the US on Friday, with the market tipping for an increase in job creations of 183,000 jobs and unemployment decrease to 4%.

Mixed results on the closing of US markets on Friday. Dow Jones was down 0.1%, S & P 500 was up 0.1% with Nasdaq closed flat.

AUDUSD bounced back towards US $0.76 cents before coming down currently trading US $0.7571 cents wanted as economic growth data confirmed a shower pace in the first quarter and the yield on the US 10 year Treasury slipped to 2.96%.

DATE RELEASES THIS WEEK:

Monday:

AUD – RBA Gov Lowe Speaks

Tuesday:

AUD – RBA Rate Statement

GBP – Manufacturing PMI

CAD – GDP m/m, BOC Gov Poloz Speaks

USD – ISM Manufacturing PMI

NZD – Employment Change q/q & Unemployment Rate

Wednesday:

GBP – Construction PMI

USD – ADP Non-Farm Employment Change, Crude Oil Inventories, FOMC Statement & Federal Funds Rate

Thursday:

AUD – Trade Balance

GBP – Services PMI

CAD – Trade Balance

Friday:

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

CHF – SNB Chairman Jordan Speaks

AUD – RBA Monetary Policy Statement

Andrew Law

General Manager

0411 625 998

Market Updates 23/04/2018

ASX is pointing for a fall with SPI down by 15 points and pressure on Banks’ stocks who are facing backlash from the Royal Commission with the resignation of AMP CEO Craig Meller on Friday. This also follows a negative trading session in the US. Dow Jones down 0.8%, S & P 500 down 0.9% & Nasdaq down 1.3%.

Investors are switching their investments for US Treasury Bonds up 3%. AUDUSD also had a big  sell off after it was trading above US $0.7887 cents last week and now down trading at US $0.7659 on the back of weaker job data in Australia. Local investors will be looking for some direction from our CPI data due out on Tuesday with a short trading week in Australia with ANZAC day.

DATA RELEASES THIS WEEK:

Tuesday:

CAD – BOC Gov Poloz Speaks

AUD – CPI q/q & Trimmed Mean CPI q/q

Wednesday:

USD – CB Consumer Confidence

Thursday:

USD – Crude Oil Inventories, Core Durable Good Orders m/m

CAD – BOC Gov Poloz Speaks

EUR – Minimum Bid Rate & ECB Press Conference

Friday:

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

CHF – SNB Chairman Jordan Speaks

GBP – Prelim GDP q/q

USD – Advance GDP q/q

GBP – BOE Gov Careny Speaks

Andrew Law

General Manager

0411 625 998

Market Updates 16/04/2018

ASX is set for an uncertain opening session on Monday following small loses in US on Friday with Dow Jones down 0.5%, S & P 500 down 0.3 & Nasdaq down 0.5%. US had a good trading session on Thursday but investors was cautioned by the recent strikes in Syria.

Oil prices was pushed higher on the back of the Syria tension and some experts predicting that it could hit US $80 per barrel. AUDUSD was trading higher on Friday just above US $0.78 cents before coming down currently trading at US $0.7770 cents. Local investors will be looking for further direction from the Unemployment rate due out on Thursday with market expecting to drop from previous month of 5.6% to 5.5% with additional 20,000 jobs created in March.

DATA RELEASES THIS WEEK:

Monday:

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

Tuesday:

AUD – Monetary Policy Meeting Minutes

CNY – GDP q/y

GBP – Average Earnings Index 3m/y

USD – Building Permits

Wednesday:

GBP – CPI y/y

Thursday:

CAD – BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate & BOC Press Conference

USD – Crude Oil Inventories

NZD – CPI q/q

AUD – Employment Change & Unemployment Rate

GBP – Retail Sales m/m

Friday:

CAD – CPI m/m & Core Retail Sales m/m

Andrew Law

General Manager

0411 625 998

Market Updates 9/4/2018

ASX is set for another early selloff this morning with SPI down 33 points following another bad night on Wall Street with the Dow Jones down 2.3%, S & P down 2.2% and Nasdaq down 2.3%.

Investors around the world is bracing for more potential volatility after a freeze in negotiation between Trump administration and China over an escalating trade conflict.  AUDUSD is currently trading at US $0.7676 cents slightly up from Friday’s low. Gold is also trading slightly higher at US $1,332 per ounce while Iron Ore is flat trading at US $63.57 a tonne.

DATA RELEASES THIS WEEK:

Tuesday:

CAD – BOC Business Outlook Survey

USD – PPI m/m

Wednesday:

AUD – RBA Gov Lowe Speaks

GBP- Manufacturing Production m/m

EUR – ECB President Draghi Speaks

USD – CPI m/m & Core CPI m/m

Thursday:

USD – Crude Oil Inventories & FOMC Meeting Minutes

JPY – BOJ Gov Kuroda Speaks

EUR – ECB Monetary Policy Meeting Accounts

Friday:

GBP – BOE Gov Carney Speaks

Andrew Law

General Manager

0411 625 998

Market Updates 26/03/2018

ASX has opening Monday trading session lower down by 0.69% at 5,780 on the back of a selloff in US on Friday with Dow Jones down 1.8%, S & P down 2.1% and Nasdaq down 2.4%. The selloff is sparked by the US & China imposing tariffs on both country’s imports exports.  On Friday, China has agreed to some relieve and ask that the US arrange a meeting before things are out of control. Due to lack of data releases this week, Investors can only watch what’s transpired this week between US & China.

AUDUSD has regained some loses from last week currently trading at US 0.771 cents. While Iron Core lost 3.9% at $US 64.58 a tonne. Gold has traded strongly on the back of weaker equities markets.

DATA RELEASES THIS WEEK:

Wednesday:

USD – CB Consumer Confidence & Final GDP q/q

NZD – ANZ Business Confidence

Thursday:

USD – Crude Oil Inventories

GBP – Current Account

CAD – GDP m/m

 

Friday:

Good Friday holiday

 

Andrew Law

General Manager

0411 625 998

Market Updates 19/03/2018

ASX has opened Monday’s trading session on a high currently up 0.5% with Banks and Resources’ shares edging higher. AUDUSD is currently trading at US 0.7716 cents from last week’s selloff.

The Market will be watching the G20 summits that begins today, with local investors will be focusing on the unemployment rate in Australia on Thursday.

DATA RELEASES THIS WEEK:

Monday:

G20 Meetings

Tuesday:

AUD – Monetary Policy Meeting Minutes

GBP – CPI y/y

Wednesday:

GBP – Average Earnings Index 3m/y

Thursday:

USD – Crude Oil Inventories, FOMC Economic Projections, FOMC Statement & Federal Fund Rate

AUD – Employment Change & Unemployment Rate

NZD – RBNZ Rate Statement

GBP – Rate Sales m/m, MPC Official Bank Rate, Monetary Policy Summary & Official Bank Rate

Friday:

CAD – CPI m/m & Core Retail Sales m/m

USD – Core Durable Goods Orders m/m

 

Andrew Law

General Manager

0411 625 998

Market Updates 12/03/2018

ASX has opened Monday’s trading session higher currently up 0.84% back over 6000 for the first time this month, boosted by the US jobs data on Friday. US markets closed out last week with strong gains after the jobs data indicated that wages are contained and that the US Fed is likely to keep raising interest rates.

 

AUDUSD is currently trading higher at the US $0.7864 on the back of the exemption by US President to exclude Australia in his latest Tariff on imported steels, which saw Iron Ore prices dropped more than 4% to the US $70.09 a tonne.

 

Global investors will be watching CPI numbers due out in the US on Tuesday with the forecast at 0.2% rise in February, Retail sales & PPI numbers are also due out on Wednesday.

 

DATA RELEASES THIS WEEK:

 

Tuesday:

AUD – NAB Business Confidence & Home Loans m/m

GBP – Annual Budget Release

USD – CPI m/m & Core CPI m/m

 

Wednesday:

CNY – Industrial Production y/y

EUR – ECB President Draghi Speaks

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

 

Thursday:

USD – Crude Oil Inventories m/m

NZD – GDP q/q

CHF – Libor Rate & SNB Monetary Policy Assessment

 

Friday:

USD – Building Permits

 

Andrew Law

General Manager

0411 625 998

Market Updates 5/3/2018

SPI was pointed to a positive start of Monday trading session but when the market opened ASX 200 is now trading lower triggered by Retail Food Group slumps, following a mixed trading session in the US on Friday. Dow Jones lost .03% while S & P up 0.5% and Nasdaq up by 1.1%.

The US Federal Reserve has stepped up the pace of monetary tightening and President Donald Trump’s comments that the US would impose further tariffs on steel and aluminum imports.

AUDUSD is currently trading around US $0.7757 cents trapped around the 0.7740 cents to 0.7780 marks. Local investors will be paying close attention to a speech by governor Philip Lowe at the AFR Business Summit on Wednesday for his view on investment trends and Trade Balance numbers due out on Thursday. Global investors will be focusing on the Non-farm payroll numbers due out in the US on Friday.

 

DATA RELEASES THIS WEEK:

Monday:

AUD – MI Inflation Gauge m/m

GBP – Services PMI

 

Tuesday:

USD – ISM Non-Manufacturing PMI

AUD – Current Account, Retail Sales m/m, Cash Rate Statement & RBA Rate Statement

 

Wednesday:

AUD – RBA Gov Lowe Speaks, GDP q/q

GBP – MPC Member Haldane Speaks

USD – ADP Non-Farm Employment Change

CAD – Trade Balance

 

Thursday:

CAD – BOC Rate Statement & Overnight Rate

USD – Crude Oil Inventories

AUD – Trade Balance

EUR – Minimum Bid Rate & ECB Press Conference

 

Friday:

CAD – BOC Gov Poloz Speaks

JPY – BOJ Policy Rate, Monetary Policy Statement & BOJ Press Conference

GBP – Manufacturing Production m/m

CAD – Employment Change & Unemployment Rate

USD – Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate

 

Andrew Law

General Manager

+61 411 625 998

Market Updates 26/02/2018

Local shares have opened up higher on the back of strong trading session in the US on Friday with DOW up 1.4%, S & P 500 up 1.6% & Nasdaq up by 1.8%.

 

Iron ore has also increased trading at US$78.82 a tonne but AUDUSD didn’t follow suits backup by a stronger USD currently trading around the US $0.7840 cents.  Investors will be looking for further directions in the US when Federal Reserve head Jerome Powell speaks this week, especially in relations to the extent of further interest rates rise.

 

DATA RELEASES FOR THIS WEEK:

 

Tuesday:

EUR – ECB President Draghi Speak

USD – Core Durable Goods Orders m/m, Fed Chair Powell Testifies

 

Wednesday:

USD – CB Consumer Confidence

NZD – ANZ Business Confidence

 

Thursday:

USD – Crude Oil Inventories

AUD – Private Capital Expenditure q/q

GBP – Manufacturing PMI

 

Friday:

USD – Fed Chair Powell Testifies, ISM Manufacturing PMI

GBP – Prime Minster May Speaks, Construction PMI & BOE Gov Carney Speaks

CAD – GDP m/m

 

Andrew Law

General Manager

0411 625 998