Market Updates 17/12/2018

ASX is set to follow US & Europe with SPI currently down 32 points at 5580. In the closing markets, Dow Jones closed down 2%, S & P down 1.9% & Nasdaq down 2.3%. In Europe, FTSE closed down 0.5%, CAC down 0.9% & DAX down 0.5%.

Economic data from China and ongoing Brexit has caused market frustration. Shares on Wall Street plummeted to an 8 month low with Dow confirming a correction and as signs emerged of a bear market in key sectors.

AUDUSD also felt the market sentiment and was sold off 0.7% trading at $0.7176 cents. Gold also fell closing down 0.3% at $US 1238.45. Brent Oil closed down 1.9% at US 60.28 a barrel while Iron Ore was in demand closing up 4.6% at US$70.74 a tonne.

The market is expecting the US Federal Reserve to lift rate by 0.25% from 2.25% to 2.50% on Thursday. In Australia, employment numbers are due out on Thursday with market expecting 20,000 jobs created in the month of November and unemployment rate unchanged at 5%.

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

DATA RELEASES THIS WEEK:

Monday/Tuesday:

No Major Data

Wednesday:

GBP – CPI y/y

Thursday:

CAD – CPI m/m

USD – FOMC Economic Projections, FOMC Statement, Federal Fund Rate & FOMC Press Release

NZD – GDP q/q

AUD – Employment Change & Unemployment Rate

JPY – BOJ Policy Rate & Monetary Policy Statement

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

Friday:

GBP – Current Account

CAD – Core Retail Sales m/m, GDP m/m

USD – Core Durable Goods Orders m/m, Final GDP q/q

CAD – BOC Business Outlook Survey

 

 

Marketing Team
02 8197 0065

 

Market Updates 10/12/2018

ASX is set for another negative opening with SPI currently down 30 points trading at 5637. This is on the back of another sell off on Wall Street on Friday with Dow Jones closing down 2.2%, S & P down 2.3% & Nasdaq down 3.1%. In Europe there was a mixed closes with FTSE closed up 1.1%, CAC closed up 0.7% while the DAX closed down 0.2%.

There are numbers of factor that trigger the sell off in the US, with US non-farm payroll missed market expectation. 155,000 jobs was created in November fewer than 200,000 expected. In Australia, the recent revisions to GDP data and soft growth in Q3 have seen economic growth softening to 2.8% y/y – roughly around RBA estimates of trend. These data challenge the RBA’s outlook for above-trend growth into 2019 and increase downside risk to the Bank’s household consumption outlook.

AUDUSD was also pressured  to sell on the weakness in the global markets closing down 0.4$ to $72.02 cents. Gold closed up 0.9% to US $1248.35 an ounce. Brent Crude Oil closed up 2.7% to US $61,67 a barrel. Iron Ore closed down 0.1% to US $66.51 a tonne.

The market is be looking for further direction on Thursday with US CPI numbers & Retail Sales m/m.

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

DATA RELELASES THIS WEEK:

Monday:

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

Tuesday:

GBP – Average Earnings Index 3m/y

Wednesday:

USD – PPI m/m

GBP – Parliament Brexit Vote

AUD – Westpac Consumer Sentiment

Thursday:

USD – CPI m/m & Core CPI m/m

CHF – SNB Monetary Policy Assessment & SNB Press Conference

EUR – Main Refinancing Rate

Friday:

EUR – ECB Press Confidence

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

 

Marketing Team
02 8197 0065

Market Updates 3/12/2018

ASX is set up opening stronger on Monday with SPI currently up by 25 points trading at 5699. This is on the back of a stronger closes in the US and the on the news that Donald Trump and Xi Jinping has agreed to a 90 day trade war truce. In the US, Dow Jones closed higher at 0.8%, S & P closed up 0.8% & Nasdaq closing 0.8%. In Europe, the markets ended up losing with FTSE closed down 0.8%, CAC down 0.1% & DAX down 0.4%.

AUDUSD open Monday strongly on the back of the truce currently surged to US $73.78 cents with Gold closed lower down 0.1% at US $1222.50. Oil continue to slip with Brent oil closing down 0.8% at US 59.46 a barrel. Iron Ore also closed down 0.8% to US $75.95 a tonne.

Today the focus is likely to be on the reaction to the weekend meeting between US & China. In Australia, RBA is expecting to keep cash rate on holder on Tuesday keeping it at 1.50%. Later this week OPEC will meet to discuss a potential production cut in the wake of the recent plunge in prices. In US, Manufacturing PMI numbers is due out on Tuesday and non-manufacturing PMI due out on Thursday.  The Market will be looking for another strong non-farm payroll numbers due out this Friday with market expecting 200,000 created in the month of November .

US equity markets will be closed on Wednesday (Thursday AEDT) for the funeral of former President George H Bush.

Please contact on of our FX specialists today for further information and trading opportunities.

DATA RELEASES THIS WEEK:

Tuesday:

USD – ISM ManufacturingPMI

AUD – RBA Rate Statement

GBP – BOE Gov Carney Speaks

Wednesday:

AUD – GDP q/q

EUR – ECB President Drahgi Speaks

Thursday:

USD – Fed Chair Powell Testifies, ISM Non-Manufacturing PMI

CAD – BOC Rate Statement & Overnight Rate

Friday:

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

CAD – Employment Change & Unemploymnt Rate

 

Marketing Team
02 8197 0065

Market Updates 26/11/2018

ASX look set to open in negative trade with SPI currently down 37 points at 5666. This is on the back of negative closes in US and mixed results in Europe with Dow Jones closing down 0.7%, S & P down 0.7% & Nasdaq down 0.5%. In Europe, FTSE closed down 0.1%, CAC closed up 0.2% & DAX also closed up 0.5%.

Oil and  Iron Ore tumbled on Friday with Brent oil closing down 6.1% at US $58.80 a barrel, US crude closed down 7.7% to US $50.80 a barrel & Iron Ore down 2.1% at US $70.13 a tonne.

AUDUSD also retreated 0.3 cents currently trading at US $72.34 cents on the back of a stronger USD as risk apprentice gained while the safe haven currencies such as the YEN and Swiss Franc also advanced.

For local investors, the focus will be on the third quarter construction work done data to be released on Wednesday and capital expenditure statistics on Thursday. In the Global markets, investors will be looking for some indication when ECB President Draghi speech on Tuesday, while in the US, Consumer Confidence numbers are due out on Wednesday, GDP numbers due out on Thursday and Fed Chair Powell’s announcement.

For further trading opportunities please contact one of our FX trading specialists today.

 

DATA RELEASES THIS WEEK:

Tuesday:

GBP – BOC Gov Careny Speaks

EUR – ECB President Draghi Speaks

Wednesday:

USD – CB Consumer Confidence

NZD – RBNZ Financial Stability Report, RBNZ Gov Orr Speaks

AUD – Construction Work Done q/q

GBP – Bank Stress Test Results

Thursday:

USD – Premlim GDP q/q, Fed Chair Powell Speaks

NZD – ANZ Business Confidence

AUD – Priviate Capital Expenditure q/q

EUR – ECB President Draghi Speaks

Friday:

USD – FOMC Meeting Minutes

 

Marketing Team
02 8197 0065

Market Updates 12/11/2018

ASX is posing to open lower on Monday’s trading session with SPI currently down 37 points at 5874. This is on the back of negative closing on both US and European Markets on Friday.

Dow Jones closed down 0.8%, S & P down 0.9% & Nasdaq down 1.7%. In Europe, FTSE down 0.5%, CAC down 0.5% while DAX closed down flat. The selloff was broad with 8 of 11 major S & P sectors ended lower on the day. The Dow was dragged down by Goldman Sachs, Caterpillar and Cisco shares. Goldman drop 3.9% triggered by reports that the firm’s links to Malaysia’s investment fund. According to Malaysia’s PM in waiting Anwear Ibrahim said the 1MDB investment funds was “inexcusable” as the government will seek the repayment of millions of dollars of fees the investment collected. Tech shares were knocked lower amid renewed concerns about the earnings outlook for the sector as well as White House trade adviser comments on a potential near-term resolution of the US/China trade war. In addition, the NYSE FANG shed 1.8% on Friday with , Netflix slid 4.6%, Amazon slid 2.4%, Facebook dropped 2% and Apple closed down 1.9%.

Gold also closed down 1.2% at US1209.65 while Iron Ore surged closing 1.2% higher at US77.20 a tonne, which help stable the AUDUSD trading at US 0.7218 cents.  There are couple of major news releases that both local and global investors will be looking – In Australia, we have the wage price index number due out Wednesday and on Thursday, employment numbers are out with the market expecting 20,000 jobs created in October and the unemployment rate to remain at 5.1%. In the global market, On Wednesday, CPI numbers will be released on Wednesday with the market expecting a small increase to 0.3%. On Friday, Retail sales numbers are due with marketing expecting an increase from 0.1% to 0.5%.

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

DATA RELEASES THIS WEEK:

Tuesday:

GBP – Average Earnings Index 3m/y

Wednesday:

AUD – Wage Price Index q/q

GBP – CPI y/y

Thursday:

USD – CPI m/m, Core CPI m/m & Fed Chair Powell Speaks

AUD – Employment Change & Unemployment Rate

GBP – Retail Sales m/m

Friday:

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

EUR – ECB President Draghi Speaks

 

Marketing Team
02 8197 0065

Market Updates 5/11/2018

ASX is looking at a negative opening trading session Monday with SPI currently down 5 points at 5811. This is on the back of negative closing in US markets and mixed closing in European markets.

In US, Dow Jones closed down 0,4%, S & P down 0.6% & Nasdaq closed down 1%. In Europe, FTSE down 0.3%, CAC closed up 0.3% & DAX closed up 0.4%.

There are nervous sentiment in the market with conflicting signals about the US & China trade war puts investors on the defensive edge. However there are positive signs in the US equities with 74% of S & P companies having reported, putting the index on pace for 24.9% blended earnings growth rate for the 3rd quarter. US market continuing to grow with Non-Farm numbers beating market expectation on Friday creating 250,000 jobs in October with unemployment rate remaining at 3.7%.

This week the market will be focusing on Australia’s cash rate on Melbourne Cup Day tomorrow and tipping for RBA to hold rates at 1.50% with US releasing its non-manufacturing PMI numbers and PPI numbers due out on Friday.  World will be watching US midterm election on Wednesday.

Please contact one of our Trading Specialists for further information & trading opportunities.

DATA RELEASES THIS WEEK:

Monday:

GBP – Services PMI

Tuesday:

CAD – BOC Gov Poloz Speaks

USD – ISM Non-Manufacturing PMI

AUD – RBA Rate Statement

Wednesday:

USD – Congressional Elections

NZD – Employment Change q/q, Unemployment Rate & Inflation Expectations q/q

Thursday:

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

Friday:

USD – FOMC Statement, Federal Funds Rate & PPI m/m

AUD – RBA Monetary Policy Statement

GBP – GDP m/m, Manufacturing Production m/m & Prelim Business Investment      q/q

 

Marketing Team
02 8197 0065

Market Updates 29/10/2018

ASX is set for another negative trading opening on Monday with SPI currently down 17 points at 5644. This is on a back of another sell off in the US and European close on Friday, with Dow Jones closed down 1.2%, S & P down 1.7% & Nasdaq closed down 2.1%. In Europe, FTSTE down 0.9%, CAC down 1.3% & DAX closed down 0.9%.  The volatility was lead by disappointing results from both Amazon and Alphabet.
AUDUSD is currently sitting at US $0.7090 cents, Gold closed up 0.1% at US $1233.53 with Iron Ore up 0.6% at US $76.48 a tonne.
Local investors will be focusing on several corporate earnings with ANZ’s full year results due out on Wednesday, NAB’s full year results on Thursday, Macquarie Group first half result on Friday. Another key data is Australia’s CPI numbers due out on Wednesday and Retails Sales numbers out on Friday. Markets is tipping our CPI to increase from 0.4% last quarter to 0.5% with Retails Sales to remain at 0.3%. Global investors will be focusing on Non-farm numbers and unemployment rate due out in US, with the market tipping 191,000 jobs created in October with unemployment rate remain at 3.8%.
Please contact our one of our specialists for further information or trading opportunities.
DATA RELEASES THIS WEEK:
Wednesday:
USD – CB Consumer Confidence
CAD  BOC Gov Poloz Speaks
AUD – CPI q/q & Trimmed Mean CPI q/q
JPY – BOJ Policy Outlook & BOJ Press Conference
Thursday:
CHF – SNB Chairman Jordan Speaks
CAD – BOC Gov Poloz Speaks
GBP – Manufacturing PMI, BOE Inflation Report, MPC Official Bank Rate Votes, Monetary Policy & Official Rate
Friday:
USD – ISM Manufacturing PMI, Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate
NZD – ANZ Business Confidence
AUD – Retail Sales m/m
CAD – Employment Change
Marketing Team
02 8197 0065

Weekly Market Updates 22/10/2018

SPI is currently down 12 points at 5911 which points to a negative start to ASX open trading this morning. This is on the back of mixed closes in the US & European markets on Friday, with Dow Jones closed up 0.3%, S & P was flat and Nasdaq closed down 0.5%. In Europe, FTSE closed up 0.3%, CAC down 0.6% and DAX down 0.3%. Historically, October have the reputation for being a volatility trading month, with US stocks again failing to sustain early week gains as investors mostly shrugged off a strong start to third-quarter corporate earnings season in the US.

AUD traded higher to end 0.3% to US 0.7119 cent, Gold was up 0.1% to US $1226.69 an ounce.  While there’s little economic data locally or overseas this week, there a few key reports to watch. In Canada, BOC is expected to lift rates. In Europe, ECB is expecting to leave rates on hold and in the US, GDP growth for the 3rd quarter is expected a 3.7% reflecting a solid consumer spending. For further information and trading opportunities please contact of our specialist for more information.

Please contact one of our office for any trading information and opportunities today. 

DATA RELEASES THIS WEEK:

Wednesday:

GBP – BOE Gov Carney Speaks

Thursday:

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

EUR – Main Refinancing Rate, ECB Press Conference & Core Durable Goods Orders m/m

Friday:

USD – Advance GDP q/q & Advance GDP Price Index q/q

EUR – ECB President Draghi Speaks

 

Marketing Team

02 8197 0065

Weekly Market Updates 15/10/2018

ASX is pointing to a negative opening with SPI currently down 51 points despite a rally on Wall Street on Friday. In US, Dow Jones closed up 1.2%, S & P up 1.1% & Nasdaq closed up 2.3%. In Europe, the major markets closed lower with FTSE down 0.2%, CAC down 0.2% & DAX closed down 0.1%. The US markets was sparked by news that US & China trade talks will likely to resume next month at the G20 summit, along with several major banks kicking off third-quarter earnings season with generally upbeat results.
AUDUSD retreated on Friday closing down 0.1% to US $0.71.14. Gold also lost grounds closed down 0.6% to US $1217.05 an ounce while Iron Ore closed higher to US $71.67 a tonne. Market will be looking for strong retail sales number out tonight up 0.7%. In Australia, unemployment numbers is due out on Thursday with market expecting 15,200 job creations for the month of Sept with unemployment to remain steady at 5.3%.
Please contact one of our office for any trading information and opportunities today. 
DATA RELEASES THIS WEEK:
Monday:
USD – Core Retail Sales m/m & Retail Sales m/m
Tuesday:
CAD – BOC Business Outlook Survey
NZD – CPI q/q
GBP – Average Earnings Index 3m/y
Wednesday:
GBP – CPI y/y
Thursday:
AUD – Employment Change & Unemployment Rate
JPY – BOJ Gov Kuroda Speaks
GBP – Retail Sales m/m
EUR – EU Economic Summit
Friday:
CNY – GDP y/y
JPY – BOJ Gov Kuroda Speaks
CAD – CPI m/m & Core Retail Sales m/m

Marketing Team

02 8197 0065

Weekly Market Updates 2/10/2018

SPI is currently up 16 points at 6176 pointing to positive trading start on Tuesday on hopes that the global trade outlook is improving after the US secured a new trade deal with Canada and Mexico.

However the market is expecting some pressure in the banking & financial sectors after Commission Hayne’s Royal Commission reporting last week. ASIC will launch the first legal action based on the report within weeks over the fees-for-no-service scandal as the regulator looks to make an example of the financial services giant.  The report also hammered Australia’s biggest banks such as CBA for failing to maintain adequate systems, and NAB for the widespread practice of false witnessing.

Overseas, there was some mixed closing with Dow Jones closed up 0.8%, S & P up 0.5% & Nasdaq unchanged. In Europe, FSTE closed down 0.2%, CAC up by 0.2% and DAX closed up 0.8%.

AUDUSD is trading US $0.72255 cents after it traded above US $0.73 cents earlier in the morning. Gold traded lower at US $1190.09 with Iron Ore has little change trading at US $69.24 a tonne. Investors will be looking for RBA to announce the Cash rate today with market expecting no changes at 1.5% however it is the statement from RBA and his outlook is what the market in expecting to hear. On Friday, its US Non-Farm payroll numbers with the market expecting 185,000 jobs creation in Sept with unemployment rate to drop at 3.8%.

For further trading opportunities please contact one of our specialists today.

MAJOR DATA RELEASES:

Tuesday:

AUD – RBA Rate Statement & Cash Rate

Wednesday:

USD – Fed Chair Powell Speaks,

GBP – Services PMI

Thursday:

AUD – Trade Balance (AUG)

USD – Initial Jobless Claims (Sep), Durable Goods Orders (Aug)

 

Friday:

AUD – Retail Sales (Aug)

CAD –  Unemployment Rate (Sep)

USD – Trade balance (Aug), Non-farm Payrolls (Sep), Unemployment Rate (Sep)

 

Marketing Team

02 8197 0065