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
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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
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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
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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

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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

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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

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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