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

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

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

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

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

Market Updates 16/07/2018

ASX looks to open flat on this Monday’s trading session with SPI currently just down 7 points. The international markets closed higher on Friday with Dow Jones up 0.4%, S & P up 0.1% and Nasdaq closed flat, In Europe, FTSE closed 0.1%, CAC up by 0.4% and DAX up 0.4%. AUDUSD also traded higher at US $0.7421, Gold lost grounds down 0.5% at US $1,241.45 while Iron Ore was flat at US $64.04 a tonne.

This week is looking to be a busy week starting with today’s GDP from China and Retail Sales number due out in US. On Wednesday Fed Chair will be speaking to Congress for a two days discussion. There will be questioned about the economic hit that can be expected from the Trump Administration’s multiple trade battles. Bond traders will be keen to see if the Fed will comment on the US yield curve. The US 2 year to 10 year yield difference just narrowing to 25 basis points in the late afternoon trade in NY on Friday.

On Thursday, Australia jobs data being released with the market expecting 16,600 jobs added in June with unemployment rate to remain steady at 5.4%. Away from the market, all eyes will be focusing on the meeting between Donald Trump and Vladimir Putin. On Saturday, G20 Summit will commence where World Leaders will gather with discussion around the trade war.

DATA RELEASES THIS WEEK:

Monday:

CNY – GDP Q/Y

USD – Core Retail Sales & Retail Sales m/m

Tuesday:

NZD – CPI q/q

AUD – Monetary Policy Meeting Minutes

GBP – BOE Gov Carney Speaks & Average Earnings Index 3m/y

Wednesday:

USD – Fed Chair Powell Testifies, Building Permits

GBP – CPI y/y

Thursday:

USD – Fed Chair Powell Testifies,

AUDEmployment Change & Unemployment Rate

GBP – Retail Sales m/m

Friday:

CAD – CPI m/m, Core Retail Sales m/m

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Market Updates 9/7/2018

ASX is looking at a positive trading session on Monday with SPI currently up 26 points at 6250. This is on the back of strong end to Wall Street and Europe markets, with Dow Jones up 0.4%, S & P up 0.9% & Nasdaq up 1.3%. In Europe, FTSE up 0.2%, CAC up 0.2% with DAX up by 0.3%.  The major markets all ended stronger despite the escalation of the trade dispute between the US & China.

The bottom line in the US economy continues to be one of the strongest in the developed world, alongside the interest rate differentials and a central bank in tightening mode which is driving the US dollar higher.

AUDUSD is currently trading at us $0.7431 cents, Gold is down 0.2% at US 1255.20 while Iron Ore is up 1.1% trading at US $63.84 a tonne.

Global investors will be carefully seeing how China will response the increased tariff which took place Friday. CPI numbers are also due out in US with market expecting it to remain at 0.2%. For further information please contact our team of FX specialists throughout our 6 offices in Sydney, Melbourne & Brisbane.

DATA RELEASES THIS WEEK:

Monday:

JPY – BOJ Gov Kuroda Speaks

EUR – ECB President Draghi Speaks

Tuesday:

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

Wednesday:

EUR – President Draghi Speaks

Thursday:

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

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

GBP – Gov Carney Speaks

EUR – ECB Monetary Policy Meeting Accounts

 Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Market Updates 2/7/2018

ASX is pointing for a positive start to Monday’s trading session with SPI currently up 23 points at 6171. This is on the back of a stronger end to Wall Street and European’s markets with Dow Jones up 0.2%, S & P up 0.1% and Nasdaq up o,1%. In Europe, FTSE up 0.3%, CAC up 0.9% & DAX up 1.1%.

AUDUSD traded higher on Friday currently trading US $0.7404 cents on the back of the lower US dollar across most major currencies.  Gold was also trading higher up 0.4% at US $1,253.17. Iron Ore traded higher up by 0.9% US $65.02 a tonne. Ending the trading higher across most sectors.

There are few majors data releases this week, with GBP PMI due out today, ISM PMI due out in US on Tuesday and in Australia RBA rate announcement with the market expecting no movement from RBA chef. Australia Retail Sales is due out Wednesday with expectation only a 0.3% in the month of June, Trade Balance numbers to be 1.21 billion.

In the US, ADP Non-farm number is due out on Thursday that should give investors some indication to the Non-Farm payroll number on Friday with market expecting 200,000 jobs created in June and Unemployment rate will remain steady at 3.8%. Please contact our offices for further information.

DATA RELEASES THIS WEEK:

Monday:

GBP – Manufacturing PMI

Tuesday:

USD – ISM Manufacturing PMI

AUD – RBA Rate Statement

GBP – Construction PMI

Wednesday:

AUD – Retail Sales & Trade Balance

GBP – Services PMI

Thursday:

GBP – BOE Gov Carney Speaks

USD – ADP Non-Farm Employment Change

CAD – Employment Change, Trade Balance, Unemployment Rate

Friday:

ISM Non-Manufacturing PMO, Crude Oil Inventories, FOMX Meeting Minutes, Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Market Updates 25/06/2018

ASX are set to trade higher today on the back of stronger trading session on Friday, Dow Jones up by 0.5%, S & P up 0.2% and Nasdaq up by 0.3%.

In Europe, Stoxx 50 up by 1.1%, FTSE up 1.7%, CAC up by 1.3% and the DAX up 0.5%.

AUDUSD also rebounded up by 0.8% trading at US $0.7440 on the back of stronger Gold up 0.3% trading at US $1,270.56 an ounce, Iron Ore also traded higher up by 0.7% trading at US $65.28 per tonne. Not too many data releases this week but investors will be looking for the GDP numbers due out in the US on Thursday with market expecting it to be steady at 2.5%.

DATA RELEASES THIS WEEK:

Wednesday:

USD – CB Consumer Confidence & Cored Durable Goods Orders m/m

NZD – ANZ Business Confidence

GBP – BOE Gov Carney Speaks

Thursday:

USD – Crude Oil Inventories & Final GDP q/q

NZD – Official Cash Rate & RBNZ Rate Statement

Friday:

GBP – Current Account

CAD – GDP m/m & BOC Business Outlook Survey

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Market Updates 18/06/2018

ASX is shaping for a flat trading session on Monday with investors sidelined of what lies ahead in the trade dispute between US and China, with SPI flat at 6100. Little directions was giving on close of the bell in US, with Dow Jones down 0.3%, S & P down 0.1% & Nasdaq down 0.2%. In Europe, FSTE was up 1.7%, CAC down 0.5% & DAX down 0.7%.

AUDUSD continue to slide on the back of risk averse and strong US dollar last week. At the beginning on last week AUDUSD was above US $0.7600 cents and now trading around US $0.7439.

There’s no local data today and from overseas and puts investors on the sideline with a wait and see view. Investors will look for the speeches  from RBA Gov Lowe, ECB President Draghi, BOJ Gov Kuroda & Fed Chair Powell all on WednesdayOn Thursday, BOE is expecting to keep interest rate on hold at 0.5%.

DATA RELEASES THIS WEEK:

Tuesday:

EUR  – ECB President Draghi Speaks

AUD – Monetary Policy Meeting Minutes

USD – Building Permits

Wednesday:

AUD – RBA Gov Lowe Speaks

EUR – ECB President Draghi Speaks

JPY – BOJ Gov Kuroda Speaks

USD – Fed Chair Powell Speaks

Thursday:

USD – Crude Oil Inventories

NZD – GDP q/q

CHF – Libor Rate & SNB Press Confidence

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

Friday:

GBP – BOE Gov Carney Speaks

CAD – CPI m/m & Core CPI y/y

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998