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
Andrew Law
General Manager
D: 61 2993 0795
M: 0411 625 998

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)

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

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

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

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

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

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

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

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

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

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

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

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