Market Updates 20/05/2019

ASX is expected for a positive opening this morning with SPI currently up by 5 points with Australia election done and results are set to dominate early headlines today.

There were mixed results in US & European markets with Dow Jones closed down 0.4%, S & P down 0.6% & Nasdaq down 1%. In Europe, FTSE down 0.1%, CAC down 0.2% & DAX down 0.6%.

In Commodities, Gold closed down 0.7% to US $1277.53 an ounce, Brent Crude Oil down 0.6% to US $72.21 a barrel, US Oil down 0.2% to US $62.76 a barrel with Iron Ord up 2.5% to US 101.71 a tonne.

Investors will be looking ahead for the latest from the Reserve Bank tomorrow as bets continue to rise on interest rate cuts.  Governor Lowe might also take the opportunity to remind the market that the bank remains committed to its inflation target. Some commentators have suggested that the RBA should lower its 2-3% target or consider alternatives such as targeting nominal income. Another weak GDP would mark three consecutive quarters of weakness, marking it unlikely that the RBA will achieve its forecast that the annual growth will rebound to 2.6% by end of 2019.

In US, the market closed lower on Friday as continuing trade tensions pulled industrial and tech shares down. The 3 major US indexes struggled for direction for much of Friday, it turned decisively negative following a report from CNBC that US-China trade negotiations have stalled again.

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

DATA RELEASES THIS WEEK:

Monday:

Nil

Tuesday:

USD – Fed Chair Powell Speaks

AUDMonetary Policy Meeting Minutes

GBP – Inflation Report Hearings

Wednesday:

NZD – Retail Sales q/q

AUD – RBA Gov Lowe Speaks

GBP – CPI y/y

CAD – Core Retail Sales m/m

Thursday:

USD – FOMC Meeting Minutes

EUR – French Flash Manufacturing PMI, German Flash Manufacturing PMI & European Parliamentary Elections

Friday:

GBP – Retail Sales m/m

EUR – European Parliamentary Elections

USD – Core Durable Goods Orders m/m

 

Marketing Team
02 8197 0065

 

Market Updates 13/05/2019

AXS are poised to open higher with SPI currently up by 29 points. This is on the back of some positive closes in both US & European markets on Friday.

Dow Jones closed up 0.4%, S & P up by 0.4% & Nasdaq closed up by 0.1%. In Europe, FTSE down 0.1%, CAC up by 0.3% & DAX closed higher up by 0.7%. While talks in Washington last week failed to concluded with an agreement between US & China, both sides called the negotiations “constructive” and China said the talks would resume in Beijing. China’s equity market has improved dramatically and help improve their perceived negotiating position while US markets have fully recovered from the trade wall sell-off, the data point to a soft landing and the Fed has signaled that it will do what it takes to sustain a strong labor market and inflation pressure. Over the weekend IFM expands in US with $9.3b pipeline acquisition. IFM investors continued its expansion into the US energy sector with the $9.3b purchase of Houston-based pipeline operator Buckeye.

In Commodities, Gold ended the week higher up by 0.2% to US 1286.05 a ounce, Brent Oil up by 0.3% to US $ 70.62 a barrel, US Oil up closed lower down 0.1% to US $61.66 a barrel. Iron Ore up by 2% to US $97.24 a tonne. AUDUSD ended the week higher up by 0.2% to US 0.7002 cents.

As it is election week in Australia and we have limited data this week. On Wednesday, we have the Wage Price Index in Australia and Retail Sales numbers due out in the US. On Thursday, we have employment numbers due out in Australia with the market expecting 15,200 job created in the month of April and unemployment to remain at 5%.

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

DATA RELEASES THIS WEEK:

Monday:

Nil

Tuesday:

GBP – Average Earnings Index 3m/y

Wednesday:

AUD – Wage Price Index q/q

CAD – CPI m/m

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

Thursday:

AUD – Employment Change & Unemployment Rate

Friday:

CAD – BOC Gov Poloz Speaks

 

Marketing Team
02 8197 0065

 

Market Updates 6/5/2019

ASX is expecting a positive start to this Monday’s trading session with SPI currently up by 31 points. This is boosted by strong results and another record closes in the US with Dow Jones closed up by 0.8%, S & P up by 1% & Nasdaq closed up by 1.6%. The Nasdaq registered a record high close while the S & P ended just shy of a record high finish as April’s jobs data easily surpassed expectations with non-farm numbers coming in at 263,000 with unemployment rate dropping to 3.6% from 3.8% from previous months.

In Europe, FTSE closed up by 0.4%, CAC up by 0.2% & DAX closed up by 0.6%.

In Commodities, Gold ended the week higher up by 0.7% to US 1279.11 an ounce, Brent Oil up by 0.1% to US 70.83 a barrel, US Oil up by 0.2% to US 61.94  a barrel and Iron Ore was unchanged closing at US 94.17 a tonne.

In the local market, investors will be waiting for Elections Day this Saturday with only the Wage Price Index number due out on Wednesday. In the US, Retail Sales are due on Wednesday. Speculators raised their net long bets on the US dollar to the highest since December 2015 in the latest week, according to calculations by Reuters and Commodity Futures Trading Commission Data released on Friday. The value of the net long dollar position was $US 38.88 billion in the week to April 30, up from US 37.21 billion the previous week.

Please contact of our Specialists for further information or trading opportunities.

DATA RELEASES THIS WEEK:

Monday:

Nil

Tuesday:

AUD – RBA rate announcement

GBP – Average Earnings Index 3m/y

Wednesday:

AUD – Wage Price Index q/q

CAD – CPI m/m

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

Thursday:

AUD – Employment Change & Unemployment Rate

Friday:

GBP – Retail Sales

 

Marketing Team
02 8197 0065

Weekly Market Updates – 29/04/2019

ASX is set to open slightly lower with SPI currently down 2 points at 6366 on back of some key economic data and a Federal Reserve meeting this week.

The markets closed higher in both US & and mixed closes in Europe, with the Dow Jones closed up 0.3%, S & P up 0.5% & Nasdaq up 0.3%. In Europe, FTSE closed down 0.1%, DAX closed up 0.3% & CAC up by 0.2%. In Commodities, Gold closed up higher ending 0.7% to US 1286.25 an ounce, Brent crude closed flat at US 72.15 a barrel while US oil closed down 0.3% to US 62.85 a barrel. Iron Ore up by 0.1% to US 93.58 a tonne.

AUDUSD closed up by 0.3% to US 0.7038 cents after it spiked up pass 0.7067 cents during Friday evening.

Big corporate results are expected after Wall Street ended a record breaking week on a high. Investors are expecting results from McDonalds, Google and Apple, while the US Federal Reserve will hold its next policy meeting. Economic data includes PCE inflation in the US and first quarter GDP numbers for the Euro zone composite. There are some major data being released this week starting with PMI numbers due out in China on Thursday with the market expecting a steady 51.0. Bank of England will be announcing their cash rate tip to be unchanged at 0.75%. On Friday, Building Approval numbers is due for Australia and it has been tipped to decline to 12.5% from March. In the evening, Non-Farm numbers and Unemployment rate is due out in US, with the market expecting 181,000 jobs added in March and unemployment rate to be steady at 3.8%.

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

DATA RELEASES THIS WEEK:

Monday:

No Results

Tuesday:

CNY – Manufacturing PMI

NZD – ANZ Business Confidence

CAD – GDP m/m

Wednesday:

USD – CB Consumer Confidence

NZD – Employment Change q/q & Unemployment Rate

Thursday:

USD – FOMC Statement, Federal Fund Rate, FOMC Press Confidence

CNY – Caixin Manufacturing PMI

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

Friday:

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

Marketing Team
02 8197 0065

Market Updates 15/4/2019

ASX is looking for a flat opening in today’s opening market. SPI is currently flat at 6236, there was a positive closes in US & European markets on Friday with Dow Jones closed up 0.1%, S & P up 0.7% & Nasdaq up 0.5%. In Europe, FTSE closed up 0.3%, CAC up 0.3% & DAX closed up 0.5%. AUDUSD had a strong run but ended up closing down 0.2% to US 0.7170 cents. In Commodities, Gold also closed down 0.2% to US 1290.35 an ounce. Brent crude oil up by 1% to US 71.55 a barrel while US oil closed up by 0.5% to US 63.89  a barrel. Iron ore up by 0.9% to US 96.47 a tonne.

A positive quarterly earnings report form JP Morgan Chase and a confidence boosted by CEO Jamie Dimon declared that US growth could go for years and there is no sign of any recession before 2022. The results helped drove optimism in European and US markets on Friday, with shares on both continents closing the session firmly higher. The US bank posted record profits and revenues for the first quarter of 2019, with many of the company’s results coming in ahead of expectations.

The solid performance in the US was offset somewhat by forecasts that Chinese economic growth could ease to its slowest pace since the early 1990’s. A Reuters poll on Friday showed China’s economic growth was expected 30 year low of 6.2% this year as sluggish demand both locally and aboard weighed on activity despite a flurry of policy support measures. Over the weekend, US Treasury Secretary Mnuchin signaled optimism over the potential for a US – China trade agreement, saying the two sides were “close to the final rounds” of negotiations.

There are a host of data releases this week that investors will be focusing on. In Australia, there is the minutes releases from RBA on Tuesday. On Wednesday, we have China’s GDP quarterly numbers due out with the market expecting a steady 6.3% and later that evening, we have CPI yearly numbers coming out in the UK with the market expecting a small increase to 2% from 1.9% the previously year.

On Thursday, job data is due out in Australia with the market expecting 15,200 job created in March with unemployment rate steady at 5%. In the evening, we have PMI numbers due out in France, Germany and retail sales numbers from UK. Retail sales are also due out in the US with the market expecting 0.7% increase from a negative 0.4% the previous month.

For further question or trading opportunities please contact on our FX specialists today.

DATA RELEASES THIS WEEK:

Monday:

Nil

Tuesday:

CAD – BOC Business Outlook Survey

AUD – Monetary Policy Meeting Minutes

GBP – Average Earnings Index 3m/y

Wednesday:

NZD – CPI q/q

CNY – GDP q/y

GBP – CPI y/y

CAD – CPI m/m  & Trade Balance

Thursday:

GBP – BOE Gov Carney Speaks

AUD – Employment Change & Unemployment Rate

EUR – French Flash Services PMI, German Flash Service PMI

GBP – Retail Sales m/m

CAD – Core Retails Sales m/m

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

Friday:

Nil

 

 

Marketing Team
02 8197 0065

Market Updates 8/4/2019

ASX is looking for a positive trading start to this Monday’s opening session in Australia with SPI up by 32 points. This is on the back of strong trading close in US with shares on Wall Street advanced on Friday boosted by a stronger than expected March jobs report, which helped to ease concerns about the strength of the overall economy.

Dow Jones closed up 0.2%, S & P up by 0.5% and Nasdaq closed up 0.6%. In Europe, FTSE closed up 0.6%, CAC up by 0.2% & DAX closed up by 0.2%.

In Commodities, Gold ended flat at US 1291.76 a ounce, Brent crude up by 1.4% to US 70.34 a barrel, US crude oil up by 1.4% to US 63.08 a barrel with Iron Ore flat at US 92.90 a tonne.

RBA will return to the stage this week with Deputy Gov Guy Debelle will a speech on Tuesday on The State of the Economy. The market is expecting RBA to cut interest twice this year, pencilling in the first cut in July. On Friday, RBA will release its latest Financial Stability Review. This may shed light on whether the deterioration in the housing market is having a greater impact on households.

Overseas this week, Brexit is in the focus ahead of an EU leaders summit on Wednesday. UK Prime Minster Theresa May has asked the EU to delay Brexit until June 20 as she will continue to see a way forward. In US, CPI numbers are due out on Thursday with market expecting 0.3% steady increase from previous month in February. PPI numbers is also due on Wednesday with market also expecting a steady increase to 0.3% from 0.1% the previous month on February.

Please contact of our specialists for further information or trading opportunities.   

DATA RELEASES THIS WEEK:

Monday & Tuesday:

Nil

Wednesday:

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

EUR – Main Refinancing Rate, Monetary Policy Statement & ECB Press Conference

USD – CPI m/m & Core CPI m/m

Thursday:

USD – FOMC Meeting Minutes & PPI m/m

Friday:

Nil

 

Marketing Team
02 8197 0065

 

Market Updates 1/4/2019

ASX is posed to extend rally on the back of strong closing of the markets in US & Europe. SPI is currently up by 18 points at 6189. In US, Dow Jones closed up 0.8%, S & P up 0.7% & Nasdaq up by 0.8%. In Europe, FTSE closed up 0.6%, CAC up by 1% & DAX closed up 0.8%.

In Commodities, Gold closed up by 0.2% to US 1292.38 an ounce, Bret Crude closed up 0.8% to US 68.39 a barrel while US Crude closed up 1.4% to US 60.14 a barrel. Iron Ore up by 2.5% to US 86.81 a tonne.

With strong commodities prices in both Gold and Iron Ore, AUDUSD also closed higher to 0.3% closing at US 0.7096 cents.

There are wrath of data to watch out for this week starting from Today’s PMI numbers from China. Tuesday we have PMI numbers out of US and in local market, New building numbers and RBA cash rate due out in Australia. The market is tipping a decreases in building approvals with a negative 1.7% downturn. RBA is also tipped to hold rate on 1.50%. On Wednesday we have our local Retail sales number with the market expecting a slight increase of 0.3% for 0.1% the previous month. During the evening, we have ADP non-farm number, this is also a good indicator on how the Non-Farm numbers are due on Friday in the US. Friday, we have the non-farm number due out with the market expecting 175,000 jobs created in March. The US is facing some pressure with only 20,000 created in the previous month. Unemployment is tipped to remain steady at 3.8%.

Please contact on our Specialists for further information or trading opportunities

DATA RELEASES THIS WEEK:

Monday:

CNY – Caixin Manufacturing PMI

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

Tuesday:

USD – ISM Manufacturing PMI & Core Durable Goods Orders m/m

CAD – BOC Gov Poloz Speaks

AUD – Building Approvals m/m,  RBA Rate Statement & Annual Budget Release

Wednesday:

AUD – Retail Sales m/m & Trade Balance

USD – ADP Non-Farm Employment Change

Thursday:

NO MAJOR DATA

Friday:

CAD – Employment Change & Unemployment Rate

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

 

Marketing Team
02 8197 0065

 

Market Updates 25/03/2019

ASX is posed for a negative opening with SPI currently down 50 points at 6133. This is on the back of sell off in Wall Street & Major European markets on Friday.

Dow Jones closed down 1.8%, S & P down 1.9% & Nasdaq closed down 2.5%. In Europe, FTSE down 2%, CAC down 2% & DAX closed down 1.6%. The markets reacted to renewed fears of a global economic slowdown, which sparked a savage global sell-off. Disappointed data suggesting more sluggish manufacturing conditions in both US & Germany cast doubt on the equity markets’ strong start to the year, causing shares on Wall Street to record their worst fall since January 5.

AUDUSD is currently trading at US $0.7081 cents. Gold closed higher 0.3% at US $1313.70, Brent Oil down 1.2% at US $67.03 a barrel with Iron Ore up 1.7% at US 85.96 a tonne.

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

DATA RELEASES THIS WEEK:

Monday & Tuesday – No Major Dataa

Wednesday:

USD – CB Consumer Confidence

NZD – Official Cash Rate &  RBNZ Rate Statement

EUR – ECB President Draghi Speaks

CAD – Trade Balance

Thursday:

NZD – ANZ Business Confidence

USD – Final GDP q/q

Friday:

NZD – RBNZ Gov Orr Speaks

CAD – GDP m/m

GBP – Parliament Brexit Vote

 

 

Marketing Team
02 8197 0065

Market Updates 18/03/2019

ASX is set for a positive trading session on Monday’s opening trade with SPI currently up 35 points at 6206. This is on the back of another strong close in Wall Street on Friday with Dow Jones up by 0.5%, S & P up 0.5% & Nasdaq closed up by 0.8%. In Europe, FTSE up by 0.6%, CAC up by 1% & DAX closed up by 0.9%.

The S & P posted its best weekly gains since the end of November 2018 and Nasdaq had its best weekly gains so far this year.

AUDUSD also had a strong close up by 0.3% at US $0.7085 cents. In Commodities, Spot Gold close up 0.5% to US $1302.40 an ounce, Brent oil down 0.1% to US $67.16 a barrel, US Oil down 0.2% to US $58.52 a barrel with Iron Ore also closed down 0.8% to US 86.52 a tonne.

The week ahead will be dominated by Brexit, policy meetings at the US Federal Reserve and Bank of England and the state of US/China Trade talks. Starting from tomorrow, RBA is due to announce their policy meetings. On Wednesday, we have another Brexit vote and CPI numbers due out with the market expecting a steady 1.9%.

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

DATA RELEASES THIS WEEK:

Tuesday:

AUD – Monetary Policy Meeting Minutes

GBP = Average Earnings Index 3/m

Wednesday:

GBP – Parliament Brexit Vote & CPI y/y

Thursday:

USD – FOMC Economic Projections, FOMC Statement & FOMC Press Conference

AUD – Employment Change & Unemployment Rate

CHF – SNB Monetary Policy Assessment & SNB Press Conference

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

Friday:

EUR – French Flash Services PMI & German Flash Manufacturing PMI

CAD – CPI m/m & Core Retail Sales m/m

 

 

Marketing Team
02 8197 0065

Market Updates 14/01/2019

AXS is posed to opening higher on Monday’s trading session with investors awaits for the start of the US’s corporate reporting season. SPI us currently trading higher up 15 points at 5743.

On the closing markets overseas on Friday, both Dow Jones and S & P was unchanged while NASDAQ closed down 0.5%. In Europe, FSTE closed down 0.4%, CAD down 0.5% and DAX closed down 0.5%.

AUDUSD closed higher up 0.4% to US $0.7215 on the back of a USD retreat  with expectation for interest rate rises by US Federal Reserve. The dollar index is down 1% this year at 95.219. In 2018, the dollar index has its strongest performance since 2015 as the US rate-rise cycle advanced and worries of a trade war boosted the currency’s safe-haven appeal to investors.

Brent Crude Oil closed down 2% to US 60.48 a barrel while US Crude Oil closed down 1.9% to US 51.59 a barrel. Iron Oil closed up 0.1% to US 73.45 a tonne.

There are very little data this week as global investors will be focusing on US corporate earnings. Brexit votes on Wednesday and the two days G20 submitted held on Thursday and Friday.

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

DATA RELEASES THIS WEEK:

Wednesday:

USD – PPI m/m

EUR – EXV President Draghi Speaks

GBP – Parliament Brexit Vote, BOE Gov Carney Speaks, CPI y/y

Thursday:

G20 Meetings

JPY – BOJ Gov Kuroda Speaks

Friday:

GBP – Retails Sales m/m

 

Marketing Team
02 8197 0065