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Market Opener – 01 Feb 2018
Local Markets Commentary
The Australian market opens a new month’s trade on mixed overnight international equities and commodities trade leads, ahead of further influential regional and domestic data.
Regionally today, Caixin is due to report its January manufacturing PMI for China 12.45pm AEDST.
A final manufacturing PMI is also due for Japan 11.30am.
Locally, AiG publishes its January manufacturing sector activity index 9.30am AEDST.
The ABS reports December building approvals and December quarter import and export price indices, at 11.30am.
A January house price index is also expected.
In overnight commodities trade, US gold turned higher.
Oil also swung to settle higher. Iron ore (China port, 62% Fe) slipped a little further.
LME copper and nickel turned to rally.
The $A fell to ~US80.60c after approaching US80.95c early yesterday evening.
Overseas Market Commentary
Vacillating sentiment was evident across major European and US equities markets overnight, amid key reports, a plethora of corporate earnings, and influential economic indicators yet to come this week.
The US Federal Reserve’s post-policy meeting statement maintained a strengthening economy stance and indicated the inflation growth outlook had improved, supporting views that another interest rate rise could come as early as March.
A private sector payrolls report indicated 234,000 jobs were added in January against expectations of ~190,000.
December pending home sales rose 0.5%.
An initial January CPI reading for the euro zone indicated 1.3% growth for the month, following 1.4% for December, and representing a second consecutive month of slower growth.
The UK’s -9 GfK consumer confidence reading represented a four-point improvement on December.
Tonight in the US, ISM’s January manufacturing sector activity index is due, together with weekly new unemployment claims, a January jobs layoffs report and December construction spending.
Alibaba, Alphabet, Amazon, Apple, Blackstone, ConocoPhillips, DowDuPont, Glencore, Mastercard, Royal Dutch Shell, Time Warner, Unilever and Vodafone are among companies scheduled to report earnings or provide trading updates.
In overnight corporate news, Ericsson dropped ~9%, with a larger-than-anticipated December quarter loss and weak outlook statement for its China business.
Facebook has fallen post-US trade, following disappointing user time figures.
The Australian market opens a new month’s trade on mixed overnight international equities and commodities trade leads, ahead of further influential regional and domestic data.
Regionally today, Caixin is due to report its January manufacturing PMI for China 12.45pm AEDST.
A final manufacturing PMI is also due for Japan 11.30am.
Locally, AiG publishes its January manufacturing sector activity index 9.30am AEDST.
The ABS reports December building approvals and December quarter import and export price indices, at 11.30am.
A January house price index is also expected.
In overnight commodities trade, US gold turned higher.
Oil also swung to settle higher. Iron ore (China port, 62% Fe) slipped a little further.
LME copper and nickel turned to rally.
The $A fell to ~US80.60c after approaching US80.95c early yesterday evening.
Overseas Market Commentary
Vacillating sentiment was evident across major European and US equities markets overnight, amid key reports, a plethora of corporate earnings, and influential economic indicators yet to come this week.
The US Federal Reserve’s post-policy meeting statement maintained a strengthening economy stance and indicated the inflation growth outlook had improved, supporting views that another interest rate rise could come as early as March.
A private sector payrolls report indicated 234,000 jobs were added in January against expectations of ~190,000.
December pending home sales rose 0.5%.
An initial January CPI reading for the euro zone indicated 1.3% growth for the month, following 1.4% for December, and representing a second consecutive month of slower growth.
The UK’s -9 GfK consumer confidence reading represented a four-point improvement on December.
Tonight in the US, ISM’s January manufacturing sector activity index is due, together with weekly new unemployment claims, a January jobs layoffs report and December construction spending.
Alibaba, Alphabet, Amazon, Apple, Blackstone, ConocoPhillips, DowDuPont, Glencore, Mastercard, Royal Dutch Shell, Time Warner, Unilever and Vodafone are among companies scheduled to report earnings or provide trading updates.
In overnight corporate news, Ericsson dropped ~9%, with a larger-than-anticipated December quarter loss and weak outlook statement for its China business.
Facebook has fallen post-US trade, following disappointing user time figures.