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Market Opener – 18 Dec 2017
Local Markets Commentary
The Australian market opens the last full week’s trade for 2017 on positive international equities leads ahead of influential regional and domestic reports.
The Australian government releases its mid-year budget update, known as the Mid-Year Economic & Fiscal Outlook (MYEFO), at ~12.15pm AEDST.
Pre-trade, a weekly capital city residential property price report is due.
November new motor vehicle sales are expected 11.30am AEDST.
Regionally today, China is scheduled to publish November property prices 12.30pm AEDST.
Japan is due to reveal November trade figures 10.50am AEDST.
In overnight Friday commodities trade, WTI crude rose but Brent settled lower. US gold futures closed virtually flat. LME copper extended its latest run. Nickel rose sharply.
The $A fell to ~US76.45c after appreciating to ~US76.90c early Friday evening.
Overseas Market Commentary
Major European equities markets opened lower overnight Friday, but were pulled higher by US tax legislation agreement optimism, and European Commission confirmation that UK-EU separation talks would progress to the next level.
Among US data releases the New York region (Empire State) manufacturing index was reported lower for a second consecutive month, this time down 1.6 points to 18.
November industrial production was calculated to have improved 0.2%.
The euro zone’s October trade surplus came in at a €19B three-month low, following €24.5B for September.
Tonight in the US, a home builders’ housing market index is due. For the euro zone, a final November CPI reading is anticipated.
The Australian market opens the last full week’s trade for 2017 on positive international equities leads ahead of influential regional and domestic reports.
The Australian government releases its mid-year budget update, known as the Mid-Year Economic & Fiscal Outlook (MYEFO), at ~12.15pm AEDST.
Pre-trade, a weekly capital city residential property price report is due.
November new motor vehicle sales are expected 11.30am AEDST.
Regionally today, China is scheduled to publish November property prices 12.30pm AEDST.
Japan is due to reveal November trade figures 10.50am AEDST.
In overnight Friday commodities trade, WTI crude rose but Brent settled lower. US gold futures closed virtually flat. LME copper extended its latest run. Nickel rose sharply.
The $A fell to ~US76.45c after appreciating to ~US76.90c early Friday evening.
Overseas Market Commentary
Major European equities markets opened lower overnight Friday, but were pulled higher by US tax legislation agreement optimism, and European Commission confirmation that UK-EU separation talks would progress to the next level.
Among US data releases the New York region (Empire State) manufacturing index was reported lower for a second consecutive month, this time down 1.6 points to 18.
November industrial production was calculated to have improved 0.2%.
The euro zone’s October trade surplus came in at a €19B three-month low, following €24.5B for September.
Tonight in the US, a home builders’ housing market index is due. For the euro zone, a final November CPI reading is anticipated.