Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should seek the relevant advice.
Market Opener – 18 Mar 2019
Local Markets Commentary
The Australian market commences a new week’s trade following positive talk out of China since post-ASX trade Friday, ahead of key data out of Japan today, and with a quarterly S&P/ASX indices rebalance effected on open.
Regionally today, Japan is scheduled to report February trade figures 10.50am AEDT, ahead of revised January industrial production 3.30pm.
Late and overnight Friday, China’s premier announced a manufacturing sector tax cut and repeated the administration’s capacity to offer further stimulus.
Locally today, a weekly capital city residential property price report is due pre-trade.
In overnight Friday commodities trade, Brent crude and WTI each settled slightly lower.
US gold futures (April) turned higher.
Iron ore (China port, 62% Fe) declined.
LME copper and nickel swung higher, but nickel ultimately achieved just a relatively small gain. Aluminium was pushed lower.
The $A mostly maintained gains after surpassing US70.90c early Friday evening.
Overseas Market Commentary
Major European and US equities markets demonstrated a broad swing higher for risk sentiment overnight Friday.
China premier Li Keqiang again asserted Friday that administrators still held sufficient capacity to be able to stimulate economic growth.
Meanwhile, the US president vetoed a House of Representatives vote rejecting his declaration of emergency regarding the US-Mexico border.
The European Union (EU) is also reportedly considering ending the UK’s EU membership come 1 July if the UK requests a longer-than-three-months extension to separation plans and then fails to participate in 23 – 26 May European parliament elections.
Further UK government updates are anticipated from later today through tomorrow night.
Among new overnight Friday data releases, the euro zone’s final February CPI growth reading came in at 0.3% for the month, following 1.0% deflation in January.
Year-on-year, February CPI grew 1.5%.
In the US, February industrial production was reported 0.1% higher, following a 0.4% January decline. Year-on-year, output increased 3.5%.
The manufacturing component fell 0.4% for the month, following a 0.5% January drop.
A New York region March manufacturing activity index dropped to 3.70 from 8.8.
The University of Michigan’s initial March consumer sentiment estimate represented a four-point rise to 97.8.
A January job openings report included 7.58M opportunities, against 7.48M in December.
Tonight in the US, a home builders’ sentiment index is due.
Elsewhere, the euro zone reports January trade figures.
China’s Angang Steel is scheduled to report earnings.
In corporate news since ASX trade Friday, Deutsche Bank and Commerzbank publicly confirmed they are investigating potential merger benefits.
The Australian market commences a new week’s trade following positive talk out of China since post-ASX trade Friday, ahead of key data out of Japan today, and with a quarterly S&P/ASX indices rebalance effected on open.
Regionally today, Japan is scheduled to report February trade figures 10.50am AEDT, ahead of revised January industrial production 3.30pm.
Late and overnight Friday, China’s premier announced a manufacturing sector tax cut and repeated the administration’s capacity to offer further stimulus.
Locally today, a weekly capital city residential property price report is due pre-trade.
In overnight Friday commodities trade, Brent crude and WTI each settled slightly lower.
US gold futures (April) turned higher.
Iron ore (China port, 62% Fe) declined.
LME copper and nickel swung higher, but nickel ultimately achieved just a relatively small gain. Aluminium was pushed lower.
The $A mostly maintained gains after surpassing US70.90c early Friday evening.
Overseas Market Commentary
Major European and US equities markets demonstrated a broad swing higher for risk sentiment overnight Friday.
China premier Li Keqiang again asserted Friday that administrators still held sufficient capacity to be able to stimulate economic growth.
Meanwhile, the US president vetoed a House of Representatives vote rejecting his declaration of emergency regarding the US-Mexico border.
The European Union (EU) is also reportedly considering ending the UK’s EU membership come 1 July if the UK requests a longer-than-three-months extension to separation plans and then fails to participate in 23 – 26 May European parliament elections.
Further UK government updates are anticipated from later today through tomorrow night.
Among new overnight Friday data releases, the euro zone’s final February CPI growth reading came in at 0.3% for the month, following 1.0% deflation in January.
Year-on-year, February CPI grew 1.5%.
In the US, February industrial production was reported 0.1% higher, following a 0.4% January decline. Year-on-year, output increased 3.5%.
The manufacturing component fell 0.4% for the month, following a 0.5% January drop.
A New York region March manufacturing activity index dropped to 3.70 from 8.8.
The University of Michigan’s initial March consumer sentiment estimate represented a four-point rise to 97.8.
A January job openings report included 7.58M opportunities, against 7.48M in December.
Tonight in the US, a home builders’ sentiment index is due.
Elsewhere, the euro zone reports January trade figures.
China’s Angang Steel is scheduled to report earnings.
In corporate news since ASX trade Friday, Deutsche Bank and Commerzbank publicly confirmed they are investigating potential merger benefits.