Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should seek the relevant advice.
Market Opener – 26 Sep 2019
Local Markets Commentary
The Australian market opens today’s trade with three central bank heads due to speak publicly later today and tonight, and a US GDP reading also keenly anticipated, amid ongoing UK parliamentary turmoil and several simmering geopolitical scenarios.
Post-US trade, Saudi Arabia has reportedly confirmed it is awaiting the determinations of an investigation, and also consulting with allies, regarding a response to mid-September attacks on the kingdom’s oil operations.
The attacks were quickly claimed by Yemen’s Houthi militia, but attributed by Saudi Arabia and some allies to Iran.
Locally today, several high-profile companies trade ex-dividend. Please see pp4-5 for a detailed list.
Regionally, Bank of Japan governor Haruhiko Kuroda is again scheduled to speak publicly, but post-ASX trade.
In overnight commodities trade, oil headed lower.
US gold futures (December) fell.
Iron ore (Nymex CFR China, 62% Fe) was pushed modestly lower.
LME copper turned to climb a little. Nickel swung to resume a more rally-like finish. Aluminium continued to decline.
The $A slipper further, to ~US67.50c, after dropping to ~US67.80c early yesterday evening.
Post-US trade, Saudi Arabia has reportedly confirmed it is awaiting the determinations of an investigation, and also consulting with allies, regarding a response to mid-September attacks on the kingdom’s oil operations.
The attacks were quickly claimed by Yemen’s Houthi militia, but attributed by Saudi Arabia and some allies to Iran.
Locally today, several high-profile companies trade ex-dividend. Please see pp4-5 for a detailed list.
Regionally, Bank of Japan governor Haruhiko Kuroda is again scheduled to speak publicly, but post-ASX trade.
In overnight commodities trade, oil headed lower.
US gold futures (December) fell.
Iron ore (Nymex CFR China, 62% Fe) was pushed modestly lower.
LME copper turned to climb a little. Nickel swung to resume a more rally-like finish. Aluminium continued to decline.
The $A slipper further, to ~US67.50c, after dropping to ~US67.80c early yesterday evening.
Overseas Market Commentary
Major European equities markets headed lower on opening overnight.
By contrast, key US equities opened higher and rose further to settle at or near session highs, after the US president promoted a ‘sooner-than-expected’ US trade agreement with China.
Further, Department of Agriculture figures revealed Chinese companies had purchased a further 581,000t of US soybeans.
In the UK, the House of Commons resumed following a Supreme Court ruling (Tuesday evening AEST) that the suspension of parliament was unlawful.
Following emotional and boisterous debate, and a further push for a national election, the PM has earlier this morning walked out during a ‘point of order’.
In overnight data releases, US August new home sales jumped 7.1% for the month, following an 8.6% July drop.
Weekly mortgage applications tumbled 10.1%. Mean 30-year mortgage rates rose from 4.01% to 4.02%.
Meanwhile, the International Monetary Fund (IMF) has confirmed former World Bank CEO Kristalina Georgieva as its new MD, effective 1 October (Tuesday next week).
Ms Georgieva is to taking over from Christine Lagarde, who is the European Central Bank’s (ECB) president-elect.
Tonight in the US, a final June quarter GDP reading is anticipated, together with weekly new unemployment claims, August pending home sales, a goods trade balance, preliminary August wholesale inventories, and a regional manufacturing index.
Up to half a dozen Federal Reserve officials are listed to speak publicly.
Elsewhere, both European Central Bank president Mario Draghi and Bank of England governor Mark Carney are scheduled to speak in Frankfurt, which hosts the ECB headquarters.
In the UK parliament tonight, a House of Commons a democracy and electorate rights debate is scheduled.
By contrast, key US equities opened higher and rose further to settle at or near session highs, after the US president promoted a ‘sooner-than-expected’ US trade agreement with China.
Further, Department of Agriculture figures revealed Chinese companies had purchased a further 581,000t of US soybeans.
In the UK, the House of Commons resumed following a Supreme Court ruling (Tuesday evening AEST) that the suspension of parliament was unlawful.
Following emotional and boisterous debate, and a further push for a national election, the PM has earlier this morning walked out during a ‘point of order’.
In overnight data releases, US August new home sales jumped 7.1% for the month, following an 8.6% July drop.
Weekly mortgage applications tumbled 10.1%. Mean 30-year mortgage rates rose from 4.01% to 4.02%.
Meanwhile, the International Monetary Fund (IMF) has confirmed former World Bank CEO Kristalina Georgieva as its new MD, effective 1 October (Tuesday next week).
Ms Georgieva is to taking over from Christine Lagarde, who is the European Central Bank’s (ECB) president-elect.
Tonight in the US, a final June quarter GDP reading is anticipated, together with weekly new unemployment claims, August pending home sales, a goods trade balance, preliminary August wholesale inventories, and a regional manufacturing index.
Up to half a dozen Federal Reserve officials are listed to speak publicly.
Elsewhere, both European Central Bank president Mario Draghi and Bank of England governor Mark Carney are scheduled to speak in Frankfurt, which hosts the ECB headquarters.
In the UK parliament tonight, a House of Commons a democracy and electorate rights debate is scheduled.