Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 08 Dec 2017
Local Markets Commentary
The Australian market commences Friday trade ahead of influential regional data.
In addition, post-overnight trade, Palestinian-Israel protestors have appeared more targeted following a call for more intense Friday activity.
Regionally today, China’s November trade figures are anticipated 2pm AEDST.
November CPI and PPI are scheduled for release over the weekend.
Japan is due to release a final September quarter GDP reading 10.50am AEDST.
Locally, November housing finance figures are due 11.30am AEDST.
In overnight commodities trade, oil turned higher and gold futures lower.
Iron ore (China port, 62% Fe) dropped for a second consecutive session.
LME copper continued a little higher, while nickel swung and rallied.
The $A continued lower, to ~US75.10c, after falling to ~US75.25c early yesterday evening.
Overseas Market Commentary
Choppy trade again suggested caution across major European and US equities markets overnight, but key US indices notably traded higher in concert. Yesterday, the IMF had warned of risk within China’s banking sector, due to national debt levels.
In early data releases, Germany’s October industrial production was reported 1.4% lower for the month, after dropping 1.6% in September and following expectations of a 1.0% pick-up.
The euro zone’s final September quarter GDP reading came in at 0.6% growth for the three months, as expected, and 2.6% on an annual basis.
European Council president Donald Tusk in the meantime scheduled a 6.50am UK-time Friday statement after the UK and European Union struggled this week to progress separation negotiations, largely on a UK government impasse on an Irish border agreement.
US data releases included a jobs layoff report revealed companies planned to axe ~35,000 positions in November, 30% more than a year ago. The total January – November planned layoffs came in at a 20-year low, however.
Meanwhile, weekly new unemployment claims fell for a third consecutive week.
October consumer credit reportedly rose by $US20.5B after climbing $US19.2B in September.
All the while, US parliamentary negotiators worked on an agreement for interim (two-week) stop-gap funding for US government operations.
Tonight in the US monthly employment figures are due, together with the University of Michigan’s initial December consumer sentiment reading. October wholesale inventories are also expected.
In overnight corporate news, General Electric announced it was slimming its power business by up to 20% (12,000 positions) over two years.
The Australian market commences Friday trade ahead of influential regional data.
In addition, post-overnight trade, Palestinian-Israel protestors have appeared more targeted following a call for more intense Friday activity.
Regionally today, China’s November trade figures are anticipated 2pm AEDST.
November CPI and PPI are scheduled for release over the weekend.
Japan is due to release a final September quarter GDP reading 10.50am AEDST.
Locally, November housing finance figures are due 11.30am AEDST.
In overnight commodities trade, oil turned higher and gold futures lower.
Iron ore (China port, 62% Fe) dropped for a second consecutive session.
LME copper continued a little higher, while nickel swung and rallied.
The $A continued lower, to ~US75.10c, after falling to ~US75.25c early yesterday evening.
Overseas Market Commentary
Choppy trade again suggested caution across major European and US equities markets overnight, but key US indices notably traded higher in concert. Yesterday, the IMF had warned of risk within China’s banking sector, due to national debt levels.
In early data releases, Germany’s October industrial production was reported 1.4% lower for the month, after dropping 1.6% in September and following expectations of a 1.0% pick-up.
The euro zone’s final September quarter GDP reading came in at 0.6% growth for the three months, as expected, and 2.6% on an annual basis.
European Council president Donald Tusk in the meantime scheduled a 6.50am UK-time Friday statement after the UK and European Union struggled this week to progress separation negotiations, largely on a UK government impasse on an Irish border agreement.
US data releases included a jobs layoff report revealed companies planned to axe ~35,000 positions in November, 30% more than a year ago. The total January – November planned layoffs came in at a 20-year low, however.
Meanwhile, weekly new unemployment claims fell for a third consecutive week.
October consumer credit reportedly rose by $US20.5B after climbing $US19.2B in September.
All the while, US parliamentary negotiators worked on an agreement for interim (two-week) stop-gap funding for US government operations.
Tonight in the US monthly employment figures are due, together with the University of Michigan’s initial December consumer sentiment reading. October wholesale inventories are also expected.
In overnight corporate news, General Electric announced it was slimming its power business by up to 20% (12,000 positions) over two years.