Good morning, Tumul Sinha Research Analyst here with your First Look.
The futures market is up 7 points this morning in early trade.
Overnight the U.S. CPI for the month of August was announced to be 0.4% higher, bolstering the case for a third interest rate increase for the year.
What’s on today
Local data: BusinessNZ manufacturing PMI August
Overseas data: US Empire manufacturing index September, Retail sales August, Industrial production August, UofM preliminary consumer sentiment September
SPI futures up 7 points or 0.1% to 5742
AUD +0.3% at 80.06 US cents (Overnight range: 0.7956 – 0.8016)
On Wall St: Dow +0.2%, S&P 500 -0.1%, Nasdaq -0.5%
In New York, BHP -1.6% Rio -1.8%
In Europe: Stoxx 50 +0.1%, FTSE -1.1%, CAC +0.2%, DAX -0.1%
Spot gold +0.3% to $US1326.46 an ounce
Brent crude +0.1% to $US55.22 a barrel
US oil +0.8% to $US49.67 a barrel
Iron ore -3.4% to $US73.99 a tonne
Dalian iron ore -2.7% to 510 yuan
Steam coal -0.3% to $US100.00, Met coal +0.5% to $US207.00
LME aluminium -0.6% to $US2098 a tonne
LME copper -0.7% to $US6498 per tonne
10-year bond yield: US 2.18%, Germany 0.41%, Australia 2.72%
What happened overnight