Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a circa 10-point pop on the open this morning, after US markets ground higher overnight.
Wall St reset its record highs as the US central bank began a two-day policy meeting, whilst the Volatility Index pushed below 10.
What’s on today:
Local data: Westpac leading index August, Skilled vacancies August, RBA assistant governor Luci Ellis speaks; New Zealand current account second quarter, Perf services index August
Overseas data: Japan trade balance August; US Existing home sales August, Fed policy statement at 4am AEST, Janet Yellen speaks at 4.30am AEST
SPI futures up 10 points (+0.2%) to 5727
AUD +0.7% to 80.17 US cents
On Wall St: Dow +0.2%, S&P 500 +0.1%, Nasdaq +0.1%
In New York, BHP -0.1% Rio +0.4%
In Europe: Stoxx 50 +0.1%, FTSE +0.3%, CAC +0.2%, DAX flat
Spot gold +0.1% to $US1309.33 an ounce
Brent crude -0.5% to $US55.18 a barrel
US oil -0.6% to $US49.63 a barrel
Iron ore -4.1% to $US68.85 a tonne [Monday’s close: $US71.76]
Dalian iron ore -1.8% to 498 yuan
Steam coal -0.1% to $98.20, Met coal -0.2% to $206.00
LME aluminium +1.7% to $US2124 a tonne
LME copper +0.1% to $US6539 a tonne
10-year bond yield: US 2.24%, Germany 0.45%, Australia 2.81%
What happened overnight: