Good morning team, Chris Conway your Head of Research here with your First Look.
The Aussie market will play catch-up on the open this morning, factoring in the last two global sessions after being closed yesterday for the Australia Day holiday.
Whilst US markets stalled overnight and this morning the SPI futures are pointing to a six point fall, to 5647, when we left you on Wednesday afternoon the index was trading around 5615.
So, factoring in the previous international session, as well as last night, we will actually have a positive move overall.
Local data: Producer price index fourth quarter, Trade price indices third quarter
Next week for Australia: NAB business survey, AiG performance of manufacturing, CoreLogic house prices, Trade balance, Building approvals, AiG performance of services
Overseas data: China New Year’s Eve, Chinese markets will be closed next week for Lunar New Year holidays; Japan CPI December; US fourth quarter GDP, Durable goods December, University of Michigan consumer sentiment January
- SPI down 7 points at 5647
- AUD at US75.46¢
- Dow Jones +0.1%; S&P500 -0.1%; Nasdaq -0.1%
- FTSE100 flat, CAC -0.2%, DAX +0.4%
- Spot gold -0.9% at $US1190.20 an ounce
- Brent oil +1.9% at $US56.14 a barrel
- Iron ore +1.0% at $US83.34 a tonne