The Aussie market is poised to open higher later this morning following gains on global markets on Friday night, which followed the BoJ’s unprecedented move to shift to negative interest rates.
The SPI futures are up 48 points, 5,009.
In local economic news today, the Reserve Bank of Australia is due to release index of commodity prices for January.
Also due out are the Australian Industry Group’s performance of manufacturing (PMI) index, the RP Data Core Logic Home Value Index and the TD Securities-Melbourne Institute inflation gauge, all for January.
In equities space, the Australian Competition and Consumer Commission takes Woolworths to court alleging the supermarket demanded more than $60 million from its suppliers.
- SPI futures up 48pts to 5009
- AUD at 70.84 US cents, 85.90 Japanese yen, 65.44 Euro cents and 49.74 British pence
- On Wall St, Dow +2.5%, S&P 500 +2.5%, Nasdaq +2.4%
- In Europe, Stoxx 50 2.2%, FTSE -2.6%, CAC -1.3%, DAX 2.2%
- In London, BHP -0.5%, Rio -+0.8%
- Spot gold +0.3% to $US1118.17
- Brent crude +3.4% to $US35.99
- Iron ore last traded down 0.5% at $US41.72 a tonne
What’s on today:
The Australian Industry Group performance of manufacturing (PMI) index for January, RP Data Core Logic Home Value Index for January, TD Securities-Melbourne Institute inflation gauge for January, Reserve Bank of Australia (RBA) index of commodity prices for January, ACCC takes Woolworths to court: The ACCC is taking Woolworths to court after the supermarket allegedly demanded more than $60 million from its suppliers.
Iraq’s oil minister said on Saturday his country was ready to accept a decision by OPEC and non-OPEC members to cut crude production and was preparing to revive its national oil company, moves aimed at boosting profits amid dropping prices.
Cash-trapped Venezuela has called for a meeting in February to discuss steps to prop up global oil prices, which have plunged to 12-year lows around $30 a barrel.