Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a slide of around 20 points on the open, despite US grinding out a modest win overnight.
Commodities were mixed; gold added 0.3%, WTI crude added 0.2%, and iron ore slipped 0.7%.
What’s on today:
Local data: NAB business survey October, business conditions, business confidence
Overseas data: China retail sales October, industrial production October; German CPI October, German ZEW expectations November; Euro zone industrial production September, Euro zone ZEW expectations November, Euro zone third quarter GDP; UK October CPI; US NFIB small business optimism October, PPI final demand October
ECB conference in Frankfurt: policy panel with Fed’s Janet Yellen, ECB’s Mario Draghi, BoJ’s Haruhiko Kuroda and BoE’s Mark Carney
SPI futures down 22 points (-0.4%) to 6012
AUD -0.5% to 76.23 US cents
On Wall St: Dow +0.1%, S&P +0.1%, Nasdaq +0.2%
In New York, BHP -0.2% Rio -0.4%
In Europe: Stoxx 50 -0.5%, FTSE -0.2%, CAC -0.7%, DAX -0.4%
Spot gold +0.3% to $US1279.13 an ounce
Brent crude -0.5% to $US63.22 a barrel
US oil +0.2% to $US56.84 a barrel
Iron ore -41 US cents or 0.7% to $US62.19 a tonne
Dalian iron ore +0.8% to 464 yuan
Steam coal +0.2% to $US97.80, Met coal +0.9% to $US187.50
LME aluminium +0.3% to $US2108 a tonne
LME copper +1.6% to $US6895 a tonne
10-year bond yield: US 2.40%, Germany 0.41%, Australia 2.62%
What happened overnight: