Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a 25 point pop on the open this morning, after European and US markets rallied overnight.
Key to the ASX’s prospects today will be the next round of corporate reports: ANZ, CGF, CQR, FXL, GMA and GPT.
What’s on today:
Local data: ABS new motor vehicle sales July, RBA August board meeting minutes
Overseas data: Japan June industrial production; UK July CPI, July PPI; US NY empire manufacturing August, Retail sales July, NAHB housing market August
SPI futures up 25 points (+0.4%) to 5698
AUD -0.5% to 78.52 US cents
On Wall St, Dow +0.6%, S&P 500 +1%, Nasdaq +1.3%
In New York, BHP +0.3% Rio +0.3%
In Europe, Stoxx 50 +1.3%, FTSE +0.6%, CAC +1.2%, DAX +1.3%
Spot gold -0.7% to $US1280.87 an ounce
Brent crude -2.1% to $US51.03 a barrel
US oil -2% to $US47.87 a barrel
Iron ore to -0.6% to $US74.71 a tonne
Dalian iron ore -2.6% to 521 yuan
Steam coal -0.4% to $US95.45, Met coal -0.5% to $US193.50
LME aluminium -0.9% to $US2023 a tonne
LME copper -0.2% to $US6397 a tonne
10-year bond yield: US 2.22%, Germany 0.40%, Australia 2.61%
What happened overnight: