Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a modest decline this morning, after US markets pulled back on Friday night.
Commodities were stronger however – gold, oil and iron ore all up – which should provide some support today for the local market.
What’s on today:
Local data: RBA head of financial stability Jonathan Kearns speaks at midday, RBA head of domestic markets Marion Kohler speaks mid afternoon
Overseas data: Japan October trade; US leading index October
SPI futures down 4 points or 0.1% to 5959
AUD -0.3% to 75.64 US cents
On Wall St: Dow -0.4%, S&P 500 -0.3%, Nasdaq -0.2%
In New York, BHP unchanged Rio -0.1%
In Europe: Stoxx 50 -0.5%, FTSE -0.1%, CAC -0.3%, DAX -0.4%
Spot gold +1.1% to $US1292.42 an ounce
Brent crude +2.2% to $US62.72 a barrel
US oil +2.8% to $US56.67 a barrel
Iron ore +1.7% to $US62.61 a tonne
Dalian iron ore -0.9% to 460.5 yuan
LME aluminium flat at $US2103 a tonne
LME copper +0.6% to $US6777 a tonne
10-year bond yield: US 2.34%, Germany 0.36%; Australia 2.57%
What happened overnight: