Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
Synthetic SPI futures are pointing to a 10-15 point fall on the open this morning, despite US markets closing higher on Friday night.
The events surrounding North Korea over the weekend have put a dampener on what was a solid US session on Friday night.
What’s on today:
Local data: MI inflation index August, Business indicators second quarter, ANZ job ads August
On Tuesday, AiG Perf Services Aug prev 56.4 (9:30am), Current Account Q2 exp -$7.2bn prev -$3.1bn (11:30am), RBA Board Meeting exp 1.50% prev 1.50% (2:30pm), RBA governor Lowe remarks (7:10pm); on Wednesday, GDP Q2 (11:30am); RBA head of economic analysis Heath speech (12:30pm); On Thursday, AiG Perf of Construction Index Aug prev 60.5 (9:30am), Retail Sales Jul exp 0.3% prev 0.3% (11:30am), Trade Jul exp $0.8n prev $0.9bn (11:30am), WA State Government Budget; and on Friday, Housing Finance Jul (11:30am), RBA dep. gov. Debelle on panel (12:30pm) and RBA governor Lowe speech (6:30pm).
Overseas data: Euro zone producer prices July; UK Markit/CIPS construction August
SPI futures down 12 points, at 5688
AUD +0.3% to 79.67 US cents
On Wall St, Dow +0.2%, S&P 500 +0.2%, Nasdaq +0.1%
In New York, BHP +1.5%, Rio +0.9%
Wall St closed on Monday for Labor Day holiday
In Europe, Stoxx 50 +0.7%, FTSE +0.1%, CAC +0.7%, DAX +0.7%
Spot gold +0.3% to $US1325.23 an ounce
Brent crude -0.2% to $US52.76 a barrel
US oil +0.3% to $US47.35 a barrel
Dalian iron ore +2.4% to 592 yuan
LME aluminium +0.9% to $US2136 a tonne
LME copper +0.7% to $US6835 a tonne
10-year bond yield: US 2.17%, Germany 0.37%, Australia 2.66%
What happened overnight: