Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


IG Markets - Morning thoughts and opening prices

Good morning,

Risk assets remained in a holding pattern throughout European and US trade, with no fresh catalysts to sway investors significantly in either direction. Market participants continued to monitor the wires for any headlines on Greece and this resulted in a mildly negative bias in European equities. US equities were mostly flat with no data prints on the calendar and a bank holiday seeing some markets closed. On the currency front, AUD/USD went on to test 1.044 after trading back above 1.04 in yesterday’s Asian session. The 1.044 capped the upside and continues to act as near-term resistance. EUR/USD remained sidelined just above 1.27 with Greece uncertainty continuing to keep the bulls at bay.

Ahead of the open, we are calling the Aussie market down 0.1% at 4442. On the local economic front, we have NAB business confidence data due out at 11.30am. However, this is unlikely to be a big sentiment driver. We have been getting a lot of commentary out of China recently, with the leadership change and a swathe of economic releases hitting the wires. China is likely to remain the centre of focus for the region, and any comments from there could be a big sentiment driver.

On a stock level, we expect to see a mildly softer start for BHP Billiton, with its ADR pointing to a 0.3% fall to $34.21. Reports in the AFR are suggesting BHP is considering shipping some of its US shale gas to Asia. This could have a big impact on regional LNG projects and will likely be a big talking point in today’s session. Base metals had a fairly positive session and this might give some of the miners a lift. Incitec Pivot has reported its full-year results today, which will put its shares in focus. QBE Insurance will be one to watch yet again as S&P revised its outlook on the insurer to negative from stable.

MarketPrice at 8:00am AESTChange Since Australian Market ClosePercentage Change
AUD/USD1.04280.0008 0.08%
ASX (cash)4442-6 -0.13%
US DOW (cash)12827-13 -0.10%
US S&P (cash)1381.3-1.0 -0.07%
UK FTSE (cash)577610 0.17%
German DAX (cash)71867 0.10%
Japan 225 (cash)8693-16 -0.19%
Rio Tinto Plc (London)30.81-0.18 -0.59%
BHP Billiton Plc (London)19.510.01 0.04%
BHP Billiton Ltd. ADR (US) (AUD)34.21-0.09 -0.27%
US Light Crude Oil (December)85.62-0.60 -0.70%
Gold (spot)1727.8-7.7 -0.44%
Aluminium (London)1971502.62%
Copper (London)7655590.78%
Nickel (London)16061290.18%
Zinc (London)2169261.21%
Iron Ore122.10.000.00%

IG Markets provides round-the-clock CFD trading on currencies, indices and commodities. The levels quoted in this email are the latest tradeable price for each market. The net change for each market is referenced from the corresponding tradeable level at yesterday’s close of the ASX. These levels are specifically tailored for the Australian trader and take into account the 24hr nature of global markets.

Please contact IG Markets if you require market commentary or the latest dealing price.

Market Strategist


© Scoop Media

Business Headlines | Sci-Tech Headlines


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Housing: English On Housing Affordability And The Economy

"Long lead times in the planning process tend to drive prices higher in the upswing of the housing cycle. And those lead times increase the risk that eight years later, when additional supply arrives, the demand shock that spurred the additional supply has reversed. The resulting excess supply could produce a price crash..." More>>


Sweet Health: Sugary Drinks Banned From Hospitals And Health Boards

All hospitals and DHBs are expected to kick sugary drinks out of their premises. University of Auckland researcher, Dr Gerhard Sundborn who also heads public health advocacy group “FIZZ”, says he welcomes the initiative. More>>


NASA: Evidence Of Liquid Water On Today's Mars

Using an imaging spectrometer on MRO, researchers detected signatures of hydrated minerals on slopes where mysterious streaks are seen on the Red Planet. These darkish streaks appear to ebb and flow over time. More>>


Bird Brains: Robins Can Just Be Generally Clever

Research from Victoria University of Wellington has revealed that birds may possess a ‘general intelligence’ similar to humans, with some individuals able to excel in multiple cognitive tests. More>>


Psa-V: Positive Result On Whangarei Kiwifruit Orchard

Kiwifruit Vine Health (KVH) has received a Psa-V positive test result on Hort16A and male vines on a kiwifruit orchard in Whangarei. This is the first confirmed case of Psa-V on an orchard in the Whangarei region. More>>

Regional Accents: Are Microbes The Key To Geographical Differences In Wine?

A new study of six of New Zealand’s major wine-growing regions has found that differences in flavour and aroma of wine from different areas may depend more on microbes than was previously thought. More>>


Science: AgResearch To Cut Science Staff In Areas Of 'Reduced Demand'

“We are therefore consulting with our staff from today on a proposal to reduce science staff in areas of shrinking demand. Combined with recruitment planned in areas of growing demand, this would mean a net reduction of 15 scientists and 41 technicians at AgResearch in the 2015/16 year." More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news