Yes, the end of the week is finally here and boy, hasn’t been a busy one….
Good Morning,
Happy Friday!
Yes, the end of the week is finally here and boy, hasn’t been a busy one….
Next week we will release our Top 5 picks in the AUS reporting season, so make sure to keep a look out for this.
We’ve also had a good week with SW1, PAR, LPI and CM8 coming out with strong underlying FY results and building some great momentum… more to come….
Finally, we are working hard in the background to find you the next Peak Opportunity and meeting lots of management across various sectors, so make sure to stay tuned….
So what can we expect today?
1. ASX is set to open 9 points lower as the US Federal Reserve meet in Jackson Hole, the market is holding its breath to see what they decide about longer-term monetary policy.
2. Currencies: Aussie dollar rallies 0.5% to US$0.7551. It is fetching 77.98 Japanese yen, 67.45 Euro cents and 56.91 British pence. DXY US dollar index falls 0.4%
3. Equities: S&P 500 closes flat, but with heavy selling in financials and energy. On Wall St, Dow flat, S&P 500 -0.2%, Nasdaq +0.2% In Europe, Stoxx 50 -0.2%, FTSE -0.5%, CAC flat, DAX -0.6%
4. Energy: WTI loses 2.7% overnight
5. US: ISM PMI misses market expectations at 49.4
6. UK: GBP/USD surges 1% off better than expected UK PMI
7. Commodities: Spot gold +0.4% to $US1313.91 an ounce
8. Overseas data: UK Markit construction PMI August; US Non farm payrolls August, trade balance July, durable goods orders July final, factory orders July
The SPI is down 9 points this morning
Niv Dagan is an Executive Director of Melbourne based boutique funds management and corporate advisory firm, Peak Asset Management (www.peakassetmanagement.com.au). He is also a regular financial commentator on Sky Business
