6 things Australian traders will be talking about this morning

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Good morning.

To the scoreboard:

  • Dow: 25,998.92 +27.86 (+0.11%)
  • S&P500: 2,888.92 +1.03 (+0.04%)
  • AUD/USD: 0.7168 +0.0043 (+0.60%)
  • ASX SPI futures (September contracts): 6,162 (-17)

1. The S&P500 edged higher overnight, amid reports the US has reached out to China for more high-level trade talks before enforcing tariffs on another $US200 billion of Chinese goods. But ASX futures are pointing lower again, with 13 companies set to go ex-dividend today.

2. Reduced trade tensions, along with a big miss in US PPI data, put pressure on the USD. The greenback lost ground across the board and gains were led by the commodity bloc currencies, with the AUD one of the best performers ahead of today’s employment data.

3. It’s jobs day: The ABS will release August jobs figures at 11:30am AEST. After a surprise fall in July, the median forecast is for another 18,000 jobs to be added, with unemployment to hold steady at 5.3%. David Scutt’s 10-second guide has everything you need to know.

4. The AUD was also helped overnight by a strong session for commodities, as brent crude briefly topped $US80 a barrel after a bigger than expected draw in US crude. And the reports on trade helped drive demand for base metals. Copper rose by more than 2% with similar gains for zinc and nickel.

5. Higher oil prices gave a boost for US energy stocks, which offset falls in the tech sector. Apple fell by 1.24% after its big product launch, including new iPhones and an Apple watch. Business Insider’s full coverage of the event can be found here.

6. In cryptos, Bitcoin steadied at around $US6,300 overnight while Ethereum is still under pressure below $US200. And in rates, the Fed’s Lael Brainard said the US central bank still has room to raise official cash rates towards 3%. US bond yields edged lower with benchmark 10-years closing at 2.96%.

It’s a big 24 hours ahead for traders. Here are the key events on the data calendar:

  • August employment data in Australia (11:30am AEST).
  • Both the Bank of England and the European Central Bank hold monetary policy meetings tonight.
  • The central banks of Russia and Turkey will also make policy announcements.
  • Key CPI inflation data for August in the US.
  • Inflation data is also out in Germany and France.

Have a great day.

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