From David Scutt, Treasury Dealer at Arab Bank, here’s a quick run-through of what the Australian market will be talking about this morning, including Crown earnings and Chinese foreign investment.
– Crown, IOOF Holdings, Lend Lease and Mirvac headline the domestic earnings calendar today.
– The ASX 200 looks set to take back all of yesterday’s losses this morning, and then some, with SPI futures pointing to a rise of 43pts on the open. While the index will start off strong, with the rally overnight more due to positioning rather than an ebbing of tapering concerns, it wouldn’t surprise to see some early gains taken back as we head towards the close.
– A non-eventful session for the AUDUSD overnight with the pair trading in a relatively-thin range between .8980 and .9040. With push and pull factors tugging at the pair at present, we expect more of the same in Asia with traders likely to test both topside and downside levels before the day is out.
– Chinese foreign direct investment for July will be released at Midday AEST. Economic data releases this evening include second-round Q2 GDP figures from the UK and Germany, US new home sales, Eurozone consumer confidence, Canadian CPI along with industrial output figures from Taiwan.
– On the policy front, the Jackson Hole economic symposium continues in Wyoming.
David Scutt is on Twitter.
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