6 things Australian traders will be talking about this morning

(Scott Barbour / Getty Images)

Good morning.

To the scoreboard:

  • Dow: 26,492.21 -69.84 (-0.26%)
  • S&P 500: 2,915.56 -3.81 (-0.13%)
  • AUD/USD: 0.7248 -0.0002 (-0.03%)
  • ASX200 SPI futures (December contracts): 6,186 (+6)

1. US stocks were mixed overnight as the Federal Reserve kicked off its two-day policy meeting. Ahead of tonight’s all-important rates announcement (4am AEST), US 10-year bond yields edged up to 3.098%, just shy of the May peak of 3.126%.

2. Oil prices pared gains but held close to four-year highs. President Trump called on OPEC and Russia once again to increase oil output as the world braces for US sanctions on Iranian barrels.

3. Currency markets were largely quiet ahead of the Fed, although the Argentine peso slumped by 5% after the head of Argentina’s central bank unexpectedly resigned.

4. In an address before the UN General Assembly, President Donald Trump doubled down on protectionist rhetoric and went after China on trade, while claiming that his administration has accomplished more than any other in US history.

5. In company news, Nike stock tanked after the bell as gross margins missed forecasts, while Manchester United revenues fell 20%. Facebook edged lower following the resignation of Instagram’s co-founders. And Spanish bank Santander has poached UBS’ global investment banking chief.

6. And cryptos’ latest mini-rally ran out of steam, with Bitcoin down 3% to around $US6,400 after pushing towards $US7,000 earlier this week. Falls among major alt-coins were led by the EOS and Ripple, which had previously ripped higher over the weekend.

Here a look at today’s economic calendar:

  • It’s all about the Fed, which is expected to hike rates by 25 basis points. All eyes will be on the accompanying statement.

Have a great day.

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