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Good morning and a happy end of the week. The ASX is tipped to decline a fifth of a percent per ASX futures around 8.30am Sydney time.
That follows a lacklustre night in Wall Street where the S&P500 and NASDAQ both ended flat.
A red Friday follows Thursday’s unemployment data down under, pointing to a resilient labour market.
Meanwhile, the European Central Bank (ECB) cut rates overnight by -25bps.
At the same time, the ASX hit a fresh record high yesterday, around 8,370pts.
At 1pm Sydney time today, we get China’s Q3 GDP growth data, as well as industrial production and retail sales for September.
Looking at forex, the Aussie is buying 67 US cents.
Looking at commodities, which are in the greenback,
Iron ore has eased to $100.30/tn in Singapore after China’s property conference on Thursday failed to excite,
Brent Crude is trading at $74.50,
Gold is trading at $2,692 per ounce, and,
US natgas futures $2.34 per gigajoule.
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