Good morning and welcome to midweek. The ASX200 is set to rise +0.27% per futures around 8.30am Sydney time.
While we aren’t set to rematch the 8,300 points level where it looked like we had found a stable floor, a green day for the local bourse would be interesting. That would mean we shrug off a red night for Wall Street.
Comments from US Fed officials and moves in US bonds have led many to now scaling back confidence in a bullish central bank cutting rates at pace in the world’s largest economy.
That general atmosphere saw Tuesday reflect a fairly boring day for the local share market, with profit takers defining yesterday’s session.
Looking at the ASX: yet further rumours have dropped regarding Wisetech founder Richard White; ASIC is reportedly investigating both QBE and MinRes; and Tabcorp has its AGM.
In forex, the Aussie buying 67 US cents, as it has for a while now.
Looking at commodities which are in the greenback,
Iron Ore hovers just over $100/tn in Singapore as the world continues to make sense of China’s property sector,
Gold is still on a tear at $2,748 per ounce,
Brent Crude is fetching $75 per barrel as the Middle East continues to weigh, and,
US natgas $2.30 a gigajoule.
That’s Market Open, I’m Jonathon Davidson, stick with us for HotCopper’s market update.