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ASX today − Friday is looking like a mixed bag, with the Aussie dollar flirting with a march back towards 70c (to the USD) − a level we haven’t really seen since CY21 − while our equities are heading for a very flat open, +0.5pts.
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Wall Street has been enjoying an AI-themed rally overnight, but without many similar companies on the ASX, it’s barely made it to our shores.
What has made it is the “dovish” sentiment around possible cash rate changes; analysts are now suggesting the Federal Reserve may actually keep powder dry at its first CY26 meeting on “lower expected volatility.”
It’s that U.S. vibe that’s keeping our Aussie buck trending up, for now.
That may change once our own rate calls hit the headlines again (this Market Link journo’s now expecting a hike come February), but we’ll see.
Let’s take a look at some Oz company news.
ASX stocks to watch
Rio Tinto (ASX:RIO) and BHP (ASX:BHP) are considering a multibillion-dollar team-up in the Pilbara. The Aussie mining giants are eager to explore inaccessible iron deposits on the boundary of their respective tenements.
Also in mining, Black Bear’s (ASX:BKB) first drilling at Rebel Peak returned “thick” gold-silver mineralisation beyond the Nevada’s project’s estimate.
Elsewhere, SRJ Technologies (ASX:SRJ) has popped on the HotCopper forums after securing a contract for asset integrity services for CAPSA Engineering and Contracting, a Middle Eastern national oil company.
And, Myer (ASX:MYR) has shuttered women’s fashion label Sass & Bide.
Buck and ore
Now – in forex, our dollar’s buying 66.9 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore softened -0.7%, to $107.20 a tonne in Singapore,
Brent Crude is down another -4%, to $63.75/Bbl,
Gold is at $4,626 an ounce, and,
US natgas futures have clawed back +0.5%, to $3.13 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.
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