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Australian traders are coming out of the weekend on a cautious note following a record-cracking last few days for the local bourse, with ASX 200 futures pointing to a -0.51% decline spurred on by +2.1% gains across Week 29.
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The ASX had a five-day trading run to remember, bowling over ATHs on Tuesday and Friday – though Trump’s push for more EU tariffs slowed things a little.
Perhaps more important is the fact that the Reserve Bank is sharing minutes from its July rates moot early tomorrow; that’s expected to give traders a clue about its August call. Markets are pricing in a cut already.
Bullock has a Thursday speech in the calendar, too; it will be a similar market mover.
In company news, the New World Resources (ASX:NWC) board has urged shareholders to accept an increased approach from Kinterra Capital. The new deal would see Kinterra acquire all NWC shares for 6.6c each.
And, Warriedar Resources (ASX:WA8) has caught early attention on the HotCopper forums after uncovering wider, high-grade gold intervals at Ricciardo.
Woodside Energy (ASX:WDS), Fortescue Ltd (ASX:FMG), and Whitehaven Coal (ASX:WTC) will all be sharing quarterly earnings through Week 30.
We’ll be getting earnings from South32 (ASX:S32) and AMP Ltd (ASX:AMP) today.
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Looking at forex, the Aussie dollar buys 65 US cents.
To commodities, which are in the greenback,
Iron Ore has held in the 100s, selling at $100.90 a tonne in Singapore,
Brent Crude is at $69.44,
Gold is at $3,351 per ounce, and,
US natgas futures are at $3.40 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck and happy trading.
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