ASX today – It’s not looking great for the bulls Monday, with futures at a 70-point dump Down Under for open. That impending -0.8% retreat comes from two major directions: First, our Reserve Bank is going to hike rates tomorrow – and by at least 25bp – and then markets were troubled by Trump’s Fed chair pick.
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The first is still not locked in, but it’s looking pretty likely (and JD and I are never wrong in our HotCopper Wire predictions), and the second is definitely confirmed – and that was enough to send Wall Street dipping.
Only Europe is green today, with the FTSE up +1% and the Stoxx +0.7% stronger. Over in the U.S., every major index lost at least -0.4% on Friday.
Whether things stay so crimson red through the week remains to be seen, but today (and likely tomorrow) look to be heading down, down.
ASX stocks to watch
Now, looking back home, the ASX’s February reporting starts this week. Credit Corp (ASX:CCP) will be getting us going Tuesday, while Amcor (ASX:AMC) and Centuria’s Office REIT (ASX:COF) are due Wednesday.
Things get a little busier later in Week 6 with Beach Energy (ASX:BPT), Charter Hall (ASX:CHC), Newscorp (ASX:NWS), and REA Group (ASX:REA).
Elsewhere, Red Mountain Mining (ASX:RMX) has started major exploration maneuvers at Oaky Creek, hunting high-grade antimony. The New England Oregon project has previously seen results up to 39.3% antimony.
Santana Resources (ASX:SMI) should soon be off to the races, too, after Central Otago’s council gave the explorer road access at Bendigo-Ophir Gold Project.
And, finally, Electro Optic (ASX:EOS) has denied media reports its planning to move its headquarters from Australia over to Europe.
Buck and ore
Now – in forex, the Aussie dollar is buying US 69.5c.
Looking at commodities, all in the greenback,
Iron Ore is down nearly -1%, to sell at $103.85 a tonne in Singapore today,
Brent Crude‘s down -0.4%, to $69.32/Bbl,
Gold dumped heavily, to $4,994/ounce,
US natgas futures are up over +11%, to $4.35 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – happy trading.
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