ASX 200 to fall at open; Origin, Treasury Wine’s results awaited

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  • Australian shares are expected to slip in the opening trade on Thursday.

  • As per the latest ASX Futures, the ASX 200 is set to open 15 points or 0.2% lower.

  • The Dow Jones declined 0.5%, the S&P 500 dipped 0.7%, and the NASDAQ ended 1.25% lower.

Australian shares are expected to slip in the opening trade on Thursday following a dismal closing on Wall Street in the overnight trade. According to the minutes from the US Federal Reserve’s July meeting, the interest rates would continue to be raised until inflation sees significant easing.

Meanwhile, the domestic investors would be awaiting the July labour force data, which is scheduled to be released at 11.30 AM (AEST) today. On the other hand, ASX, Auckland Airport, Blackmores, Evolution Mining, Origin, Orora, Treasury Wine and Transurban are a few firms expected to report their financial results today.

The ASX 200 is set to open 15 points or 0.2% lower. On Wednesday, the benchmark index closed 0.3% higher at 7,127.7 points.

Global equities

On Wall Street, the S&P 500 dipped 0.7%, the Dow Jones declined 0.5%, and the NASDAQ ended 1.25% lower.

In Europe, the CAC dipped 1%, the Stoxx 50 fell 1.3%, the FTSE slipped 0.3%, and the DAX ended 2% lower.

Bond yields

US Treasury yields gained on Wednesday. The yield on benchmark 10-year notes rose to 2.9041%. The yield on two-year note surged to 3.35%.

Meanwhile, the US dollar index declined to 106.39 after Fed meeting minutes were released. However, it later rebounded to 106.55, up 0.09%.

Oil prices rise

Oil prices rebounded from a six-month low on Wednesday amid a fall in the US stockpiles compared to rising output and exports from Russia.

  • WTI crude surged 0.25% to US$86.31 per barrel.

Gold prices fall

Gold prices declined following the release of Fed’s minutes from July meeting.

  • Spot gold dipped 0.8% to US$1,761.82 an ounce.
  • US gold futures fell 0.20% to US$1,769.70 an ounce.

Iron ore dips

Dalian and Singapore iron ore futures fell on Wednesday, as electricity rationing in parts of China resulted in shutdowns of steel mills.

Iron ore's most-traded January 2023 contract on China's Dalian Commodity Exchange fell as much as 4.4% to 683.50 yuan (US$100.87) a tonne.



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