AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
ASX 200 is expected to fall on the first day of the trading week.
ASX 200 is likely to open 29 points or 0.4% lower on Monday.
On Wall Street, the Dow Jones fell 0.85%, the S&P 500 dipped 1.3%, and the NASDAQ fell 2%.
ASX 200 is expected to fall on the first day of the trading week following losses over the weekend on Wall Street, while investors await a speech by the US Federal Reserve chairman Jerome Powell at the annual global central banking conference in Jackson Hole, Wyoming, on 26 August 2022. On the other hand, muted underlying prices may weigh on local commodity shares.
ASX 200 is likely to open 29 points or 0.4% lower on Monday morning, as per the latest ASX Futures. The benchmark index closed 1.7 points higher at 7,114.5 points on Friday.
Corporate reports expected on Monday: Adairs, Ampol, Austal, Chorus, Michael Hill, NIB Holdings, Nick Scali Retail, oOh!media, Reliance Worldwide, Sonic Healthcare, and The Star Group are a few ASX-listed firms scheduled to announce their financial results on Monday.
On Wall Street, the Dow Jones fell 0.85%, the S&P 500 dipped 1.3%, and the NASDAQ fell 2%. In Europe, the Stoxx 50 fell 1.3%, the FTSE gained 0.1%, the CAC dipped 0.9%, and the DAX dropped 1.1% lower. The MSCI world equity index was down 1.3%.
Bond yields
On Friday, the US benchmark 10-year Treasury yields surged to a month high of 2.9776%, as investors were worried about Fed’s plan to tighten monetary conditions.
The US dollar index surged on Friday around 0.5%, a one-month high. The euro was down 0.44% at US$1.003.
Oil prices rise
Oil prices rose on Friday but fell for the week on strengthening US dollar and concerns that slowdown would hit demand.
- Brent crude futures finished at US$96.72 a barrel, gaining 13 cents.
- WTI crude closed 27 cents higher at US$90.77.
Gold prices fall
Gold prices fell on Friday on stronger dollar and expectations of further US interest rate hikes.
- US gold futures finished 0.5% lower at US$1,762.9.
Similarly, the most-traded January iron ore contract on China's Dalian Commodity Exchange finished 2% lower at 673.50 yuan (US$98.93) a tonne, after earlier hitting its lowest since 27 July at 672 yuan.
Meanwhile, cryptocurrencies declined sharply, with sudden selling dragging bitcoin to a three-week low.
