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ASX200: Futures Point South with the RBA Meeting Minutes in Focus this Morning
By:
In the early hours, the S&P/ASX200 futures was in the red following the U.S majors. The RBA meeting minutes and central bank chatter will draw attention later, however.
Wednesday, 17th November
Wage Price Index (QoQ) (Q3)
The ASX200
After avoiding 5-consecutive days in the red last week, the ASX200 rose by 0.36% to end the day at 7,470.11 on Monday. On Friday, the index had climbed by 0.83%.
While there were no major stats from Australia to provide direction, economic data from China delivered support.
In October, industrial production rose by 3.5%, year-on-year, which was up from 3.1% in September. Economists had forecast a 3.0% increase.
Retail sales figures were also upbeat, with sales rising by 4.9% year-on-year versus a forecasted 3.6%. In September, retail sales had increased by 4.4%.
The Stats
There were no major stats for the markets to consider on the day.
The Market Movers
It was a mixed day for the banks. Macquarie Group led the way, rising by 0.94%, with ANZ and Westpac gaining 0.74 and 0.62% respectively. NAB and CBA ended the day down by 1.57% and by 0.10% respectively, however.
Commodity stocks also had a mixed session. Rio Tinto and BHP Group ended the day with losses of 0.40% and 0.64% respectively. Fortescue Metals Group Ltd rose by 1.21, however, to lead the way, with Newcrest Mining gaining 0.67%.
Other Asian Markets
Elsewhere, it was a mixed session. The Nikkei 225 and the Hang Seng rose 0.56 and by 0.25% respectively, while the CSI300 ended the day down 0.12%.
The Day Ahead
It’s a particularly quiet day ahead on the Aussie economic calendar. There are no material stats due out of Australia to provide direction.
While there are no material stats to consider, the RBA meeting minutes will provide direction this morning. RBA Governor Lowe is also scheduled to speak, with any comments on the economy or policy to influence.
The Futures
In the futures markets, at the time of writing, the ASX200 was down by 29 points.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Bob Masonauthor
With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.
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