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ASX200 – U.S Inflation and Weekend Omicron News to Set the Tone
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It's a quiet start to the week, with no majors stats to provide direction to the ASX200. The lack of stats will allow the markets to respond to U.S inflation figures from Friday as the markets look ahead to the FED policy decision and projections.
Economic Calendar
Tuesday, 14th December
NAB Business Confidence (Nov)
Wednesday, 15th December
Westpac Consumer Sentiment (Dec)
Thursday, 16th December
Employment Change (Nov)
Full Employment Change (Nov)
Unemployment Rate (Nov)
The ASX200
It was a bearish end to the week, with the ASX200 falling for a 2nd consecutive day on Friday. Following a 0.28% decline on Thursday, the ASX200 fell by 0.43% to end the day at 7,354.
There were no major stats from the Australian session to provide direction through the day. The lack of stats left the markets to look ahead to U.S inflation figures due out late in the day.
With the U.S inflation figures considered key to next week’s FOMC projections, the Big-4 and commodity stocks had a mixed session.
The Stats
There were no major stats from Australia to provide direction.
The Market Movers
It was a mixed day for the banks. Westpac fell by 0.81%, with ANZ down by 0.51%. CBA (-0.27%) and NAB (-0.21%) also saw red. Macquarie Group bucked the trend, however, rising by 0.02%.
Commodity stocks also had a mixed session. Newcrest Mining slid by 1.74%, with Fortescue Metals Group Ltd and BHP Group seeing losses of 0.82% and 0.60% respectively. Rio Tinto avoided the red, however, rising by 0.03%
Other Asian Markets
Elsewhere, it was also a bearish session. The Nikkei225 and the Hang Seng Index fell by 1.07% and by 1.00% respectively, with the CSI300 ending the day down by 0.46%.
The Day Ahead
It’s another particularly quiet day ahead on the Aussie economic calendar. There are no material stats from Australia to provide direction through the session.
The lack of stats will leave the markets to respond to the U.S inflation figures from Friday and Omicron news updates.
Friday’s gains across the U.S markets should deliver early support, with the rate of acceleration of U.S core inflation having eased in November.
The Futures
In the futures markets, at the time of writing, the ASX200 was up by 13 points.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Bob Masonauthor
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.
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