Australian (ASX) Stock Market Forum

Tomorrow's trading on the ASX?

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The ASX is expected to open weaker this morning with ASX200 futures down -47 points or -0.60% to 7,811. The index rose 1.07% on Friday, taking a weekly gain to 1.93% to a new record high. The gains follow comments from Fed Chair Jerome Powell last week suggesting policymakers were beginning to view price pressures as subdued. This week will be relatively light in terms of key economic data, with Chinese New Yuan Loans for February in focus on Tuesday followed by Australian consumer inflation expectations for March.

Oil prices finished lower on Friday with both WTI and Brent crude -1.17% and -1.06% to US$78.01 and US$82.08 a barrel respectively. Iron ore futures finished -0.81% on Friday to US$114.25 and copper was also -0.88% lower. Gold extended a run of gains to a new record high, up 0.88% to US$2,178.95 an oz, silver however was little changed at US$24.31, and Bitcoin rose 1.58% to US$68,398.
 
Bailxtrader said:
The ASX is expected to open weaker this morning with ASX200 futures down -47 points or -0.60% to 7,811. The index rose 1.07% on Friday, taking a weekly gain to 1.93% to a new record high. The gains follow comments from Fed Chair Jerome Powell last week suggesting policymakers were beginning to view price pressures as subdued. This week will be relatively light in terms of key economic data, with Chinese New Yuan Loans for February in focus on Tuesday followed by Australian consumer inflation expectations for March.

Oil prices finished lower on Friday with both WTI and Brent crude -1.17% and -1.06% to US$78.01 and US$82.08 a barrel respectively. Iron ore futures finished -0.81% on Friday to US$114.25 and copper was also -0.88% lower. Gold extended a run of gains to a new record high, up 0.88% to US$2,178.95 an oz, silver however was little changed at US$24.31, and Bitcoin rose 1.58% to US$68,398.
Click to expand...
Is it an understatement to say it was quite a bloody Monday.

Golf helped me to stay positive but yeap shares went down down down.
What about tomorrow? Tonite Wall Street session might help us to. See clearer
 
now allegedly the US Fed is closing the special lending facility it created to 'buffer' the smaller/mid-size banks tonight

but will they , i half expect another special funding facility to be created , but i have a plan in case they don't
 
The Australian market failed to track Wall Street higher with much enthusiasm overnight, looking at ASX 200 futures. But that doesn’t mean it cannot try and catch up today. A doji formed at the bullish trendline and above the February high, and the current day’s low is above the doji low. Furthermore, the 7900 target from the inverted head and shoulders pattern remain in play. The bias remains bullish above the 7600, although 7660 could also be used as a cutoff point for tighter risk management.


20240313asx200.png
 
US equities were mixed on Wednesday, with little economic data to guide investors with the current rally looking stretched.

The ASX is expected to open higher this morning despite the softer lead from Wall Street, with ASX200 futures up 10 points or 0.14% to 7,748. The index rose 0.22% on Wednesday driven by gains in financials 0.85% and consumer discretionary 1.3% which offset a -0.75% fall in materials. Lithium miner Liontown Resources was one of the top performing stocks up 6.1% after announcing it had secured a $550m facility to fund the development of its Kathleen Valley project. Meanwhile, Core Lithium fell -9.1% after announcing the closure of its Finniss Project due to weaker lithium prices.

Commodities
Oil prices rose overnight with both WTI and Brent crude up 2.89% and 2.71% respectively. The moves follow an unexpected draw in US crude oil inventories of -1.536m barrels for the week ending March 8th, this compares to forecasts of a 1.338m increase. Also supporting higher oil prices was a decrease of -5.662m barrels off gasoline vs -1.9m forecast. Iron ore futures slipped -3.41% on Wednesday although are 0.57% higher this morning at 106.15 while copper advanced 3.29%. Gold is 0.69% higher at US$2,173 modestly below its record high, silver climbed 3.35% to US$24.95 along with Bitcoin 2.72%.
 
farmerge said:
Seems as if the iron ore sector's level playing field is somewhat slanted downwards, me thinks.
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yes but of the base metals , which miners still extract at a profit ( in the majority ) copper-miners tend to struggle , nickel miners are mothballing ( or considering so )
 

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