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Tomorrow's trading on the ASX?

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The ASX is expected to open modestly lower this morning with ASX200 futures down -14 points or -0.18% to 7,825. The index climbed 1.12% on Thursday driven by broad gains, with financials 1.74%. The Australian dollar initially rallied before reversing to close -0.24% lower after the February employment report was significantly higher than expected. Over the month, 116.5k jobs were added, well above the 40k forecast which saw the unemployment rate drop to 3.7% from 4.1% previously.

Oil prices finished modestly lower overnight with both WTI and Brent crude -0.44% and -0.38% lower respectively. Iron ore futures jumped 3.84% on Thursday, although have given up -1.03% of those gains this morning to trade at US$108.65 with copper 0.33% higher. Gold was modestly weaker by -0.23% to US$2,181 with silver slipping -3.29% to US$24.74 along with Bitcoin -2.37%.
 
getting in early ..

There will be $19bn in dividend payouts this week as profits from the recent reporting season are paid.

With Easter holiday on Friday, the biggest payouts are on Thursday as corporate giants BHP Group, Telstra, Commonwealth Bank all distribute their dividends on the same day. WES, FMG and COL pay on Wednesday.
 
The ASX is expected to edge up this morning with ASX200 futures finishing 7 points or 0.09% to 7,829. Ahead this week, Tuesday will see the latest consumer confidence for March followed by the latest economic leading index for February on Wednesday. The highlight on Wednesday will be the latest monthly inflation estimate for February, expected to show a 3.6% rise over the 12 months. Thursday will see the latest round of housing credit data for February and consumer inflation expectations for March.

Oil prices finished lower on Friday with both WTI and Brent -0.54% and -0.41% lower respectively. Iron ore futures in Singapore were -1.49% lower on Friday and are little changed at US$108.25 this morning, copper also finished -1.25% lower on Friday. Gold was also -0.73% lower at US$2,165 an oz, along with silver -0.28% and Bitcoin -2.99%.

Economic Calendar
 
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US equities were little changed on Tuesday as investors await GDP and inflation data later this week.

The ASX is expected to open slightly lower this morning with ASX200 futures down -19 points or -0.24% to 7,819. The index finished -0.41% lower on Tuesday with the majority of sectors weaker and 59% of stocks lower. Premier Investments rose 4.4% after announcing better-than-expected half-year sales and proceeding with a demerger of stationery chain Smiggle. Elsewhere, shares in biopharmaceutical company Mesoblast surged 45.5% after the US FDA deemed recent trial data as being sufficient to allow for a re-submission of a previously rejected licence application.

In focus today is the latest monthly inflation estimate for February with forecasts of a 3.5% increase over the 12 months following a 3.4% increase to January. Ahead of the release, analysts at TD Securities note “Rents have been sticky but lower tradeables prices have proven to be a powerful disinflationary force”. Meanwhile, Westpac is forecasting a higher reading of inflation, expecting a 3.8% increase over the year. Ahead of the release, the Australian Dollar is modestly lower by -0.14% to 0.6531.​

 

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