ASX Pre-Market Report 8/29/22
VSCheck out our daily ASX and AU pre-market macro outlook below!
Summary of content
1) APAC WEEK AHEAD
2) MARKET OVERVIEW AND HIGHLIGHTS
3) WORLD MARKETS SECURITIES
4) ASX ECONOMIC CALENDAR
5) IDEA OF THE DAY
6) ECONOMIC CALENDARS
1) APAC week ahead
2) Market Overview and Highlights (from 7 a.m. AEST)
AUS macro chart
Global Markets Commentary
- Jackson hole – US Federal Reserve Chairman Jerome Powell noted in a speech at the Jackson Hole central bank symposium: “Restoring price stability will likely require tight policy to continue for some time. “. And further: “The historical record strongly cautions against premature policy easing.”
- US economic data – Personal income rose 0.2% in July (survey: +0.6%) with spending up 0.1% (survey: +0.5%). The main measure of inflation – the core PCE deflator – rose 0.1% in July to 4.6% on the year (survey: +4.7%). The expected merchandise trade deficit fell from $98.59 billion to $89.06 billion in July (survey: $97 billion). The final index of consumer sentiment from the University of Michigan rose from 55.1 to 58.2 in August (survey: 55.2).
- US stock markets crashed on Friday as the Fed Chairman suggested interest rates would be higher for longer. All 11 sectors of the S&P 500 were down.
- European stock markets fell Friday. Investors digested the Fed Chairman’s speech and weak German consumer sentiment data.
- American treasures were lower on Friday (higher returns).
- Main currencies were mixed against the US dollar in European and US trading.
- World oil prices got up on Friday. Fears that the OPEC+ group could cut production offset hawkish comments from the Fed Chairman.
- Base metal prices were higher on Friday. During the week, spot gold fell US$13.10 or 0.7%. During the week, iron ore rose US$1.17 or 1.1%.
3) Global Markets Securities
Click the hyperlink for more stock news, check out our CMC Markets NextGen platform news panel or follow us on Twitter &
(All news and data sourced from AFR/The Australian/Bloomberg/Reuters/CNBC/Wall Street Journal/Morningstar)
4) ASX Economic Calendar
5) Idea of the day
(FMG – Fortescue Metals Group)
6) Macro-economic calendar
Economic Calendar (TODAY)
Economic Calendar (YEST)
Weekend – NA
Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not expressing opinions) is provided for informational purposes only and does not take into account your personal circumstances or objectives. Nothing in this document is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically restricted from processing prior to providing such material, we do not seek to take advantage of the material prior to its dissemination.