Day Trading 24 Mar Pre Market

Morning all
Thanks AM crew

The ASX looks a bit wobbly this morning as markets fell overnight on weaker commodities and the US dollar as bets were revised on the possibility of interest rate rises.
SPI futures are off 34 points at 5098

US stocks declined in thin trading as commodity shares followed crude prices lower. Investors wait on further clues on the economy and direction of monetary policy.
Equities are losing momentum after a five-week rally erased the worst start to a year ever.
The benchmark index fell 0.6 per cent to 2036, below its break-even level for the year, after snapping a four-day climb on Tuesday. The Nasdaq Composite Index decreased 1.1 per cent, ending the lengthiest advance in 11 months. 1
The possibility of more than the two expected rate hikes through December has sent the dollar higher, pushing down commodity prices.
"That's basically what's leaning on the market today," said Peter Cardillo, Chief Market Economist at First Standard Financial in New York. "It's all about commodities." 2

US oil -4.1%, $US39.77
Iron ore -0.8%, $US57.87


Gold prices ended the U.S. day session sharply lower and hit a three-week low Wednesday. The safe-haven metal was shunned on this day as worldwide investor and trader risk appetite has up-ticked at mid-week. Also, the key “outside markets” were in a bearish posture for the precious metals today, as the U.S. dollar index was higher and crude oil prices were lower. April Comex gold was last down $27 at $1,220 an ounce. 3
HUI -7.5%
AUD Gold $1620

AUD .7532

On today
Local data: Australian jobs data

Have a good Easter

1 SMH
2 Reuters
3 *****