Good morning and a happy Tuesday, but maybe not for traders.
After hitting two all time highs in a row, the ASX is set to have a more relaxed run, though futures tip a hold above 8,000pts.
The subdued market on Tuesday follows Chinese economic data on Monday pointing to sustained economic weakness in the country, despite the Year of the Dragon.
Overseas, US earnings season kicks off this week – expect that to add to volatility following the assassination attempt on Trump.
Looking at the ASX,
Encounter Resources (ASX:ENR) has announced its discovery of what is believed to be a large mineralised carbonatite.
The target of interest sits at Green West Arunta.
Meanwhile, Wildcat Resources (ASX:WC8) has announced a metwork update from Leia.
The company described the results of metallurgical testwork downstream as “excellent.”
Finally, Greenvale Energy (ASX:GRV) has reveraled one of its cost-saving strategies for FY25.
The company will be dumping its $1.53M shareholding in third party Astute Metals NL.
In forex, the Aussie is buying 68 US cents.
In commodities, gold is flirting with all time high levels at $2,421 American dollars per ounce and iron ore bumped slightly overnight to $108.70 cents American per tonne at Singapore.
Brent crude has hit $84.83 cents American per barrel and US natgas futures are at $2.16 per gigajoule.
That’s Market Open, I’m Jonathon Davidson, and we’ll be with you later in the trading day.