Australian shares are expected to dip -0.1% this morning, though that could swing either way by 10am’s open in Sydney, considering the ASX has temporarily lost its Wall Street bellwether to a U.S. holiday.
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Futures for the S&P 500 and Dow Jones have been moving, but each has only added around +0.1% this morning and isn’t moving the dial.
Europe has had little impact this morning: Germany’s DAX advanced as much as +0.6% and London’s FTSE is up +0.1%, but traders Down Under don’t seem interested in taking any trading leads from those EU patterns.
The biggest mover we’ve seen through Week 36’s quiet start has been gold; the precious metal, and its little brother silver, have both been climbing in value since the U.S. Court of Appeals ruled Trump “went too far” when he declared national emergencies to justify imposing his tax/tariffs regime.
Gold is inching towards ATHs; silver breached US$40 per ounce, a 14-year first.
ASX stocks to watch
Back home, we’re still waiting for the economic growth data that’s pencilled in for tomorrow. That has some contributing data popping up today – net exports and the Oz account deficit will both be shared.
In company news, Invictus Energy (ASX:IVZ) has continued its windfall few weeks, landing National Project Status for its Carbora Bassa Project in Zimbabwe just days after the Qatar royal family joined as investors.
West Coast Silver (ASX:WCE) has drawn early focus on the HotCopper forums too, on news its Elizabeth Hill exploration is expanding at a “high intensity.”
And elsewhere, antimony producer Trigg Minerals (ASX:TMG) told holders it’s spotted a high-grade tungsten system at its Tennessee Mountain project that “supports the prospectivity for a bulk-tonnage skarn system.”
Altech Batteries (ASX:ATC) is one to watch, too, after it secured a $46.7M Euro grant.
Buck and ore
Now – in forex, the Aussie dollar buys 65.5 US cents.
And to commodities, all in the greenback,
Iron Ore has plunged -2%, to $101.65 a tonne in Singapore,
Brent Crude is at $68.11,
Gold has, as mentioned, climbed today to sell at $3,484 per ounce, and,
US natgas futures are mixed, at $2.97 per gigajoule.
That’s HotCopper’s ASX Market Open, I’m Isaac McIntyre – good luck, happy trading.
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