Day Trading 19 Jan Pre Market

Morning all
Thanks Usual Suspects

The ASX is set to continue to wallow this morning following a soft lead from European markets with US markets shut for their national NRA Holiday.
SPI futures are 34 points lower at 4783

European shares fell on Monday, following Asia lower and led by banks after the European Central Bank said it would quiz euro zone lenders about high levels of bad loans, while oil prices tumbled on the prospect of more supply from Iran.
With U.S. markets closed for the Martin Luther King Day holiday, U.S. stock index futures slipped 0.3 percent SPc1.
European shares opened higher but any prospect of a rally after stocks hit their lowest since December 2014 on Friday quickly fizzled out.
The pan-European FTSEurofirst 300 index .FTEU3, which has lost more than 10 percent this year, dropped a further 0.2 percent, with an index of euro zone banks .SX7E down 3.3 percent.
An ECB spokesman said on Sunday a number of banks would be asked about high levels of non-performing loans. The burden of such loans, particularly in Greece, Portugal, Spain and Italy, is curbing the euro zone's economic recovery by limiting banks' ability to lend.
"The uncertainty in the market, be it in Europe or wherever else, is causing these banks to suffer," Mark Foulds, sales trader at ETX Capital, said, adding that the sector was also under pressure from recent volatility linked to China.
"When the markets fall like they have done, everyone feels on edge. The market is dire, and there's not the liquidity that there used to be, which can mean the market gets oversold."
Britain's FTSE 100 .FTSE index fell 0.4 percent.

Brent oil earlier extended its decline below $US28. Prices pared losses after the Organisation of Petroleum Exporting Countries, which supplies about 40 per cent of the world's oil, predicted production outside its members would drop this year by 660,000 barrels a day. That deepened the decline from its previous estimate by 270,000 barrels a day.
Speculators' short position in West Texas Intermediate crude, or US oil, rose 15 per cent in the week ended January 12, data from the US Commodity Futures Trading Commission show. It's the highest in records dating back to 2006.


Nickel led base metals higher in London on optimism that China will see an increase in demand and its economy will avoid a hard landing. The metal used to produce stainless steel rose as much as 3 per cent to $US8650 a metric ton.

Gold prices ended a non-eventful U.S. trading session modestly lower Monday. In observance of Martin Luther King day, U.S. stock and bond markets were closed for the day while overseas markets, including gold, were open. February Comex gold settled down $1.8 at $1,088.90 an ounce, after hitting an intraday high of $1,093.30.
AUD Gold $1587

In London, BHP -1.01%, Rio -0.67%

AUD .6861

On Today
Rio release its fourth-quarter operations review at 8.30am Sydney time. Westpac consumer confidence January.
China 4th Qtr GDP. China December industrial production, retail sales, fixed asset investment.
UK inflation for December. German ZEW for January.
US homebuilder optimism index for January. US Congressional Budget Office annual budget and economic outlook.
Earnings: Bank of America, Morgan Stanley, Netflix, IBM, Delta Air Lines.


Have a good day