30/01/2023

Today’s Announcements & News

NZ December trade balance at 8.45am AEDT

Overseas: US Dallas Fed index January

Australia

Australian shares are poised to open higher, bolstered by further gains in New York as Tesla rallied sharply for a second session.

 

United States

Fundstrat Global is holding fast to its view that inflation is cooling fast in the US.

The overarching takeaway is inflation hit a wall in October and is running well below 3 per cent and arguably on its way to sub-3 per cent by mid-2023. The result will be an easing of financial conditions. The S&P 500 will rise 26 per cent, or to more than 4800 which closed at 4070 on Friday.

 

Commodities

Gold futures were flat in the last two weeks as the decline in the US dollar came to a pause. With RSI, indicating that its upside momentum may be exhausted.

 

The rebound in oil markets lost steam with the WTI futures pulling back under $80 per barrel again. While the US crude inventories hit a 16-month high, Russia’s supply seems not to be affected by the western sanctions.

The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion.