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ASX to slip, earnings and Powell speech in focus

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Australian shares are set to open lower, taking direction from Wall Street. It’s the peak week for local earnings. Central bankers converge on Jackson Hole.

Australian shares are poised to open lower after losses over the weekend in New York ended a four-week advance. Investors await a speech by Federal Reserve boss Jerome Powell on Friday on whether the central bank will pivot or not.

Corporate reports expected on Monday: Adairs | Ampol | Austal | Chorus | Cooper Energy | EML Payments | Lendlease | Michael Hill | NIB Holdings | Nick Scali Retail | oOh!media | Reliance Worldwide | Sonic Healthcare | Southern Cross Media | The Star Group .The local currency continued to slide, as the US dollar was bolstered by another leap in US government debt yields. The yield on the US 10-year note closed near 3 per cent.

The key risk though is the US entering a recession, which Goldman’s odd put at one in three over the next 12 months. ” In the event of a recession, we forecast the index could fall to 3150. In addition, the Fed’s focus on maintaining tight financial conditions requires that equities do not rise by too much.”

 

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ASX to slip, earnings and Powell speech in focusAustralian shares are set to open lower, taking direction from Wall Street. It’s the peak week for local earnings. Central bankers converge on Jackson Hole.
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ASX to slip, earnings and Powell speech in focusAustralian shares are set to open lower, taking direction from Wall Street. It’s the peak week for local earnings. Central bankers converge on Jackson Hole.
Källa: FinancialReview - 🏆 2. / 90 Läs mer »