ASX set to rise at the open as Trade Tensions ease and Wall Street rebounds

US markets continued their rally on Friday with all indices finishing the last trading week of November 0.8% higher. The gains saw Wall Street finish a rather volatile month slightly in the green. The strong performance came as a result of positive sentiment amongst investors mainly due to hopes of easing trade tensions as well as the likelihood of an interest rate hike in the near term diminishing earlier in the week.

ASX futures were up 26 points over the weekend indicating an optimistic start to December. No doubt this was predominantly influenced by the 90 day Trade Truce established by Donald Trump and Xi Jinping. The two leaders are set to discuss the matter further on Saturday. Investors will also anticipate the release of very significant local data as Australia‚Äôs GDP partials, RBA policy meeting, building approvals and retail sales data will all be released this week. 

U.S 10 year bond yield fell to 2.99%. Brent Crude oil also fell to $59.46 USD per barrel however the OPEC meeting later in the week is expected to announce a potential reduction of supply. AUD is trading at 73.18 US cents. 

Market Data:

-    Australia Company Operating Profits 10:30am AEDT

-    US ISM Manufacturing PMI 1:00am AEDT

This article was written by Charles Odontuyaa - Relationship Manager, Rivkin Securities Pty Ltd. Enquiries can be made via or by phoning +612 8302 3633.

comments powered by Disqus

DISCLAIMER: Rivkin aims to provide clear and simple information to those visiting our website. If any part of this disclaimer does not make sense, please phone Rivkin and ask to speak with a member of our Dealing and Relationship Management Team. Rivkin provides general advice and dealing services on securities, derivatives and superannuation (SMSF). Rivkin also provide SMSF administration and accounting services. Rivkin does not provide advice that takes into account your, or anybody else's, investment objectives, financial situation or needs. We strongly suggest that you consult an independent, licenced financial advisor before acting upon any information contained on this website. Investing in and trading securities (such as shares listed on the ASX) and/or derivatives (such as Contracts for Difference or 'CFDs') carry financial risks. CFDs carry with them various additional risks that differ from more simple securities such as fully-paid company shares. Some of these risks include not owning the underlying instrument from which a price is being derived, settling trades 'over the counter' with a financial institution rather than on a stock exchange, and using leverage to gain access to trades that may have a higher face value than your initial deposit. This risk of leverage means that it is possible to lose more than your initial investment. Our aim is to create more life choices for our clients, which means improving the wealth of clients throughout many market cycles by nurturing a relationship spanning many years. If you are not comfortable with your understanding of the risks involved before using a Rivkin product and service, please contact our office to seek further information or a Product Disclosure Statement, or make an appointment to sit with one of our friendly financial experts. It is in our interest for your Rivkin experience to be a rewarding and comfortable one. Rivkin is a trading name of Rivkin Securities ABN 87123290602, which holds Australian Financial Services Licence No. 332 802.