{"id":3870,"date":"2024-01-01T18:40:42","date_gmt":"2024-01-01T18:40:42","guid":{"rendered":"https:\/\/economicherald.net\/?p=3870"},"modified":"2024-01-01T18:40:42","modified_gmt":"2024-01-01T18:40:42","slug":"traders-diary-everything-you-need-to-know-before-the-asx-opens-3","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3870","title":{"rendered":"Traders\u2019 Diary: Everything you need to know before the ASX opens"},"content":{"rendered":"

\u00a0<\/p>\n

What grabbed the headlines last week?<\/h2>\n

On Friday, the ASX ended trading for 2023 on an entirely unsurprising low note, down by -0.3%.<\/p>\n

\n

Via MarketIndex\n<\/p><\/div>\n

Unspectacular, even in failure.<\/p>\n

It\u2019s not criticism, just a little whingeing as the benchmark ASX200 did in fact put in a rally Santa could be proud of over December, up by +8.21% which added heaps of icing to 2023\u2019s final rise.<\/p>\n

Basically, up +8.13 for the year, it\u2019s December and Santa which got us well over the line.<\/p>\n

\u00a0<\/p>\n

ASX Sectors Last Week<\/h2>\n\n

On Friday, local shares tracked gains on Wall Street, as they have all year but without any of the American gusto which has lifted the S&P500 to within cooee of its record best.<\/p>\n

Me mate Edward Scissorbrains Sunarto<\/a><\/em><\/strong> reports that a fair few\u00a0analysts now believe next year could be even better in the states for epic equity as the \u2018Magnificent Seven\u2019 \u2014 Apple, \u00a0Amazon, Alphabet, \u00a0Meta, Tesla, Nvdia, Microsoft \u2014 are expected to post over 20% earnings growth in 2024.<\/p>\n

Gold finished the year at US$2,063 an ounce, clambering about +13% higher in 2023 on the blood of its enemies (safety, security, certainty, lower rates and a decent USD) for its first yearly gain in 3.<\/p>\n

Gold cracked a new record high last year, mostly supported by hopes central banks will begin stomping on interest rates.<\/p>\n

The US Federal Reserve is now thought to kick off an easing cycle for cash as soon as March after end-year signals inflation has topped out.<\/p>\n

Geopolitical tensions and the levelling of the Gaza Strip in the Middle East added furl to the safe-haven\u2019s fire buying.<\/p>\n

\u00a0<\/p>\n

A Golden Year for Gold<\/h2>\n

Via TradingEconomics<\/p>\n

<\/h2>\n

The Week Ahead<\/h2>\n

Very quiet at home as the year begins with a wee pop, rather than at DefCon 5. The NFP report and Eurozone CPI will be the week\u2019s focal point for global markets.<\/p>\n

CoreLogic are out and about early with home prices, while the RBA mails in an always useful chart pack. Full of charts from December and the previous quarter. Me likee.<\/p>\n

In the States, equity and bond markets get back into business tonight, (Sydenham time, Tuesday in New York) after taking Monday for the New Year.<\/p>\n

Calendar 2024 trading on Wall Street kicks off for real with the latest slew of US jobs data, the absolute highlight of a holiday-quashed week, once the trickle of investors turns into a flood.<\/p>\n

The US Bureau of Labor Stats drops Job Openings on Wednesday, the market expecting a slight monthly rise.<\/p>\n

On Friday the number crunchers roll out December employment data. US unemployment is expected to come in at 3.8%, up from 3.7%.<\/p>\n

Also on Wednesday, the Federal Open Market Committee will release the minutes from its mid-December monetary-policy meeting.<\/p>\n

Canadian employment and Chinese PMIs might attract attention too.<\/p>\n

\u00a0<\/p>\n

The Aussie Economic Calendar<\/h2>\n

Tuesday January 2 \u2013 Friday January 5<\/h2>\n

All sources:\u00a0 Trading Economics, IG Markets\u00a0<\/em><\/strong><\/p>\n

MONDAY
\nDone<\/p>\n

TUESDAY<\/strong>
\nNope<\/p>\n

WEDNESDAY<\/strong>
\nRBA Chart Pack
\nCoreLogic Dwelling Prices MoM<\/p>\n

THURSDAY<\/strong>
\nJudo Bank Services PMI \/ Composite PMI Final DEC<\/p>\n

FRIDAY<\/strong>
\nNope<\/p>\n

\u00a0<\/p>\n

The Everyone Else Economic Calendar<\/h2>\n

Tuesday January 2 \u2013 Friday January 5<\/h2>\n

MONDAY<\/strong>
\nDone<\/p>\n

TUESDAY<\/strong>
\nChina Caixin Manufacturing PMI DEC
\nEU HCOB Manufacturing PMI Final DEC
\nEU Loans to Companies \/ Households YoY NOV
\nUK S&P Global\/CIPS Manufacturing PMI Final DEC<\/p>\n

WEDNESDAY<\/strong>
\nCA S&P Global Manufacturing PMI DEC
\nUS S&P Global Manufacturing PMI Final DEC
\nUS Construction Spending MoM NOV
\nUS 3-Month \/ 6-Month \/ Bill Auction \/ MBA 30-Year Mortgage Rate DEC
\nUS MBA Purchase Index DEC<\/p>\n

THURSDAY<\/strong>
\nUS Redbook YoY DEC
\nUS ISM Manufacturing PMI DEC
\nUS JOLTs Job Openings NOV
\nUSnISM Manufacturing Employment DEC 45.8 46
\nUS FOMC Minutes
\nCN Caixin Services PMI DEC
\nCN Caixin Composite PMI DEC
\nUK BoE Consumer Credit NOV
\nUK Mortgage Lending NOV
\nGB S&P Global\/CIPS Services PMI Final<\/p>\n

FRIDAY<\/strong>
\nUS Jobless Claims\u00a0 DEC
\nCA S&P Global Composite PMI DEC
\nCA S&P Global Services PMI DEC
\nUS S&P Global Composite \/ Global Services PMI Final DEC
\nGB Halifax House Price Index MoM DEC 0.5% 0.1%
\nGB New Car Sales YoY DEC
\nGB S&P Global\/CIPS Construction PMI DEC
\nEU HCOB Construction PMI DEC
\nEU Inflation Rate YoY Flash DEC
\nEU PPI NOV<\/p>\n

<\/span><\/p>\n

The post Traders\u2019 Diary: Everything you need to know before the ASX opens<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

\u00a0 What grabbed the headlines last week? On Friday, the ASX ended trading for 2023 on an entirely unsurprising low note, down by -0.3%. 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