Select the account you'd like to open


No Trumps

Positive sentiment buoyed markets around the globe overnight. Some gains were lost following president-elect Trump’s first press conference. Markets are disappointed by a lack of detail around the much touted stimulus plans.  Gains in key commodity markets may be the differentiating factor in Asia Pacific trading today.

Trump’s focus on attacking US intelligence services and critical journalists instead of outlining plans for his administration saw US markets retreat from earlier highs. Worse, even first year economics students see the contradiction in promising job creation while erecting trade barriers. There is a growing fear that recent positive moves are based on bombast, and could unravel very quickly.

Credit data in Australia and trade and lending data in Japan may have an influence on investor thinking, with any higher than forecast credit growth likely to support share prices. Futures markets are pointing to varying performance today. Opening falls in China, Japan and Hong Kong reflect the negative momentum into the US close. However, strong gains for oil and another lift in gold prices see Australia 200 futures modestly higher.

Sign up for market update emails