G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
For real-time up-to-date data/news/research/ideas/strategies, check out our insights panel on the CMC Markets NextGen platform and follow us on Twitter:
Azeem Sheriff -
CMC Markets -
Trading Idea of the Day
NYSE:GM - General Motors - BULLISH BIAS
Consider taking entries, exits, stop losses and take profits from key levels
Cheaper imported raw materials lowers manufacturing costs.
- While General Motors manufacture their cars domestically, many of the electrical components and raw materials are sourced from foreign markets and imported to the States.
- A stronger U.S. dollar means these raw materials should be able to be sourced at a competitive price, improving margins at a time where the company may see a decline in vehicle exports owing to the exchange rate increasing costs for foreign markets.
ASX & Economic Key Events
OPTO For Investors Research
Article of the Day: Vodafone and Three’s mega merger
Podcast of the Day: Portfolio manager Caroline Cai’s take on an emerging markets’ debt crisis
APAC Daily Report
Market Snapshot & Highlights as of 7am AEST
Global Markets Headlines
- OPEC+ to cut oil production by 2 million barrels per day to shore up prices, defying U.S. pressure (CNBC)
- UK’s Liz Truss pledges tax-cutting future in landmark speech plagued by protest and infighting (CNBC)
- Elon Musk’s plans for Twitter may take inspiration from Chinese super apps (CNBC)
- Apple reportedly in talks to make AirPods and Beats headphones in India (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
Disclaimer: CMC Markets is an order execution-only service. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.