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Need 4 Speed - ASX Report - 14/10/22

ASX trading

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

ASX:WBC - Westpac Banking Corp - BULLISH BIAS

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Banks began rallying on Thursday, back of positive earnings results from Bank of Queensland.

  • Higher net interest margins is the key theme with BOQ and it appears to have increased over last quarter adding to its increased revenue and earnings which drove the stock price up by 10% upon release.

  • We can anticipate the other major banks to follow a similar theme with their NIM, adding to positive earnings results later in October and early November. With Westpac's earnings released on 8th November, will be an interesting one to watch!

ASX & Economic Key Events

ASX Key Events Calendar (TODAY)

Economic Key Events (TODAY)

Economic Key Events (YESTERDAY)

OPTO For Investors Research

Article of the Day: Where are Porsche shares headed amid growing EV ambitions?
Podcast of the Day: Discipline Funds CIO Cullen Roche on finding opportunities in a bear market

APAC Daily Report

Market Snapshot & Highlights as of 8am AEST

EXPECTATIONS: Energy LOWER (lower oil) & Materials LOWER on overall lower base metal prices.

Global Markets Headlines

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)


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