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:DAL - Delta Air Lines - BULLISH BIAS
- Americans travelling overseas will notice that the strength of their USD is much higher relative to the country they’re visiting and can get more purchasing power.
- Delta Airlines could see an influx in US-based travellers heading overseas in pursuit of a holiday where the cost of living is comparatively cheaper thanks to a stronger USD.
- Given international passenger revenue has recovered 81% of its pre-COVID numbers, we can expect the rising USD to further strengthen, resulting in a potential higher bottom line for the company.
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: Walmart shares upbeat on metaverse venture with Roblox
Podcast of the Day: Market strategist Kiril Sokoloff’s thematic investment radar
APAC Daily Report
Market Snapshot & Highlights as of 7am AEST
EXPECTATIONS: Energy HIGHER (higher oil) & Materials LOWER on falling base metal prices.
Global Markets Headlines
- Ken Griffin says Fed has not done enough, must continue on its path to reset inflation expectations (CNBC)
- Bank of England intervenes in bond market after historic sell-off (CNBC)
- Europe vows ‘robust and united’ response to suspected sabotage of two Russian gas pipelines (CNBC)
- Billionaire investor Ray Dalio says UK’s economic plan ‘suggests incompetence’ (CNBC)
- Biden approves $1.1B more in military aid to Ukraine; Russia denies Nord Stream sabotage allegations (CNBC)
- Record number of UK mortgage deals pulled in one day as market mayhem takes hold (CNBC)
Hurricane Ian Makes Landfall in Florida as Category 4 Storm (WSJ)
Bonds Rally Across Globe After BOE Moves to Buy Debt (WSJ)
- VW Prices Porsche IPO at Top of Range (WSJ)
- Russia’s Mobilization, Plunging Oil Prices Weaken Putin’s Hand (WSJ)
(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.
