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 - @Azeem__Sheriff
CMC Markets - @CMCMarketsAUSNZ
Trading Idea of the Day
NYSE:GM - General Motors - BULLISH BIAS
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Consider taking entries, exits, stop losses and take profits from key levels
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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
ASX Key Events Calendar (TODAY)
Economic Key Events (TODAY)
Economic Key Events (YESTERDAY)
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
Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC
Market Snapshot & Highlights as of 7am AEST
EXPECTATIONS: Energy HIGHER (higher oil) & Materials LOWER on lower base metal prices.
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)
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German minister criticizes U.S. over ‘astronomical’ natural gas prices (CNBC)
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Elon Musk’s Twitter Reversal Revives Takeover Bid for a Now-Weaker Firm (WSJ)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
