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Need 4 Speed - ASX Report - 21/10/22

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 - @Azeem__Sheriff 
CMC Markets - @CMCMarketsAUSNZ

Trading Idea of the Day

ASX:MQG - Macquarie Group Ltd - BULLISH BIAS (long term)

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Macquarie group has been focusing recently on renewable energy which is providing it with a competitive advantage over other banks especially in the investments area.
  • Macquarie Group has the best of both worlds with exposure to mortgages and also investments/asset management, so higher NIM will support it's lending business whilst maintaining its leadership in global asset management
  • A strong USD will assist with Macquarie's earnings report next month as most of Macquarie's income/assets are derived from the US, so could see a positive earnings report, beating expectations with positive forward guidance.

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: Apple’s Foxconn targets 5% of global EV production
Podcast of the Day: Market strategist Kiril Sokoloff’s thematic investment radar

APAC Daily Report

Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC

Market Snapshot & Highlights as of 8am AEDT

EXPECTATIONS: Energy FLAT/LOWER (flat energy prices) & Materials FLAT/LOWER on overall 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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