G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
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Azeem Sheriff - @Azeem__Sheriff
CMC Markets - @CMCMarketsAUSNZ
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
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 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)
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Hurricane Ian Makes Landfall in Florida as Category 4 Storm (WSJ)
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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)
