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Need 4 Speed - Pre Market ASX Report - 29/08/22

ASX market board

Check out our daily ASX pre-market and AU macro outlook below!


Content Summary


1) APAC Week Ahead

2) Market Snapshot & Highlights (as of 7 am AEST)

AUS Macro Table

Global Markets Commentary

  • Jackson Hole - US Federal Reserve Chair Jerome Powell noted in a speech to the Jackson Hole central bank symposium: “Restoring price stability will likely require maintaining a restrictive policy stance for some time.” And further: “The historical record cautions strongly against prematurely loosening policy.”
  • US Economic Data -  Personal income rose by 0.2% in July (survey: +0.6%) with spending up 0.1% (survey: +0.5%). The key inflation measure - the core PCE deflator - lifted by 0.1% in July to be up 4.6% on the year (survey: +4.7%). The advance goods trade deficit fell from US$98.59 billion to US$89.06bn in July (survey: US$97bn). The final University of Michigan consumer sentiment index rose from 55.1 to 58.2 in August (survey: 55.2). 
  • US share markets slumped on Friday as the Fed chair suggested interest rates would be higher for longer. All 11 S&P 500 sectors were lower.
  • European share markets fell on Friday. Investors digested the speech from the Fed chair and weak German consumer sentiment data.
  • US treasuries were weaker on Friday (yields higher).
  • Major currencies were mixed against the US dollar in European and US trade.
  • Global oil prices rose on Friday. Fears that the OPEC+ group could cut production offset hawkish comments from the Fed chair.
  • Base metal prices were higher on Friday. Over the week Spot gold fell by US$13.10 or 0.7%. Over the week iron ore rose by US$1.17 or 1.1%.  

3) Global Markets Headlines

Click on the hyperlink for further information on the headlines, check out our insights panel on the CMC Markets NextGen platform or can follow us on Twitter  & 

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

4) ASX Economic Calendar

5) Idea of the Day

(FMG – Fortescue Metals Group)

6) Macro-Economic Calendar

Economic Calendar (TODAY)

Economic Calendar (YESTERDAY)
Weekend - NA

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