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Trading Idea of the Day
ASX:CXO - Core Lithium Ltd - (NEUTRAL BIAS - long term & BEARISH BIAS - short term)
- Key levels on the chart - consider taking trades from key support/resistance zones.
- Goldman Sachs initiates a Sell rating on Core Lithium
- The investment bank expects lithium prices to begin falling in the second half of 2023.
- Chinese EV subsidies have pulled forward battery demand by at least 12-24 months, according to Goldman. The team believes the battery maker overcapacity, on the back of accelerated capacity build-out amid a decelerating growth of new energy vehicles sales will eventually weigh on lithium prices," the analysts said.
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: Shell and Equinor boost their exposure to carbon capture tech
Podcast of the Day: The Lead-Lag Report’s Michael Gayed on this year’s treasury anomaly
APAC Daily Report
Market Snapshot & Highlights as of 8:00am AEDT
EXPECTATIONS: Energy LOWER (lower oil prices) & Materials LOWER on overall lower base metal prices.
Global Markets Headlines
- Swiss central bank lifts interest rates again to counter ‘further spread of inflation (CNBC)
- ECB hikes rates by 50bps, sees significant increases ahead as it announces plan to shrink balance sheet (CNBC)
U.S. slaps restrictions on Chinese chipmaker and other companies over national security worries (CNBC)
Bank of England hikes rates by 50 basis points, will continue to respond ‘forcefully’ if needed (CNBC)
FTX insider turned on Sam Bankman-Fried before bankruptcy, flagging potential fraud to regulators (CNBC)
China’s retail sales shrink far more than expected, while industrial production disappoints (CNBC)
Morgan Stanley upgrades its 2023 growth outlook for China, expects stronger and earlier rebound (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
Disclaimer: CMC Markets Singapore may provide or make available research analysis or reports prepared or issued by entities within the CMC Markets group of companies, located and regulated under the laws in a foreign jurisdictions, in accordance with regulation 32C of the Financial Advisers Regulations. Where such information is issued or promulgated to a person who is not an accredited investor, expert investor or institutional investor, CMC Markets Singapore accepts legal responsibility for the contents of the analysis or report, to the extent required by law. Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information.
