Hello, I’m James Preston and welcome to the morning outlook exclusive to kalkine tv
– providing you with all the information you’ll need for a successful day of trading.
The ASX is set to open higher to start the week following a positive session for Wall
Street on Friday.
According to the latest SPI futures, the ASX 200 is likely to open 34 points or 0.45% higher.
The ASX itself closed on Friday March 25, at its highest level in more than two months.
On Friday the best-performing sector on the ASX was Materials, up 1.3 per cent.
The worst-performing sector was Health Care, down 0.8 per cent.
The best-performing stock in the S&P/ASX 200 was BlueScope Steel and the worst-performing
stock in the S&P/ASX 200 was Telix Pharmaceuticals (ASX:TLX), closing 11.2 per cent lower at
$4.21.
The Federal Budget is set to be unveiled tomorrow at 7:30pm and in a series of interviews on
Sunday treasurer Josh Frydenberg hinted that his fourth budget would provide practical
measures to ease the cost of living and curb inflation concerns.
As for the US market, Wall Street enjoyed a marginally positive finish to end last week.
The Dow Jones rose 0.45%, the S&P 500 climbed 0.5%, while the NASDAQ ended 0.15% lower.
European markets were mostly flat, veering into the red.
London’s FTSE 100 rose by 0.21%, the French CAC 40 dipped by 0.03%, the German DAX saw
marginal gains of 0.22% and the STOXX 600 inched higher by 0.11%
It was a difficult Friday for Asian markets.
Japan’s Nikkei saw a marginal gain of 0.14%, China’s Shanghai Composite fell by 1.17%
and Hong Kong’s Hang Seng saw the biggest loss falling by 2.47%.
TIME now for a quick break before we take a look at the Aussie dollar, oil, gold and
the world of crypto!
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Welcome back to the morning outlook where we give you all the information you’ll need
for a successful day of trading.
The Aussie dollar enjoyed a surge throughout the past week.
On Monday March 21, it was 73.99 US Cents, one Aussie dollar is now buying 75.15 US Cents
and is expected to see further incremental gains this week.
Oil prices turned positive on Friday after reports of a missile strike and a fire at
the facility of Saudi Arabia's state-run oil company Aramco.
WTI rose 0.63% to US$113.05 per barrel.
Brent crude was at US$119.78, also up 0.63% after falling over US$3 earlier in the session.
Gold largely held it’s value.
Demand for safe-haven assets including gold and the Swiss franc remained resilient as
the conflict in Ukraine continued.
Spot gold remained elevated at US$1,955 an ounce, down about 0.10% for the day.
And lastly, the past 24 hours has seen a huge surge for the crypto market.
At the time of writing Bitcoin has risen by more than 5% to trade above $US46,700, Ethereum
followed suit jumping by 4.3% to trade over $US3,270 per token.
In the past 24 hours the global crypto market capitalisation has increased by 4.09% to for
a valuation of more than $US2.09T.
Well that’s all for the morning outlook.
Have a great day trading and make sure to keep it locked on Kalkine TV for the latest
market insights and business news.
I’m James Preston reporting for Kalkine.