Jackson Hole impacting the Markets

Friday, 25th August 2017 07:41 - by Morning Shot

Asian shares didn't really take the lead from the US overnight as the US indices traded slightly lower and, with the exception of the ASX, the main Asian bourses trade in the black. It is all still very tentative as investors and traders wait for more info from Jackson Hole.

In general, commodities performed well overnight. Copper is now firmly over the $3.00 area - trading closer to $3.04. Lead, zinc and aluminium all followed suit, but tin and nickel are subdued. Spot WTI took a drop yesterday, but recovered as it bounced off the previously-used $47/bbl support level. Gold is still hovering around $1287/oz. There is a real lack of direction as I feel investors are waiting for another catalyst for a move, so keep an eye on Trump comments or anything out of Jackson Hole.

Plenty to busy the market, with the German GDP data for Q2 up for release first thing this morning, while later on in the morning, the (German) IFO survey results are also released - with healthy results anticipated in both cases, so don't be surprised on a mute response on the EUR unless the numbers far exceed expectations. 

Morning Stories
Very quiet news day this morning.
Vodafone are set to buy back shares to satisfy redemption of first tranche of Its MCB.

What to look out for
All the speakers at Jackson Hole, German IFO and US core durable goods figures.