Fortune Prime Global Overnight headlines 21/11/2022

Overnight headlines

Australian equities are expected to open higher following a mildly positive week-end on Wall Street, as investors continue to prepare for a more gradual increase in US interest rates beginning next month.

ASX futures increased by 24 points, or 0.3%, to 7192.

The local currency dropped 0.2% and held at less than US67. Investors are anticipating Philip Lowe, governor of the Reserve Bank of Australia, who will speak on price stability, the supply side, and prosperity on Tuesday at the 2022 Annual CEDA luncheon in Melbourne.

Bitcoin was down 0.4% to $US16,558 on bitstamp.net.

On Wall Street, equities marginally increased as investors headed into the weekend. Utilities led nine of the S&P 500's 11 industry groups higher, while energy lagged behind oil in decline.

Investor views that a rate flip is imminent were not considerably diminished by hawkish remarks made by US Federal Reserve policymakers throughout the past week.

Market movements

·       AUD down 0.2% to 66.73 US cents;

·       On Wall Street, Dow gained 0.6% and S&P gained 0.5%, Nasdaq up by 0.1%

·       The Stoxx 50 in Europe is up 1.2%. FTSE +0.5% CAC +1% DAX +1.2%

·       Spot gold fell by 0.6% to US$1750.68/oz;

·       Brent crude fell by 2.1% to US$87.86/barrel;

·       Iron ore rose by 0.8% to US$99.10/tonne; and

·       The 10-year yield was US$3.83%. Australia 3.61 % Germany 2.01%

Today’s agenda

Local: October credit card usage in NZ

Overseas data: Chicago Fed national activity index for the US in

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