Australian Stock Report - Market Pulse

Morning Market Update: Flat Start Ahead

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Publish date: Thu, 13 Mar 2014, 12:06 PM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

US stocks were mostly flat overnight, struggling for direction amid a lack of economic catalysts.

Wall Street opened with steep declines following yesterday's Asian market sell-off, which was sparked by concerns over China's economy.

US markets managed to erase their losses, although European equities stayed lower after a measure of eurozone industrial production surprisingly contracted in January.

In the commodities complex, copper rebounded slightly from its recent heavy falls, whilst oil tumbled below $100 after data showed a surprise jump in weekly US crude stockpiles.

Elsewhere, gold soared almost two percent, finding support from safe haven flows amid rising tensions in Ukraine and prospects of weaker growth in China.

In currency markets, the kiwi has jumped higher this morning following the New Zealand central bank's move to hike interest rates.

In economic news, Aussie jobs data for February is due for release today at 11:30am, AEDT.

Morning Market Update: Flat Start Ahead is a post from: Australian Stock Report Market Pulse Blog

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