AM 21 Sep 26: ASX set to fall ahead of jobs figures this week
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What are the upcoming Australian employment figures and how might they affect the ASX this week?
Alisna production.
The ASX set to fall ahead of key employment figures this week. US share markets mostly gain on Friday as oil prices ease. And we're welcoming a new member to the podcast. Good morning, I'm James Gruber. And I'm Gillian Bowen. It's Monday, the 21st of September, and this is the morning edition of the Comsec Market Update.
Well, welcome to the start of a new week, where the countdown is on for next week's Reserve Bank Board decision on interest rates. So, before that announcement, there's a key data release and some more speaking engagements for RBA representatives. On Thursday this week, unemployment numbers for August will be released, which could influence the upcoming rate call next Tuesday. A reminder the unemployment rate was 4.5. five percent in July.
How are global commodity markets moving – especially oil, copper, aluminium and gold?
Meanwhile, RBA Assistant Governor Sarah Hunter is on a podcast tomorrow morning, while Governor Michelle Bullock will speak at an event in Sydney tomorrow afternoon. So there is a bit for markets to monitor.
While the developments over the next few days will be analyzed for signs of the path ahead, off the back of commentary from the RBA last week and other key data points, markets are pricing in an 88% chance of a 25 basis point rate hike. Now, as for our open this morning, the Aussie share market is set for a lower start, with index futures down 0.7% when they were last trading. This is in contrast to the most
A reminder on Friday, the ASX 200 closed flat at 8,731, having risen as much as 0.5% earlier in that session. The benchmark fell 0.1% for the week. On Friday, bank losses offset strength in miners as investors were weighing the prospects of further interest rate hikes. So let's move on to commodities, James. What's the latest there?
Well, global oil prices fell on Friday after China, acting on a request from Saudi Arabia, asked Iran to limit attacks by Houthi rebels on Saudi oil infrastructure. Now that's threatened a second oil export route in the Middle East for some time, or at least in recent weeks and months.
What is the latest outlook for the Australian dollar and other major currencies?
The print crude futures settled almost 1% lower at $103.87 US dollars a barrel. Base metal prices were high. Higher on Friday, copper futures rose for a fourth straight session, up 0.4%, as demand from China continued to underpin the market, while aluminium futures also climbed 0.4%. Meantime, gold futures rose to a one-week high as lower oil prices eased concerns about prolonged inflationary pressures. The futures settled zero point six percent higher at four thousand four hundred and twenty five US dollars an ounce. Iron ore futures edged up zero point two percent to settle at ninety seven point five seven US dollars a tonne.
So let's have a look at currencies. They were steady against the US dollar. One Australian dollar is buying 71.21 US cents. The euro is worth 1.1486 US dollars, while one US dollar is buying 156.88 Japanese yen. The latter was after the Bank of Japan raised interest rates on Friday, but the yen weakened as members of the board were. split on the decision and that clouded the outlook for rates.
How did US equity markets close on Friday and what did Treasury yields indicate?
Let's get a wrap of what's happened now with markets overseas. The Dow Jones Index finished down 0.2%. The SP 500 rose 0.2%. And the Nasdaq added 0.4%. James, how did the trading day unfold?
So those US share markets mostly closed with modest gains as benchmark US Treasury yields topped 5%, while crude prices reversed earlier gains but remained above US$100 per barrel, keeping inflation worries front and center. Among the 11 major sectors in the S P 500, technology stocks gained the most, while utilities ended with the steepest percentage loss. Chipmakers are Again led the way with Sandisk surging 11% and Micron jumping almost 4%. Berkshire Hathaway announced that Warren Buffett will step aside as chairman to make way for his son, nine months after handing the CEO position to Greg Abel. The holding company shares edged lower on the day. Crypto's currency-linked firms, Coinbase Strategy and Robin Hood, gained between 9% and
Why did European markets tumble and which sectors led the losses?
And 16% as Bitcoin prices jumped. Meanwhile, Netflix shares tumbled nearly 5% after a broker downgrade.
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Chapters
7 chapters
1
What are the upcoming Australian employment figures and how might they affect the ASX this week?
0:02–0:56
2
How are global commodity markets moving – especially oil, copper, aluminium and gold?
0:56–2:21
3
What is the latest outlook for the Australian dollar and other major currencies?
2:21–3:33
4
How did US equity markets close on Friday and what did Treasury yields indicate?
3:33–4:38
5
Why did European markets tumble and which sectors led the losses?
4:38–6:13
6
Which Australian and international stocks are on the watch‑list today?
6:13–7:02
7
Who is the new host joining the CommSec podcast and what will his role be?
7:02–8:13
Speakers
3 identifiedMore from CommSec Market Update
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PM 18 Sep 26: Huge week ahead - $12.5B payday meets rate hike countdown
AM 18 Sep 26: Wall Street rebounds as rates remain in focus
PM 17 Sep 26: Bank gains keep ASX positive
AM 17 Sep 26: The Federal Reserve raises rates by 25 bps
PM 16 Sep 26: Markets brace for US rate decision