Australian shares are poised to open basically flat, +0.03% higher on Thursday after ASX 200 futures reversed an impending red day on news Trump’s administration and the European Union were nearing a 15% tariffs resolution.
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The U.S.-EU peace talks come just a day after the States settled on a deal that would see Japan “open” its economy to American cars, trucks, and rice.
Trump declared the U.S. would “always have a great relationship with Japan.”
The S&P 500 sizzled to a third straight record close on the news, while Tokyo’s Nikkei leaped a whopping +3.5% through its evening trade.
Europe enjoyed a rise too: The FTSE has been up +0.4%; the Stoxx +1%.
Trump tariffs are a talking point on Aussie shores too, but for different reasons, with the federal government today lifting its de facto ban on U.S. beef – a trade talks sticking point Trump had complained about several times.
The Albanese gov’t’s move will invite the ire of farmers and biosecurity experts alike; they made the call as a way to appease Trump and avoid higher tariffs.
In company news, Fortescue (ASX:FMG) and Lynas (ASX:LYC) are reporting today.
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To forex, the Aussie dollar buys 66 US cents.
To commodities, all in the greenback,
Iron Ore has been down slightly, selling at $104.75 a tonne in Singapore,
Brent Crude is at $68.64,
Gold is at $3,393 per ounce, and,
US natgas futures have plunged -5.5%, to $3.07 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck and happy trading.
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