Market Report with Paul Wareing - December 1, 2016

Written on the 29 November 2016

Market Report with Paul Wareing - December 1, 2016

There seems to have been a waning of interest in trading the Trump effect in the US as three weeks have now passed since that momentous day.

The US Dollar edged higher and the stock market attained record highs.  A faint hope that OPEC come to an agreement to restrict production and boost the oil price seemed to fade over the weekend as the Saudis said they would not be consulting non-OPEC countries prior to the meeting.

Outside of the OPEC meeting the main focus will be on non-farm payroll data out on Friday with a figure of 175,00 expected. A number around this level should cement the case for a rate rise in December.

Aussie markets were strong again last week despite a poor construction report. Iron ore maintained its march higher ad even real estate property trusts recovered despite higher bond yields.

Numbers wise there's the capital spending report which should highlight a weakness in mining investment and there are retail sales on Friday. With concerns over a weak GDP and possible rate rise in the US I imagine we shall see some AUD weakness.

So, a fair amount of data out this week and after the recent rally I would expect markets to pause for breath and see how the numbers pan out.



In accordance with Section 949A of the Corporations Act 2001 Barclay Wells Limited advise that information in this article contain general financial advice only. Wells Limited did not take into account the investment objectives, financial situation and particular needs ('financial circumstances') of any particular person. Accordingly, before acting on any advice contained in this site, you should assess whether the advice is appropriate in light of your own financial circumstances or contact your Barclay Wells Limited adviser. Barclay Wells Limited, its Directors employees and advisers may earn brokerage or commission from any transactions undertaken on your behalf as a result of acting upon this information. Barclay Wells Limited, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly, from client transactions. Barclay Wells Limited believe that the advice herein is accurate however no warranty of accuracy or reliability is given in relation to any advice or information contained in this publication and no responsibility for any loss or damage whatsoever arising in any way for any representation, act or omission, whether express or implied (including responsibility to any persons by reason of negligence), is accepted by Barclay Wells Limited or any officer, agent or employee of Barclay Wells Limited.

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Barclay Wells Ltd
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