With the Australian Federal election now over and a new Government set to be sworn in next week, I’m sure we’re all pleased that the campaigning is now over and it’s now time to get to work on the promises that have been made.
**** DJ LME Metals Mixed; China, Syria Influences Compete – Market Talk **** By Laura Clarke @ wsj.com
Base metals on the London Metal Exchange are mixed as investors weigh robust Chinese import figures, supportive for base metal demand prices, against rising global risk aversion given tensions surrounding Syria. Analysts at Commerzbank note that even though August China import figures fell short of July’s yearly high, the trend “remains clearly upwards and proves that Chinese demand is picking up.” The German bank adds a positive Chinese industrial production figure, due to be published tomorrow, could prompt investors to increase their positioning on industrial.
**** DJ US is King, as Far as the Markets are Concerned – Market Talk **** By Kevin Kingsbury @ dowjones.com
Amid upbeat stock-market news in China, US index futures have played along thus far and are in the green. But while the world’s No. 2 economy can provide some boost for bulls, it’s what’s going on the globe’s biggest market which will ultimately set market direction. Be it America’s response–if any–to chemical-weapons use in Syria to the federal budget to central-bank action (or inaction). The US is stirring the drink these days.