Rise and Shine: What you need to know before the ASX opens
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Amid the global re-rating in bond markets, central banks and inflation figures will again take centre stage on the economic calendar.
In Australia, RBA governor Philip Lowe will participate in a panel discussion on Monday morning. Then on Tuesday evening, Michelle Bullock (RBA assistant governor) will give a speech called “Modernising the Australian Payments System” in Berlin.
Later in the week on Friday the RBA will have May figures for private sector credit, including growth in home loans.
Overseas, US Fed Chair Jerome Powell will give a speech on the US economy on Tuesday night. And PCE data for May on Friday night will give an update on the US inflation outlook.
Core PCE inflation is forecast to be soft at just 1.6%, but Westpac says that weakness is “expected to be transitory”.
Then all eyes will on be on the G20 Summit, particularly President Trump’s scheduled meeting with Chinese leader Xi Jinping.
The Aussie dollar will start the week at 0.6928 US cents.
The following companies are scheduled to come out of a trading halt or voluntary suspension over the next 48 hours:
FYI Resources (ASX: FYI) – capital raising
Dreadnought Resources (ASX: DRE) – capital raising
Tesserent (ASX: TNT) – capital raising
P2P Transport (ASX: P2P) – trading update
Quantify Technology (ASX: QFY) – capital raising
Avenira (ASX: AEV) – short term funding
Spectur (ASX: SP3) – capital raising
Alice Queen (ASX: AQX) – capital raising
Comet Resources (ASX: CRL) – capital raising
Gold: $US1,398.65 ($2,017.82) +0.78%
Silver: $US15.35 -0.45%
Oil (Brent): $US65.20 +1.16%
Oil (WTI): $US57.43 +1.38%
Coal: $US72.12 +2.30%
Iron ore 62pc fe: $US107.54 +0.31%
AUD/USD: $US0.6932 +0.09%
There were plenty of interesting developments last week which caught the attention of Stockhead readers.
Nick Sundich took a look at which stocks might be in the firing line for an end-of-financial-year selloff. Rachel Williamson summarised (literally) everything you need to know about the Aussie cannabis industry, and Angie East provided another interesting update (hint: it’s bullish) on the outlook for rare earths.
Check here for a full recap of last week’s biggest Stockhead stories.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Friday, June 21:
— HotCopper (@HotCopper) June 21, 2019
Leading the pack was Orion Metals (ASX:ORM), climbing from 0.008 cents to 0.2 cents on the back of a quarterly of and annual report released on Thursday — good enough for a gain of 150 per cent.
And any reader with half an eye on resources would have known that gold stocks had a great session to end the week, after the gold prices in AUD terms pushed above $2,000 for the first time ever.
Here are the best performing ASX small cap stocks for June 17-21:
The market lost faith that Avenira (ASX:AEV) has funding secured, as the share price slumped 54 per cent last week before hitting a trading halt.
The phosphate miner has been waiting on $11m-14m worth of funding to keep the wheels spinning and hopes to have some news to share this morning.
These were the worst performing ASX small cap stocks for June 17-21: