Key News Overnight:
U.S. stocks fell as Trump’s latest tariff imposition was accompanied by Wilbur Ross’s warning that China will face a similar fate if no trade deal is reached. Treasuries dropped, with 10-year yields climbing the most in more than three weeks.
The RBA will probably hold this month after its trim in October, economists said. The pause in easing may be short. Australian economic performance remains soft and Governor Philip Lowe opened up the unexpected prospect of two more cuts when setting parameters for adopting unorthodox policy last week.
Hong Kong’s retail sales suffered a record contraction in October, as the city counts the cost of almost six months of political unrest. Retail sales by value contracted by 24.3% in the month from a year earlier, the fourth month of double-digit declines.
Christine Lagarde told the European Parliament that the ECB will be “resolute” in restoring euro-zone price stability under her presidency, while stressing that an upcoming strategy review will be wide-ranging, including climate change as well as inflation.
It is a big week for oil markets as OPEC and allies meet in Vienna. Most signs point to them sticking with existing cuts, though supply and demand data suggests they’ll need to prolong the agreement past its current end-March expiry.
In This Issue:
Carnarvon Petroleum (CVN) | Dorado field development update | SPEC BUY | Analyst | Michael Eidne
FAR Ltd (FAR) | Development & exploitation plan submitted for Sangomar Field | Not covered | No rating
State Gas (GAS) | Operational update | Not covered | No rating
Gage Roads (GRB) | Angel Seafood (AS1) | Saracen Mineral Holdings (SAR) | Argonaut’s 2019 Best Undeveloped Projects