Key News Overnight:
Big week coming up, headlined by central bank meeting minutes (Fed, ECB and RBA), and Fed Chair Powell’s remarks at Jackson Hole Symposium. Slew of data points due, including August flash PMIs. Commerce decision on Huawei waivers expected Monday. Potential no-confidence vote in Italy on Tuesday. Batch of US earnings slated for release.
The White House pushed back against the notion that the U.S. is headed toward a recession. Advisers Larry Kudlow and Peter Navarro made multiple Sunday show appearances to talk up the economy, with the former saying he doesn’t “see a recession at all,” and the latter predicting “a strong economy through 2020 and beyond.
While Gold’s extraordinary run-up may be entering the second phase of a bull market, according to TD analysts. The bank predicts that investors will now rotate money into riskier companies such as junior miners from the more defensive stocks such as royalty companies or major miners.
Global oil markets face a “somewhat bearish” outlook for the rest of the year, even though supplies will be tighter than previously thought, OPEC said. The cartel raised estimates for world demand this year and next.
In This Issue:
Saracen Mineral Holdings (SAR) | FY19 Financial Results| HOLD | Analyst | Matthew Keane
Beach Energy (BPT) | FY19 Full Year Results | Not covered | No rating
Imdex (IMD) | FY19 Results | Not covered | No rating
Exore Resources (ERX) | Further shallow gold at Veronique | Not covered | No rating
Recent Research:
Pt Merdeka Copper & Gold Tbk (MDKA.IDX) | June Quarter Report | BUY | Analyst | James Wilson
Macmahon (MAH) | Re-initiation | BUY | Analyst | Ian Christie
Please read Argonaut’s Important Disclaimers & disclosures
Log in to the client area below to download the full Morning Note
