Overnight movements in the US won't help the index today.

Yesterday

• XJO - 1.06%
• Market down across the board in quiet trade

Overnight

DOW - 1.99, SPX - 2.15, NDQ - 2.62%

• Inflation +0.8% in the US sending the market into a tailspin
• 4 main components, airfares, used car prices, rental cars contributing about half of the inflation number
• Bond yields up 6bps
• Volatility spiking to a 3month high
• Crude up 0.69%
• Gold down 1% on rising yields
• SPI futures -28pts

Today

• 1130 AU Wage Price Index
• US PPI. Should be busy due to high CPI
• US Weekly Job Claims
• WBC and NAB Ex-Div today

Comments

The Ex-Driv date corresponding with the overnight movements in the US won't help the index today. Expect the market to drop from the open, support around 6920.

Trading Department Recommendations Performance & Updates

Overnight SNAS hedge proved prudent, look to exit today before market close.

Sold VIX at 27 last night