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What to watch on the ASX this week

What to watch on the ASX this week

Investors are likely to be watching announcements from several central banks this week, after the S&P/ASX200 ended lower last week.

Australian shares fell overall in the five days to September 16, with the S&P/ASX 200 index dropping 0.8% to end the week at 5,296.7.

On Friday:

  • Brent oil fell 1.8% to US$45.77 a barrel; down 4.7% for the week
  • WTI crude oil dropped 2% to US$43.03 a barrel; down 6.2% for the week
  • Iron ore steady at US$55.50 a dry metric tonne; down 3.5% for the week
  • Spot gold US$1310.06 an ounce; down 1.8% for the week
  • Australian dollar was holding above US75 cents but has dropped to trade at US74.86 cents on Monday morning

The Dow Jones Industrial Average was down 89 points on Friday but rose 0.2% for the week. The S&P 500 was up 0.5% and the Nasdaq gained 2.3% for the week to Friday.

What to watch this week

In Australia, there is no major data scheduled this week. The newly appointed Governor of the Reserve Bank of Australia (RBA), Philip Lowe, will give testimony to Parliament's economics committee on Thursday. The RBA minutes of the previous board meeting are released on Tuesday.

In China, August home price data is expected and the US has housing market data out late in the week, but the main focus for investors and analysts will be the Federal Open Market Committe meeting on Tuesday and Wednesday.

The US Federal Reserve is expected to hold off on raising interest rates, with markets pricing in an 18% chance of a rise, while December is pegged at a 50% chance.

The Bank of Japan also meets to discuss monetary policy and is expected to take some action on Wednesday, with speculation that it might cut interest rates deeper into negative territory.

The Reserve Bank of New Zealand has a cash rate decision announcement scheduled for Thursday.

Stock movers

Below are the best- and worst-performing ASX 200 stocks for the week ended Friday, September 16.

Company/Index

ASX code

Weekly price change

Blackmores

BKL

+10.4%

Whitehaven Coal

WHC

+9.7%

Credit Corp Group

CCP

+9.3%

Southern Cross Media

SXL

+6.7%

Asaleo Care

AHY

+6.0%

S&P/ASX 200

XJO

-0.8%

Origin Energy

ORG

-8.9%

CYBG

CYB

-8.9%

Infigen Energy

IFN

-9.3%

Santos

STO

-13.0%

WorleyParsons

WOR

-15.1%

Past performance is not a reliable indicator of future performance. Source: Bloomberg

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. The inclusion of companies in this article does not constitute a recommendation and it’s vital to remember that the value of shares in any company can fall as well as rise, which means you could lose money by investing in them. Investors should consult a range of resources, and if necessary, seek professional advice, before making investment decisions in regard to their objectives, financial and taxation situations and needs because these have not been taken into account. Any securities or prices used in the examples given are for illustrative purposes only and should not be considered as a recommendation to buy, sell or hold. Past performance is not indicative of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and a Participant of the ASX Group and Chi-X Australia.