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ASX, AUD, commodities drop across the board, Bitcoin, Dogecoin surge

·Contributing editor
·2-min read
Yahoo Finance's thursday morning markets wrap. Source: Getty
Yahoo Finance's thursday morning markets wrap. Source: Getty

Good morning.

Here's everything you need to know for finance markets this morning.

ASX: The Australian share market looks set to extend its decline on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1 per cent lower this morning.

Wall Street: It was a poor night of trade on Wall Street, which saw the Dow Jones fall 0.4 per cent, the S&P 500 drop 0.2 per cent, and the Nasdaq edge 0.1 per cent lower.

AUD: The Australian dollar is trading at 0.7735 to the US dollar as at 7.40am this morning.

Oil: Energy producers will be on watch after oil prices softened. According to Bloomberg, the WTI crude oil price is down 0.5 per cent to US$69.71 a barrel and the Brent crude oil price has fallen 0.3 per cent to US$72.00 a barrel. Weaker than anticipated fuel demand in the US weighed on prices.

Gold: According to CNBC, the spot gold price is down 0.15 per cent to US$1,891.50 an ounce. Traders appear nervous ahead of tonight’s US inflation data release.

Iron ore: Iron ore prices continue to rise. According to Metal Bulletin, the steel making ingredient has extended its recent gains and was up a further 1.5 per cent to US$212.67 a tonne overnight.

Cryptocurrency: Bitcoin, Dogecoin surge higher amid talk of a market rebound following a sharp selloff across the board last week.

Trade war: The EU has threatened to launch a trade war against Britain if it fails to implement checks on goods entering Northern Ireland under the terms of the Brexit "divorce" settlement. After talks in London ended without a breakthrough on Wednesday, European Commission vice-president Maros Sefcovic said patience with the UK was wearing "very, very thin". 

COVID-19: Australia risks being a 'sitting duck' for coronavirus and the flu when international borders open unless there is major surgery on public hospitals. That's the stark warning the Australian Medical Association has issued to the federal government ahead of a predicted gradual return to overseas travel mid-next year.

Investing tips: Many Aussies decided to start investing last year after collecting spare cash usually spent on travel and entertainment. But if you’re yet to jump on the investing train, here are helpful tips to get started.

Have a great day.

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