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ASX to fall while Aussie exports expected to hit $379 billion

·2-min read
A shipping container ship and the ASX board showing price changes.
The local market is expected to open lower this morning. (Source: Getty)

Good morning.

ASX: The local market is expected to fall at the open after Wall Street ended the week in the red.

This comes after a probe into buy now, pay later providers crushed their share prices on the ASX last week, while central banks tightening policy complicated the global outlook.

Wall St: Wall Street finished the week lower, weighed down by big tech, as investors worried about the Omicron COVID variant and digested the Federal Reserve's decision to end its pandemic-era stimulus sooner.

BTC: Bitcoin is sitting flat this morning as it holds just above the US$45,000 mark.

This comes as US Federal Reserve chair Jerome Powell said he could see a future for some cryptocurrencies. Watch the video below.

Record exports: Australian energy and resource exports are forecast to reach record levels this financial year, driven by high commodity prices and a weaker Australian dollar.

Despite the impacts to the economy of COVID-19, the latest outlook for the December quarter predicts exports will reach $379 billion during 2021/22.

Cash injection: The Federal Government is spending another $78 million to help Australia's aviation sector recover from the COVID-19 pandemic.

Deputy Prime Minister Barnaby Joyce has unveiled an aviation recovery framework aimed at rebuilding the workforce and upgrading regional infrastructure.

‘Silent victim’: The seafood industry was a surprise victim of the horrific Black Summer bushfire disaster.

But as Australians prepare for a Christmas seafood feast, the Government has announced it has entered a partnership with a not-for-profit environmental company in a bid to increase the resilience of aquatic ecosystems ahead of future bushfires and other natural disasters.

Warm and dry: Many Australians will receive the greatest gift of all this Christmas Day - good weather.

The Bureau of Meteorology has released its first official Christmas Day forecast and it's promising warm and dry weather for much of the country.

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