Despite rallying over much of last week, S&P/ASX 200 futures are tilting lower ahead of Israel’s anticipated ground invasion of Gaza.
and accompanying warnings from Iranian diplomats setting the stage for the ASX to slide and follow global shares into the red at the return of trading on Monday.
Barclays analysts led by Christian Keller remarked the S&P 500 had “barely noticed”, whereas commodities markets reacted swiftly to the bloodshed.“The situation in Israel and the border region remains in flux,” Mr Keller said. “This may not be markets’ final assessment of the conflict as investors will carefully follow how it develops” and comments from Iran and Hezbollah “suggest a higher risk of a second front in the war”.
However, Commonwealth Bank economist Harry Ottley observed the statement from the new RBA governor was extremely similar to her predecessor’s September iteration.“As such, the minutes should be a low‑key affair with new information likely to be at a premium. The November meeting, however, is shaping up to be much more interesting,” he said.
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