Approaching that 103 level. That would be a breach of a technical and psychological level. . 99, 2. 7 top the upside. After the biden victory, gold as well seeing three straight gains three Straight Days of gains. Joe biden preparing to take office as the 46th president of the United States. He is moving forward as president elect, launching his transition effort and readying a plan to tackle coronavirus. President trump is refusing to concede, weighing more legal challenges. The people of this nation have spoken. [applause] they have delivered a clear victory, commencing victory. A victory for we the people. I pledge to be a president who seeks not to divide, but unify. [applause] who does not the red states and blue states, only sees the United States. Our work begins with getting covid under control. Economy, repair the restore our vitality, or relish lifes most precious moments, hugging grandchildren, children, birthdays, weddings, graduations, all the moments that matter most to u
To the upside. Other news coming through about approvals for future houses as well. The asx up 119 points. Thats move along and look at other Asset Classes. Crude trading yesterday with a 33 handle, hasnt had a huge rally since then. Part of that is down to russia and opec looking like they will not be hiking reduction in january. That news helping to propel oil prices up to over 97 in the last six hours or so. ,old remaining where it was just shy of the 1900 level. Thats ahead of the u. S. Election. The u. S. Dollar index marginally down, the Rate Decision coming expecting a 0. 15 cut in the base rate and we do have in anticipation of all that move slightly higher than that, and thats down to a commodity related currency and the crude price helping that along. Lets head over to new york and join karina mitchell. We start with the latest headlines on the pandemic. Starling fell to its weakest in the month, with an economy already reeling from similar measures earlier this year. France
Three virus levels. Investors are not buying the idea that the sectors prices have finally passed. The Company Behind k pop sensation bts prepares to take the stage in seoul. Big hit hopes to be a big hit on the korean stock exchange. Paul markets are just opened here in sydney. For a look at whats going on, lets go to sophie. Sophie sydney stocks gain ground. 1 , resuming the advanced after stalling and to retreat from a march i on wednesday. We have the likes of bhp and providing a boost while banks are under pressure and focus is on the rba governors speech in which he signaled the desire for more state funding while indicating that there will be a lower for longer rate environment, likely to see further easing ports 10 basis points, also indicating there will not be rate hikes for at least three years unless there is more sustained progress on jobs and inflation. Those remarks did see pressure come through on the aussie dollar, seeing an earlier push. Flipping the board to check in
Services. Westpacs full year profits plunge after fines for Money Laundering. Cash earnings falls. One of those stocks where watching going into the sydney open. Lets look at the market open. Sophie . Expecting some moves this monday. The biggest weekly drop since september 25 as investors adjust the some of the risk ahead. We did have the worst week for aussie stocks since april. Adding 0. 1 . We have amp shares gaining trillionter the this wealth manager said that a preliminary takeover approach of every management values the company at 4. 5 billion. Westpac has results out this morning. Later this week we get results upm alibaba which ticked single day sales early on sunday. The ipo is a big event we are watching this week. We are expecting a big pop here on thursday given the massive appetite we have seen for the offering. Friday had the biggest drop since june. Of a private survey of chinese manufacturing data. To focus more on the u. N. , lets pull up on the chart on the terminal
Finalizing a blank check operation around the frenzy. Haidi trying to take that winning streak into a seventh straight session. Retrading pretty optimistically. We are seeing gains about. 25 when it comes out the gate. The aussie dollar trading on the back. We are seeing gains for almost two weeks straight now ahead of the federal election. At kiwi dollar is sitting 37. We are seeing almost no change through the open. Have nikkei futures not doing much at the moment. Is at a oneweek high the u. S. Dollar dollar. 15 on year. E than from those that we saw in session. Operations restarting. Speak, theng, as we morning training trading has been lead due to the storm. We are talking about the Tropical Storm being upgraded to a storm signal eight. Options have been delayed. They will make a further later, but there will be no morning a warning isuch lowered. Dominating across the markets. Lets turn to tom mackenzie. We have been talking about trade tensions when it comes to australia. Haidi