Inflation & interest rates have bottomed

 The Reserve Bank has left the cash rate at a record low of 1.50 per cent. 

The Reserve Bank has left its “neutral stance” in place and noted that inflation will pick up gradually from here.

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Bank).  The Bank and its subsidiaries

have effected or may effect transactions for their own account in any

investments or related investments referred to in this report. This report is

not a recommendation to buy, sell or hold any securities or financial products,

and has been prepared without taking account of the objectives, financial or

taxation situation or needs of any particular individual.  For this reason, any individual should,

before acting on the information in this report, consider the appropriateness

of the information, having regard to the individual's objectives, financial or

taxation situation and needs and, if necessary, seek appropriate professional

advice.  This report is produced by

Commonwealth Research based on information available at the time of publishing.  We believe that the information in this

correspondence is correct and any opinions, conclusions or recommendations are

reasonably held or made as at the time of its compilation, but no warranty is

made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the

Bank nor any of its subsidiaries accept liability to any person for loss or

damage arising from the use of this report.

Slow start for the Australian markets ahead of the Reserve Bank decision on rates and the running of the Melbourne Cup.  The U.S. markets closed slightly weaker and the fall in oil also impacting stocks in morning trade. 

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This report isapproved and distributed in Australia by Commonwealth Securities Limited ABN 60067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiaryof Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effectedor may effect transactions for their own account in any investments or relatedinvestments referred to in this report. This report is not a recommendation tobuy, sell or hold any securities or financial products, and has been preparedwithout taking account of the objectives, financial or taxation situation orneeds of any particular individual.  Forthis reason, any individual should, before acting on the information in thisreport, consider the appropriateness of the information, having regard to theindividual's objectives, financial or taxation situation and needs and, ifnecessary, seek appropriate professional advice.  This report is produced by CommonwealthResearch based on information available at the time of publishing.  We believe that the information in thiscorrespondence is correct and any opinions, conclusions or recommendations arereasonably held or made as at the time of its compilation, but no warranty ismade as to accuracy, reliability or completeness.  To the extent permitted by law, neither theBank nor any of its subsidiaries accept liability to any person for loss ordamage arising from the use of this report.

US sharemarkets fell on Tuesday with election uncertainty leading to a lift in volatility. The so-called "fear gauge" or the CBOE volatility index (Vix) rose by 8.7% to 18.55. Investors awaited the Federal Reserve interest rate decision. The expectation of higher interest rates weighed on the utilities sector. And data showing weaker construction spending weighed on building stocks. The Dow Jones index ended lower by 105 points or 0.6% after being down 202 points. The SP 500 index fell by 0.7% and the Nasdaq fell by 35.5 points or 0.7%.

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approved and distributed in Australia by Commonwealth Securities Limited ABN 60

067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary

of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the

Bank).  The Bank and its subsidiaries

have effected or may effect transactions for their own account in any

investments or related investments referred to in this report. This report is

not a recommendation to buy, sell or hold any securities or financial products,

and has been prepared without taking account of the objectives, financial or

taxation situation or needs of any particular individual.  For this reason, any individual should,

before acting on the information in this report, consider the appropriateness

of the information, having regard to the individual's objectives, financial or

taxation situation and needs and, if necessary, seek appropriate professional

advice.  This report is produced by

Commonwealth Research based on information available at the time of publishing.  We believe that the information in this

correspondence is correct and any opinions, conclusions or recommendations are

reasonably held or made as at the time of its compilation, but no warranty is

made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the

Bank nor any of its subsidiaries accept liability to any person for loss or

damage arising from the use of this report.

Slow start for the Australian markets ahead of the Reserve Bank decision on rates and the running of the Melbourne Cup.  The U.S. markets closed slightly weaker and the fall in oil also impacting stocks in morning trade. 

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Please find today’s Market Update. Feelfree to download and disseminate on your radio stations.

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This report isapproved and distributed in Australia by Commonwealth Securities Limited ABN 60067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiaryof Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effectedor may effect transactions for their own account in any investments or relatedinvestments referred to in this report. This report is not a recommendation tobuy, sell or hold any securities or financial products, and has been preparedwithout taking account of the objectives, financial or taxation situation orneeds of any particular individual.  Forthis reason, any individual should, before acting on the information in thisreport, consider the appropriateness of the information, having regard to theindividual's objectives, financial or taxation situation and needs and, ifnecessary, seek appropriate professional advice.  This report is produced by CommonwealthResearch based on information available at the time of publishing.  We believe that the information in thiscorrespondence is correct and any opinions, conclusions or recommendations arereasonably held or made as at the time of its compilation, but no warranty ismade as to accuracy, reliability or completeness.  To the extent permitted by law, neither theBank nor any of its subsidiaries accept liability to any person for loss ordamage arising from the use of this report.

Inflation interest rates have bottomed

 The Reserve Bank has left the cash rate at a record low of 1.50 per cent. 

The Reserve Bank has left its “neutral stance” in place and noted that inflation will pick up gradually from here.

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Please find today’s Market Update. Feel

free to download and disseminate on your radio stations.

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The CommSec Media Team

This report is

approved and distributed in Australia by Commonwealth Securities Limited ABN 60

067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary

of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the

Bank).  The Bank and its subsidiaries

have effected or may effect transactions for their own account in any

investments or related investments referred to in this report. This report is

not a recommendation to buy, sell or hold any securities or financial products,

and has been prepared without taking account of the objectives, financial or

taxation situation or needs of any particular individual.  For this reason, any individual should,

before acting on the information in this report, consider the appropriateness

of the information, having regard to the individual's objectives, financial or

taxation situation and needs and, if necessary, seek appropriate professional

advice.  This report is produced by

Commonwealth Research based on information available at the time of publishing.  We believe that the information in this

correspondence is correct and any opinions, conclusions or recommendations are

reasonably held or made as at the time of its compilation, but no warranty is

made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the

Bank nor any of its subsidiaries accept liability to any person for loss or

damage arising from the use of this report.

Australian shares erased most of Monday’s gains, with the ASX200 slipping by 0.5 per cent and closing below 5300pts. The ReserveBank offered no surprises in keeping rates on hold. Twobetter than expected updates on the state of China’s manufacturingindustry helped local stocks bounce off their intraday lows, whilevolume remained light on Melbourne Cup day. 

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual.  For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice.  This report is produced by Commonwealth Research based on information available at the time of publishing.  We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

US sharemarkets held in tight ranges on Monday. Shares in Nike fell 3.5% on a broker downgrade. Shares in General Electric fell by 0.4% after it said it would merge its oil and gas business with oilfield services provider Baker Hughes. Shares in Baker Hughes fell by 6.3%. The Dow Jones index ended lower by 19 points or 0.1% after trading in a 63-point range. The S&P 500 index was largely flat while the Nasdaq fell by less than 1 point or less than 0.1%.

Global oil prices fell by near 3-4% on Monday. There is on-going uncertainty whether key oil producers will reach agreement on production cuts. OPEC officials approved a document outlining their long-term strategy. But while OPEC and non-OPEC officials met to decide details on production cuts, no agreement was achieved. Brent crude fell by US$1.41 or 2.8% to US$48.30 a barrel. 

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free to download and disseminate on your radio stations.

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The CommSec Media Team

This report is

approved and distributed in Australia by Commonwealth Securities Limited ABN 60

067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary

of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effected

or may effect transactions for their own account in any investments or related

investments referred to in this report. This report is not a recommendation to

buy, sell or hold any securities or financial products, and has been prepared

without taking account of the objectives, financial or taxation situation or

needs of any particular individual.  For

this reason, any individual should, before acting on the information in this

report, consider the appropriateness of the information, having regard to the

individual's objectives, financial or taxation situation and needs and, if

necessary, seek appropriate professional advice.  This report is produced by Commonwealth

Research based on information available at the time of publishing.  We believe that the information in this

correspondence is correct and any opinions, conclusions or recommendations are

reasonably held or made as at the time of its compilation, but no warranty is

made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the

Bank nor any of its subsidiaries accept liability to any person for loss or

damage arising from the use of this report.

Market Close 31 Oct 16: Aussie Market rebound to close higher after Qantas and ANZ updates.

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This report is

approved and distributed in Australia by Commonwealth Securities Limited ABN 60

067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary

of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effected

or may effect transactions for their own account in any investments or related

investments referred to in this report. This report is not a recommendation to

buy, sell or hold any securities or financial products, and has been prepared

without taking account of the objectives, financial or taxation situation or

needs of any particular individual.  For

this reason, any individual should, before acting on the information in this

report, consider the appropriateness of the information, having regard to the

individual's objectives, financial or taxation situation and needs and, if

necessary, seek appropriate professional advice.  This report is produced by Commonwealth

Research based on information available at the time of publishing.  We believe that the information in this

correspondence is correct and any opinions, conclusions or recommendations are

reasonably held or made as at the time of its compilation, but no warranty is

made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the

Bank nor any of its subsidiaries accept liability to any person for loss or

damage arising from the use of this report.

Forecast Update: More constructive on near-term AUD outlook.

We have lifted our end-of-year AUD/USD forecast to 0.7700 from 0.7300 because of a higher Australian terms of trade

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This report is

approved and distributed in Australia by Commonwealth Securities Limited ABN 60

067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary

of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effected

or may effect transactions for their own account in any investments or related

investments referred to in this report. This report is not a recommendation to

buy, sell or hold any securities or financial products, and has been prepared

without taking account of the objectives, financial or taxation situation or

needs of any particular individual.  For

this reason, any individual should, before acting on the information in this

report, consider the appropriateness of the information, having regard to the

individual's objectives, financial or taxation situation and needs and, if

necessary, seek appropriate professional advice.  This report is produced by Commonwealth

Research based on information available at the time of publishing.  We believe that the information in this

correspondence is correct and any opinions, conclusions or recommendations are

reasonably held or made as at the time of its compilation, but no warranty is

made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the

Bank nor any of its subsidiaries accept liability to any person for loss or

damage arising from the use of this report.

The Australian market as first glance looks like it has seen low trading but the volumes and news flow has come thick and fast, ANZ selling off its  Asian Wealth unit, qantas quarterly update and miners reporting quarterly results. 

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This report is

approved and distributed in Australia by Commonwealth Securities Limited ABN 60

067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary

of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank).  The Bank and its subsidiaries have effected

or may effect transactions for their own account in any investments or related

investments referred to in this report. This report is not a recommendation to

buy, sell or hold any securities or financial products, and has been prepared

without taking account of the objectives, financial or taxation situation or

needs of any particular individual.  For

this reason, any individual should, before acting on the information in this

report, consider the appropriateness of the information, having regard to the

individual's objectives, financial or taxation situation and needs and, if

necessary, seek appropriate professional advice.  This report is produced by Commonwealth

Research based on information available at the time of publishing.  We believe that the information in this

correspondence is correct and any opinions, conclusions or recommendations are

reasonably held or made as at the time of its compilation, but no warranty is

made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the

Bank nor any of its subsidiaries accept liability to any person for loss or

damage arising from the use of this report.