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ASX set to fall as most in-demand suburbs revealed

·2-min read
Aerial view of a suburb and the ASX board.
The local market is expected to fall this morning as Australia's most dought after suburns have been revealed. (Source: Getty)

Good morning.

ASX: The local market is expected to fall at the open after US stocks turned choppy overnight.

This comes after the Australian market had its biggest gain in more than two months yesterday as a broad-based rally helped the indices higher.

Wall St: US stocks struggled for direction overnight in volatile trading as the fast-spreading Omicron variant kept bigger bets in check.

Positive news from Pfizer about its vaccine’s ability to tackle the new variant was welcomed by investors.

BTC: Bitcoin sat relatively flat overnight after Treasurer Josh Frydenberg announced sweeping changes to cryptocurrency regulation in Australia.

Frydenberg said a Reserve Bank digital currency was on the cards. The Treasurer also said he would begin talks on a licensing framework for digital currency exchanges that would regulate the purchase and sale of cryptocurrency assets.

Property pulse: A new report has revealed which suburbs overseas investors are most interested in.

Domain released it’s yearly property report, which also examined which suburbs were the most sought after in each state this year.

First home buyers: ​​The Morrison Government is aiming to assist more than 4,600 Aussies to buy their first home under its home guarantee scheme.

Under the scheme, the Government would reissue up to 4,651 unused guarantees for first home buyers who didn’t have the opportunity to purchase their first home - including because of COVID disruptions.

Positive outlook: Reserve Bank governor Philip Lowe is set to talk at the Payments Summit today where he is expected to touch on monetary policy.

Lowe has said the emergence of the Omicron coronavirus strain, while a source of uncertainty, was not expected to derail the economy.

Mozzie season: Get out the bug spray because it’s going to be a bumper season for mosquitos.

The La Nina weather pattern is bringing a wetter-than-average summer. That, combined with warm weather, means ideal breeding conditions.

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