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The Aussie share market is set to open lower, with the futures suggesting a fall of 0.2%.

The market is down 1.8% this week so far. Miners are down the most, while utilities and staples are up the most.

What to watch today:

• Investors are favouring utilities, staples and healthcare, amid uncertainty in the market. The market may stay this way until the outcome from the US Central Bank’s meeting on Wednesday, until investors have further clarity on China’s property sector demise, and until the roadmap out of lockdown becomes clearer.
• The iron ore price has fallen heavily, below US$100 for the first time in a year. However, overnight iron ore slightly rose 0.1% to US$93.03. BHP investors in New York took this as a sign to buy the dip. In the US, BHP shares rose almost 1%.
• The oil rice is steady at US$70.70, holding its highest level since August, while the gold price is slightly lower.
• In economic news, yesterday the RBA meeting minutes reaffirmed the RBA’s confidence that the Australian economic should see strong growth resume next year. Today, the RBA Governor and Deputy will appear at the House of Representatives at 10:15am AEST. And the RBA Assistant Governor of the Financial System will also give a speech on the housing market and financial stability at noon AEST.
• In corporate news, AGL Energy (ASX:AGL) is set to hold its AGM.
• Widgie Nickel (ASX:WIN) and X2M Connect (ASX:X2M) are new listings on the ASX.
• Abri (ASX:ABC) goes ex-dividend today and Hawkstone Mining (ASX:HWK) goes ex-bonus entitlement.

Trading Ideas:

• Citi has upgraded Champion Iron (ASX:CIA) from a HOLD to a BUY, however has slashed its 12-month price target from $7.25 to $6.40. Citi acknowledges near-term risk to iron ore price, forecasting iron ore to sit at US$125 in CY22 and hit US$80 in CY23. However, China’s lead indicators are stabilising and have turned up off recent lows. Citi says steel prices are being driven more by state imposed production cuts, than weakness in underlying demand.
• Bullish charting signals have been seen in Whitehaven Coal (ASX:WHC), Sydney Airport (ASX:SYD) and Alkane Resources (ASX:ALK), according to Trading Central