Market Updates 7/8/2017

AUDUSD continued to trade higher after a sell off on Friday buoyed by better than expected non-farm payroll data released. There were additional jobs creations in July rose to 209k while the market was expected only 183k.

 

In overseas markets – the Dow Jones ended at its 8th straight record high with gains in banks’ stocks.

 

DATA RELEASES THIS WEEK:

 

Monday:

NZD – Inflation Expectations q/q

 

Tuesday:

AUD – NAB Business Confidence

CHF – Unemployment Rate

 

Wednesday:

CNY – CPI y/y & PPI y/y

 

Thursday:

USD – Crude Oil Inventories

NZD – Official Cash Rate, RNBZ Rate Statement & RBNZ Press Confidence

GBP – Manufacturing Production m/m

USD – PPI m/m, Unemployment Claims

 

Friday:

USD – CPI m/m & Core CPI m/m

Andrew Law
General Manager
m: 0411 625 998

Market Updates 31/07/2017

In local markets, investors are looking at the reporting seasons in Australia with over 150 companies reporting on their results for 2017.  Focus has also been in Iron ore with Goldman Sachs boosted their forecast for the next 3 months to US $70  a tonne. The large investment banker is also calling the top of AUD rally, selling the currency on Friday after it jumped to a 2 year high trading over US $80 cent on Thursday’strading session before a sell-off.

 

Global investors will be focusing on our RBA meeting tomorrow and Non-farm employment numbers on due out Friday in US.

 

DATA RELEASES THIS WEEK:

 

MONDAY:

CNY – Manufacturing PMI & Non-Manufacturing PMI

 

TUESDAY:

AUD – RBA Rate Statement

GBP – Manufacturing PMI

 

WEDNESDAY:

NZD – Employment Change & Unemployment Rate

GBP – Construction PMI

USD – ADP Non-Farm Employment Change

 

THURSDAY:

USD – Crude Oil Inventories

AUD – Trade Balance

GBP – Service PMI, BOE Inflation Report, MPC Official Bank Rate Votes, Monetary Policy Summary & Official Bank Rate

 

FRIDAY:

AUD – RBA Monetary Policy Statement & Retail Sales m/m

USD – ISM Non-Manufacturing PMI, Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate

CAD – Employment Change & Trade Balance

Andrew Law
General Manager
m: 0411 625 998

 

Market Updates 17 July 2017

AUDUSD continued to strengthen and traded as high as 1.3% on late Friday, topping above US $0.78 cent for the first time since May 2015. The push was triggered by a weaker than expected economic data and Feds hinted an unlikely third US interest rate hike later this year.

 

Investors will be looking at GDP result due out today from China & Unemployment numbers from US and from a local focus Unemployment numbers due out in Australia on Thursday.

 

DATA RELEASES THIS WEEK:

 

Monday:

CNY – GDP q/y & Industrial Production y/y

 

Tuesday:

AUD – Monetary Policy Meeting Minutes

NZD – CPI q/q

 

Wednesday:

GBP – BOE Gov Carney Speaks

USD – Building Permits

 

Thursday:

AUD – Employment Change & Unemployment Rate

JPY – Monetary Policy Statement, BOJ Outlook Report & BOJ Policy Report

GBP – Retail Sales m/m

EUR – ECB Press Confidence & Minimum Bid Rate

USD – Unemployment Claims

 

Friday:

CAD – CPI m/m & Core Retail Sales m/m

 

For further information please contact;

 

Andrew Law

General Manager

0411 625 998

Market Updates – 10/07/2017

The markets look to start with a positive view with strong gains on Friday after employment data in the US showed strong jobs growth on the back of non-farm payroll added 222k new jobs. Investors are looking for further directions in the local markets with Business Confidence and Consumer Confidence due out this week and globally at Chairwoman Yellen on Thursday evening local time.

 

AUDUSD is also trading a higher from last week’s low currently seating just above USD $0.75 cents, Gold is slightly down trading just above USD $1,213.15 per ounce while Iron Ore continues to strengthen trading above USD $62.80 a ton.

 

DATA RELEASE FOR THIS WEEK:

 

MONDAY:

CNY – CPY y/y

 

TUESDAY:

AUD – NAB Business Confidence

 

WEDNESDAY:

AUD – Westpac Consumer Confidence

GBP – Average Earnings Index 3m/y

 

THURSDAY:

CAD – BOC Monetary Policy Report, BOC Rate Statement & Overnight Rate

USD – Fed Chair Yellen Testifies, Crude Oil Inventories, PPI m/m, Unemployment Claims

 

FRIDAY:

USD – CPI m/m, Core CPI & Retail Sales

 

Andrew Law

General Manager

0411 625 998

Market Updates 3/7/2017

AUDUSD is trading higher taking advantage of the weaker USD, as investors looking at other central banks potentially increasing rates from Eurozone, UK, Canada and NZ. Speculators are also looking to profit from the surging Euro, Pound & CAD all up around 2% against USD. Focus will be on the PMI data due out in China today, follow by PMI in US and further massive night in trading on Friday when the US releases its Non-farm payroll and unemployment rate.

DATA RELEASES THIS WEEK:

Monday:

CNY – Caixin Manufacturing PMI
GBP – Manufacturing PMI & BOE Gov Carney Speaks

Tuesday:

USD – ISM Manufacturing PMI

AUD – Retail Sales m/m & RBA Rate Statement

GBP – Construction PMI

Wednesday:

EUR – Services PMI

Thursday:

USD – FOMC Meeting Minutes, ADP Non-Farm Employment Change, Unemployment Claims

AUD – Trade Balance

CAD – Trade Balance

Friday:

USD – ISM Non-Manufacturing PMI & Crude Oil Inventories, Non-Farm Employment Change, Unemployment Rate & Average Hourly Earnings m/m

GBP – Manufacturing Production m/m & BOE Gov Carney Speaks

 

Andrew Law

General Manager

0411 625 998

Market Updates 26/06/2017

Australia Stock Markets are shaping for a positive start following solid gains in US as crude oil steadies after a three-day slide last week.   AUDUSD also started strongly currently trading around US$0.7569.
DATA RELEASE THIS WEEK:
Monday:
USD – Core Durable Goods Orders m/m
Tuesday:
EUR – ECB President Draghi Speaks
GBP – BOE Financial Stability Report & BOE Gov Carney Speaks
Wednesday:
USD – CB Consumer Confidence & Fed Chair Yellen Speaks
CAD – BOC Gov Poloz Speaks
EUR – ECB President Drangi Speaks
JPY – BOJ Gov Kuroda Speaks
Thursday:
USD – Crude Oil Inventories, Unemployment Claims & Final GDP q/q
Friday:
CAD – GDP m/m
Andrew Law
General Manager
m: 0411 625 998

Market Updates 19/06/2017

AUD hit a 2 month high last week and it continuing to trade higher against USD on the back of positive local jobs data and a weaker than expected US inflation data and an interest rise in the US. Currently trading above US$0.76 cents with investors watching the unemployment figures due out on Thursday in US.
DATA RELEASES FOR THIS WEEK:
Monday:
AUD – RBA Gov Lowe Speaks
Tuesday:
AUD – Monetary Policy Meeting Minutes
CHF – SNB Chairman Jordan Speaks
GBP – BOE Gov Carney Speaks
Thursday:
USD – Crude Oil Inventories
NZD – RBNZ Rate Statement & Official Cash Rate
CAD – Core Retail Sales m/m
USD – Unemployment Claims
Friday:
CAD – CPI m/m
 
Andrew Law
General Manager
m: 0411 625 998

Market Updates 5/6/2017

USD dropped to its lowest since the US presidential election in November 2016 after the US employment report missed both analyst forecast in May.
USD fell against nine of its G-10 peers with AUD advanced 0.9% to US74.43 cents before coming back down to now trading around US74.26 cents.  AUD also rebounded more than 3%  against the spot price of iron ore. All focus will be on Thursday with the election in England and on the local front, investors will be looking at the Trade balance in both Australia & China.
DATA RELEASES FOR THIS WEEK:
Monday:
GBP – Services PMI
Tuesday:
USD – ISM Non-Manufacturing PMI
AUD – Cash Rate & RBA Rate Statement
Wednesday:
AUD – GDP q/q
Thursday:
AUD – Trade Balance
CNY – Trade Balance
GBP – Parliamentary Elections
EUR – Minimum Bid Rate & ECB Press Conference
USD – Unemployment Claims
Friday:
CAD – BOC Gov Poloz Speaks, Employment Change & Unemployment Rate
GBP – Manufacturing Production m/m
Andrew Law
General Manager
m: 0411 625 998

Market Updates 22/05/2017

Bitcoin reached $1,900 thanks to a rush of investment from Asia, but that did not stay a record for long. BTCUSD is now trading a historic level of above $2,070 per bitcoin giving its entire market cap of about $34 billion.
Local shares are expected to open higher to start this week rebounding from Friday’s losses triggered by renewed interest in oil, gold, iron ore and base mentals. Spot price of iron ore traded 1.8% to US$62.69 a tonne on Friday and Chinese steel futures rallied. Crude Oil also traded higher above US$50, its highest in a month.
Last week our jobless rate fell to 5.7% close to a 4 year low from 5.9% with employers added 106,000 jobs over the first 4 months of 2017. That pushed up AUDUSD from 72.26 cents to as high as 74.67 cents before retreating to current trading level of 74.43 cents.
DATA RELEASE THIS WEEK:
MONDAY:
EUR – Euro Group Meetings
TUESDAY:
GBP – Prime Minister May Speaks, Inflation Report Hearings
EUR – German Ifo Business Climate
THURSDAY:
CAD – BOC Rate Statement & Overnight Rate
USD – Crude Oil Inventories, FOMC Meeting Minutes, Unemployment Claims
NZD – Annual Budget Release
FRIDAY:
USD – Core Durable Good Orders m/m & Prelim GDP q/q
Andrew Law
General Manager
m: 0411 625 998