Australia Stock Market (ASX) pointing to a negative start on Monday, with the local banks weighing in due to Royal Commission Inquiry into the financial sector starting today. On Friday session, the Dow swung through a wide 1,000 points range with another turbulent day before closing up 1.4%.
AUDUSD also plunged towards US 0.77cents on Friday before recouping some gains now trading at US 0.7815 cents. AUD is pressured by talks of global interest rates rise while Australia RBA is holding on any indication of an interest rate rise during the first half of 2018. Oil prices also tumbled with Brent shedding 1.8% and Crude down 2.8% on the back of increased output in the US.
Investors will be looking for the US retails sales number due out on Wednesday and in Australia, our employment rate on Thursday.
DATA RELEASES THIS WEEK:
AUD – RBA Assist Gov Ellis Speaks
GBP – CPI y/y
AUD – Westpac Consumer Sentiment
NZD – Inflation Expectations q/q
USD – CPI m/m, Core CPI m/m, Core Retail Sales m/m & Retail Sales m/m
USD – Crude Oil Inventories, PPI m/m
AUD – Employment Change & Unemployment Rate
NZD – Business NZ Manufacturing Index
AUD – RBA Gove Lowe Speaks
GBP – Retail Sales m/m
USD – Building Permit