Market Updates 07/05/2018

ASX is set for a positive start on Monday’s trading session with SPI up by more than 30 points on the back of strong trading session in the US. Dow Jones up by 1.4%, S & P up by 1.3% & Nasdaq up by 1.7%.

Tech shares led the way with Apple surging to a record high, Facebook gained 1.5% and Amazon gained 0.6%.

AUDUSD is trading US $0.7531 cents on the back of a strong USD. Gold has also traded strongly up 0.2% at US $1,315 per ounce. Iron Ore is down 0.9% at US $66.28 a tonne.

Local investors will be focusing on the retail sales and budget figures due out tomorrow.

DATA RELEASES THIS WEEK:

Tuesday:

AUD – Retail Sales & Annual Budget Release

NZD – Inflation Expectation q/q

USD – Fed Chair Powell Speaks

Wednesday:

USD – PPI m/m

Thursday:

USD – Crude Oil Inventories

NZD – RBNZ Monetary Policy Statement, RBNZ Rate Statement & RBNZ Press Conference

GBP – Manufacturing Production m/m, MPC Official Bank Rate Votes, Monetary Policy Summary & Official Bank Rate

USD – CPI m/m & Core CPI m/m

Friday:

CAD – Employment Change & Unemployment Rate

EUR – ECB President Draghi Speaks

 

Andrew Law

General Manager

+61 411 625 998

Posted in Foreign Exchange News.