Market Updates 26/03/2018

ASX has opening Monday trading session lower down by 0.69% at 5,780 on the back of a selloff in US on Friday with Dow Jones down 1.8%, S & P down 2.1% and Nasdaq down 2.4%. The selloff is sparked by the US & China imposing tariffs on both country’s imports exports.  On Friday, China has agreed to some relieve and ask that the US arrange a meeting before things are out of control. Due to lack of data releases this week, Investors can only watch what’s transpired this week between US & China.

AUDUSD has regained some loses from last week currently trading at US 0.771 cents. While Iron Core lost 3.9% at $US 64.58 a tonne. Gold has traded strongly on the back of weaker equities markets.

DATA RELEASES THIS WEEK:

Wednesday:

USD – CB Consumer Confidence & Final GDP q/q

NZD – ANZ Business Confidence

Thursday:

USD – Crude Oil Inventories

GBP – Current Account

CAD – GDP m/m

 

Friday:

Good Friday holiday

 

Andrew Law

General Manager

0411 625 998

Posted in Foreign Exchange News.