Market Updates 9/4/2018

ASX is set for another early selloff this morning with SPI down 33 points following another bad night on Wall Street with the Dow Jones down 2.3%, S & P down 2.2% and Nasdaq down 2.3%.

Investors around the world is bracing for more potential volatility after a freeze in negotiation between Trump administration and China over an escalating trade conflict.  AUDUSD is currently trading at US $0.7676 cents slightly up from Friday’s low. Gold is also trading slightly higher at US $1,332 per ounce while Iron Ore is flat trading at US $63.57 a tonne.

DATA RELEASES THIS WEEK:

Tuesday:

CAD – BOC Business Outlook Survey

USD – PPI m/m

Wednesday:

AUD – RBA Gov Lowe Speaks

GBP- Manufacturing Production m/m

EUR – ECB President Draghi Speaks

USD – CPI m/m & Core CPI m/m

Thursday:

USD – Crude Oil Inventories & FOMC Meeting Minutes

JPY – BOJ Gov Kuroda Speaks

EUR – ECB Monetary Policy Meeting Accounts

Friday:

GBP – BOE Gov Carney Speaks

Andrew Law

General Manager

0411 625 998

Posted in Foreign Exchange News.