Local shares have opened up higher on the back of strong trading session in the US on Friday with DOW up 1.4%, S & P 500 up 1.6% & Nasdaq up by 1.8%.
Iron ore has also increased trading at US$78.82 a tonne but AUDUSD didn’t follow suits backup by a stronger USD currently trading around the US $0.7840 cents. Investors will be looking for further directions in the US when Federal Reserve head Jerome Powell speaks this week, especially in relations to the extent of further interest rates rise.
DATA RELEASES FOR THIS WEEK:
EUR – ECB President Draghi Speak
USD – Core Durable Goods Orders m/m, Fed Chair Powell Testifies
USD – CB Consumer Confidence
NZD – ANZ Business Confidence
USD – Crude Oil Inventories
AUD – Private Capital Expenditure q/q
GBP – Manufacturing PMI
USD – Fed Chair Powell Testifies, ISM Manufacturing PMI
GBP – Prime Minster May Speaks, Construction PMI & BOE Gov Carney Speaks
CAD – GDP m/m
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