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