Market Updates 3/4/2018

SPI is flat but ASX is expected to follow the massive selloff in US with Dow Jones down 2%, S & P 500 down 2.9% and Nasdaq down 2.7%. The massive selloff on Wall Street has continued following President Donald Trump’s assault on the imposed tariffs on China and his intension to target Tech companies such as Amazon, Google, Apple & Google.

AUDUSD has steady after another selloff currently trading US $0.7657 cents. Gold traded higher gaining 1.2% and also Iron Ore up 1.2%.

RBA is due to meet today with the market is expecting another hold with interest rate unchanged.  Global investors will be watching for another good results from the US on Non-farm payroll numbers due out Friday. The market is expecting another increase with over 20,000 jobs created for the month of March, while unemployment rate expected to be steady at 5.8%.

DATA RELEASES THIS WEEK:

Tuesday:

AUD – ANZ Job Advertisements m/m, RBA Rate Statement & Cash Rate

GBP – Manufacturing PMI

Wednesday:

AUD – Retail Sales

GBP – Construction PMI

USD – ADP Non-Farm Employment Change, ISM Non-Manufacturing PMI & Crude Oil Inventories

Thursday:

AUD – Trade Balance

GBP – Service PMI

CAD – Trade Balance

Friday:

CAD – Employment Change & Unemployment Rate

USD – Average Hourly Earnings m/m, Non-Farm Employment Change , Unemployment Rate & Fed Chair Powell Speaks

GBP – BOE Gov Carney Speaks

Andrew Law

General Manager

0411 625 998

Posted in Uncategorised.