Market Updates 5/2/2018

ASX is set for an early selloff this Monday morning following Wall Street triggered by expectations that the Federal Reserve will accelerate its pace of interest rate hikes this year. An unexpected 2.9% increase in inflation in US wages as reported in the January payroll report. On Friday we saw the result of the US Non-farm Employment rosed to 200,000 while the market was only expecting an increase of 181,000 jobs created. AUDUSD traded lower at the US $0.7911 cents on the back of a stronger USD.

 

Investors will be looking for further direction from the Retail Sales numbers due out in Australia on Tuesday and on the Cash Rate, the market is expecting the RBA to put interest rate on hold.

 

DATA RELEASES THIS WEEK:

Monday:

GBP – Services PMI

 

Tuesday:

USD – ISM Non-Manufacturing PMI

EUR – ECB President Draghi Speaks

AUD – Retail Sales, Cash Rate & RBA Rate Statement

CAD – Trade Balance

 

Wednesday:

NZD – Employment Change q/q & Unemployment Rate

 

Thursday:

USD – Crude Oil Inventories

NZD – Official Cash Rate, RBNZ Monetary Policy Statement & RBNZ Rate Statement

AUD – RBA Gov Lowe Speaks

GBP  BOE Inflation Report, MPC Official Bank Rate Votes, Monetary Policy Summary & Official Bank Rate

 

Friday:

AUD – RBA Monetary Policy Statement

GBP – Manufacturing Production m/m

CAD – Employment Change & Unemployment Rate

 

Andrew Law

General Manager

+61 411 625 998

Posted in 外汇新闻.