SPI was pointed to a positive start of Monday trading session but when the market opened ASX 200 is now trading lower triggered by Retail Food Group slumps, following a mixed trading session in the US on Friday. Dow Jones lost .03% while S & P up 0.5% and Nasdaq up by 1.1%.
The US Federal Reserve has stepped up the pace of monetary tightening and President Donald Trump’s comments that the US would impose further tariffs on steel and aluminum imports.
AUDUSD is currently trading around US $0.7757 cents trapped around the 0.7740 cents to 0.7780 marks. Local investors will be paying close attention to a speech by governor Philip Lowe at the AFR Business Summit on Wednesday for his view on investment trends and Trade Balance numbers due out on Thursday. Global investors will be focusing on the Non-farm payroll numbers due out in the US on Friday.
DATA RELEASES THIS WEEK:
AUD – MI Inflation Gauge m/m
GBP – Services PMI
USD – ISM Non-Manufacturing PMI
AUD – Current Account, Retail Sales m/m, Cash Rate Statement & RBA Rate Statement
AUD – RBA Gov Lowe Speaks, GDP q/q
GBP – MPC Member Haldane Speaks
USD – ADP Non-Farm Employment Change
CAD – Trade Balance
CAD – BOC Rate Statement & Overnight Rate
USD – Crude Oil Inventories
AUD – Trade Balance
EUR – Minimum Bid Rate & ECB Press Conference
CAD – BOC Gov Poloz Speaks
JPY – BOJ Policy Rate, Monetary Policy Statement & BOJ Press Conference
GBP – Manufacturing Production m/m
CAD – Employment Change & Unemployment Rate
USD – Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate