ASX is expecting for a sell off this morning on the back deepening economic crisis in Turkey with risk aversion surges across global markets in both equities and currencies.
On the closed of Friday, Dow Jones was down 0.8%, S & P down 0.7% & Nasdaq down 0.7%. In Europe, FTSE was down 1%, CAC down 1.6% & DAX closed down 2%.
AUDUSD wiped out 18 months of gains, failing over 1.25% to a level not seen since early January 2017 to trade at US 72.73 cents. As investors seek to buy back into the safe haven currencies in USD, however the YEN outperformed the USD as a safe haven. EURUSD lost 1.2% in last week’s trading after it broke 1.14 barrier.
Please contact one of our specialist for further information regarding any trading opportunities.
DATA RELEASES THIS WEEK:
AUD – NAB Business Confidence
GBP – Average Earnings Index 3m/y
AUD – Wage Price Index q/q
GBP – CPI y/y
USD – Core Retail Sales m/m & Retail Sales m/m
USD – Crude Oil Inventories
AUD – Employment Change & Unemployment Rate
GBP – Retail Sales m/m
AUD – RBA Gov Lowe Speaks
CAD – CPI m/m
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