Market Updates 17/9/2018

ASX is expected to start with a positive trading session on Monday with SPI currently up by 6 points at 6180 but this could be short live with renewed US & China trade worries. US markets opened higher on Friday before dropping sharply on news that President Trump directed his advisers to proceed with plans to impose on another $200 billion of Chinese goods. As a result, Dow Jones closed flat, S & P also closed flat with Nasdaq closed down 0.1%. In Europe, FTSE closed up 0.3%, CAC up 0.5% & DAX closed up 0.6%.

In the commodities market, Gold closed lower at US $1194.85 & Iron Ore lost 0.8% to closed at US $67.68 a tonne. In the local currencies, AUDUSD lost 0.6% to US $0.7153 cents. With little data releases this week, investors can only focus on the tension between US & China trade war and the outlook on Europe when President Draghi speaks on Tuesday local time. For further information please  contact one of our specialists for any trading opportunities.

For further trading opportunities please contact of our Specialists for further details.

 

DATA RELEASES THIS WEEK:

Tuesday:

AUDUSD – Monetary Policy Meeting Minutes

EUR – ECB President Draghi Speaks

Wednesday:

JPY – Monetary Policy Statement

GBP – CPY y/y

Thursday:

USD – Crude Oil Inventories

NZD – GDP q/q

CHK – SNB Monetary Policy Assessment

GBP – Retail Sales m/m

Friday:

CAD – CPY m/m & Core Retail Sales m/m

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Posted in Foreign Exchange News.