ASX is pointing for a positive start to Monday’s trading session with SPI currently up 23 points at 6171. This is on the back of a stronger end to Wall Street and European’s markets with Dow Jones up 0.2%, S & P up 0.1% and Nasdaq up o,1%. In Europe, FTSE up 0.3%, CAC up 0.9% & DAX up 1.1%.
AUDUSD traded higher on Friday currently trading US $0.7404 cents on the back of the lower US dollar across most major currencies. Gold was also trading higher up 0.4% at US $1,253.17. Iron Ore traded higher up by 0.9% US $65.02 a tonne. Ending the trading higher across most sectors.
There are few majors data releases this week, with GBP PMI due out today, ISM PMI due out in US on Tuesday and in Australia RBA rate announcement with the market expecting no movement from RBA chef. Australia Retail Sales is due out Wednesday with expectation only a 0.3% in the month of June, Trade Balance numbers to be 1.21 billion.
In the US, ADP Non-farm number is due out on Thursday that should give investors some indication to the Non-Farm payroll number on Friday with market expecting 200,000 jobs created in June and Unemployment rate will remain steady at 3.8%. Please contact our offices for further information.
DATA RELEASES THIS WEEK:
GBP – Manufacturing PMI
USD – ISM Manufacturing PMI
AUD – RBA Rate Statement
GBP – Construction PMI
AUD – Retail Sales & Trade Balance
GBP – Services PMI
GBP – BOE Gov Carney Speaks
USD – ADP Non-Farm Employment Change
CAD – Employment Change, Trade Balance, Unemployment Rate
ISM Non-Manufacturing PMO, Crude Oil Inventories, FOMX Meeting Minutes, Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate
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