Market Updates 21/05/2018

ASX is pointing for a lower opening with SPI currently down 30 points to 6066 on the back of weakness on Wall Street Friday with Dow Jones flat, S & P down 0.3% and Nasdaq down 0.4%.

The trade talks between US and China has weighted into the US corporate results with investors to pause on further investments. Further concerns between talks with Iran and North Korean with further new sanctions and impact on Iranian oil output and threats on North Korean leader Kim Jong Un calling off his summit talks with President Donald Trump.

AUDUSD remain steady trading at US $0.7527 cents with Gold up by 0.1% trading at US $1,292.60 per ounce. Investors will be looking for directions from talks with US Central Bank Chef Powell & BOE Gov Carney this week.

DATA RELEASES THIS WEEK:

Tuesday:

GBP – Inflation Report Hearings

Wednesday:

AUD – RBA Gov Lowe Speaks

GBP – CPI y/y

Thursday:

USD – Crude Oil Inventories & FOMC Meeting Minutes

GBP – Retail Sales m/m

EUR – ECB Monetary Policy Meeting Accounts

Friday:

GBP – BOE Gov Carney Speaks & Second Estimate GDP q/q

USD – Core Durable Goods Orders m/m & Fed Chair Powell Speaks

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Posted in Foreign Exchange News.