Market Updates 23/07/2018

ASX is set for a lower opening with SPI currently down 18 points at 6207. This is on the back of a negative closes to US & European markets on Friday.

Dow Jones closed down 0.1%, S & P down 0.1% & Nasdaq down 0.1%. In Europe, FSTE closed down 0.1%, CAC down 0.4% & DAX down 1%.

The US dollar plunges and trading its lowest since March against major currencies on the back of some verbal comments made by President Donald Trump which escalated concern that a global trade war is escalating.

AUDUSD trading higher at $0.7432 cents with USDCNH (CNY) down trading at 6.7830. Gold was trading higher up 0.5% at US $1,229.53 per ounce while Iron Ore was down 0.2% at US $65.14 a tonne.

DATA RELEASES THIS WEEK:

Monday:

Nil

Tuesday:

USD – Existing Home Sales & Manufacturing PMI

AUD – CPI q/q

Wednesday:

USD – New Home Sales

EUR – ECB Deposit Rate & Interest Rate Decision

Thursday:

JPY – CPI

Friday:

AUD – Producer Price Index q2

USD – GDP q2 & Core Personal Consumption Expenditures q2

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Posted in Foreign Exchange News.