ASX is set for another negative trading opening on Monday with SPI currently down 17 points at 5644. This is on a back of another sell off in the US and European close on Friday, with Dow Jones closed down 1.2%, S & P down 1.7% & Nasdaq closed down 2.1%. In Europe, FTSTE down 0.9%, CAC down 1.3% & DAX closed down 0.9%. The volatility was lead by disappointing results from both Amazon and Alphabet.
AUDUSD is currently sitting at US $0.7090 cents, Gold closed up 0.1% at US $1233.53 with Iron Ore up 0.6% at US $76.48 a tonne.
Local investors will be focusing on several corporate earnings with ANZ’s full year results due out on Wednesday, NAB’s full year results on Thursday, Macquarie Group first half result on Friday. Another key data is Australia’s CPI numbers due out on Wednesday and Retails Sales numbers out on Friday. Markets is tipping our CPI to increase from 0.4% last quarter to 0.5% with Retails Sales to remain at 0.3%. Global investors will be focusing on Non-farm numbers and unemployment rate due out in US, with the market tipping 191,000 jobs created in October with unemployment rate remain at 3.8%.
Please contact our one of our specialists for further information or trading opportunities.
DATA RELEASES THIS WEEK:
USD – CB Consumer Confidence
CAD BOC Gov Poloz Speaks
AUD – CPI q/q & Trimmed Mean CPI q/q
JPY – BOJ Policy Outlook & BOJ Press Conference
CHF – SNB Chairman Jordan Speaks
CAD – BOC Gov Poloz Speaks
GBP – Manufacturing PMI, BOE Inflation Report, MPC Official Bank Rate Votes, Monetary Policy & Official Rate
USD – ISM Manufacturing PMI, Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate
NZD – ANZ Business Confidence
AUD – Retail Sales m/m
CAD – Employment Change
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