Market Updates 30/07/2018

ASX looks set to a negative opening with SPI currently down 26 points at 6225 on the back of some mixed closed in US & Europe markets on Friday.

In US, Dow Jones closed down 0.3%, S & P down 0.7% & Nasdaq down 1.5%. In Europe, FSTE closed up 0.5%, CAC up 0.6% & DAX closed up 0.4%. The US markets was trading fairly strongly with Nasdaq breaking new highs before Facebook sell off, followed by Twitter fell 20.5% after the social media reported a decline in its monthly users. Intel Shares also fell 8.6% after the company missed estimated earnings.

However the US GDP came in at 4.1% although it misses the market expectation of 4.2% but the figure more than doubled from last quarter coming in at 2%.  In Europe, over 70 companies will have their earnings reported this week. This includes BNP Paribas, Intesa Sanpaolo, Lloyds, ING, Barclays to name a few.

It is going to be a busy week if you are looking for opportunities to trade the FX & CFDs’ markets, with US releases its first test with ADP non-farm numbers due out on WednesdayOn Thursday we have the Australia Trade Balance numbers due out. On Friday, in Australia the retail numbers with the market expecting a small drop from last month at 0.3%. Friday evening we have the US non-farm numbers and unemployment rate being released with market tipping 193k jobs added during the month of July with unemployment steady at 3.9%.

Call one of our FX experts today and find out how you can trade CFDs and take advance of this.

DATA RELEASES THIS WEEK:

Tuesday:

NZD – ANZ Business Confidence

JPY – BOJ Outlook Report, BOJ Policy Rate & Monetary Policy Statement

CAD – GDP m/m

Wednesday:

USD – CB Consumer Confidence & ADP Non-Farm Employment Change

NZD – Employment Change q/q & Unemployment Rate

Thursday:

USD – ISM Manufacturing PMO, Crude Oil Inventories, FOMC Statement  & Federal Funds Rate

AUD – Trade Balance

GBP – BOE Inflation Report & MPC Official Bank Rate Votes

Friday:

AUD – Retail Sales m/m

GBP – Services PMI

CAD – Trade Balance

USD – Average Hourly Earning m/m, Non-Farm Employment Change & Unemployment Rate & ISM Non-Manufacturing PMI

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Posted in Foreign Exchange News.