Market Updates 6/8/2018

ASX is expecting an early positive start with SPI currently up 21 points at 6204 on the back of positive ends to Friday’s trade in both US & Europe. Dow Jones was up 0.5%, S & P up by 0.5% & Nasdaq up 0.1%. In Europe, FTSE was up 1.1%, CAC up 0.3% & DAX up 0.6%.

AUDUSD traded higher up 0.6% currently trading US $0.74.04 cents, Gold also traded higher up by 0.6% at US $1,214.90 an ounce with Iron Ore up 0.9% trading at US $67.45 a tonne.

Although the non-farm payroll missed market expectations on Friday, Corporate earnings in the US was strong with key focus in Australia on RBA’s policy meeting with Gov Philip Lowe’s speech on Tuesday followed by RBA’s statement on Monetary Policy on Thursday. Global investors will be looking for the CPI numbers due out in the US on Friday.

Please contact one of our specialist today for further information.

DATA RELEASES THIS WEEK:

Tuesday:

AUD – RBA Rate Statement & RBA Gov Lowe Speaks

Wednesday:

USD – Crude Oil Inventories

NZD – RBNZ Monetary Policy Statement, RBNZ Rate Statement & RBNZ Press Confidence

Thursday:

USD – PPI m/m

AUD – RBA Monetary Policy Statement

Friday:

GBP – GDP m/m, Manufacturing Production m/m & Prelim Trade Balance

CAD – Unemployment Change & Unemployment Rate

USD – CPI m/m & Core CPI m/m

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Posted in Foreign Exchange News.