Weekly Market Updates 22/10/2018

SPI is currently down 12 points at 5911 which points to a negative start to ASX open trading this morning. This is on the back of mixed closes in the US & European markets on Friday, with Dow Jones closed up 0.3%, S & P was flat and Nasdaq closed down 0.5%. In Europe, FTSE closed up 0.3%, CAC down 0.6% and DAX down 0.3%. Historically, October have the reputation for being a volatility trading month, with US stocks again failing to sustain early week gains as investors mostly shrugged off a strong start to third-quarter corporate earnings season in the US.

AUD traded higher to end 0.3% to US 0.7119 cent, Gold was up 0.1% to US $1226.69 an ounce.  While there’s little economic data locally or overseas this week, there a few key reports to watch. In Canada, BOC is expected to lift rates. In Europe, ECB is expecting to leave rates on hold and in the US, GDP growth for the 3rd quarter is expected a 3.7% reflecting a solid consumer spending. For further information and trading opportunities please contact of our specialist for more information.

Please contact one of our office for any trading information and opportunities today. 

DATA RELEASES THIS WEEK:

Wednesday:

GBP – BOE Gov Carney Speaks

Thursday:

CAD – BOC Monetary Policy Report, BOC Rate Statement & Overnight Rate

EUR – Main Refinancing Rate, ECB Press Conference & Core Durable Goods Orders m/m

Friday:

USD – Advance GDP q/q & Advance GDP Price Index q/q

EUR – ECB President Draghi Speaks

 

Marketing Team

02 8197 0065

Posted in Foreign Exchange News.