ASX is expected to start with a positive trading session on Monday with SPI currently up by 6 points at 6180 but this could be short live with renewed US & China trade worries. US markets opened higher on Friday before dropping sharply on news that President Trump directed his advisers to proceed with plans to impose on another $200 billion of Chinese goods. As a result, Dow Jones closed flat, S & P also closed flat with Nasdaq closed down 0.1%. In Europe, FTSE closed up 0.3%, CAC up 0.5% & DAX closed up 0.6%.
In the commodities market, Gold closed lower at US $1194.85 & Iron Ore lost 0.8% to closed at US $67.68 a tonne. In the local currencies, AUDUSD lost 0.6% to US $0.7153 cents. With little data releases this week, investors can only focus on the tension between US & China trade war and the outlook on Europe when President Draghi speaks on Tuesday local time. For further information please contact one of our specialists for any trading opportunities.
For further trading opportunities please contact of our Specialists for further details.
DATA RELEASES THIS WEEK:
AUDUSD – Monetary Policy Meeting Minutes
EUR – ECB President Draghi Speaks
JPY – Monetary Policy Statement
GBP – CPY y/y
USD – Crude Oil Inventories
NZD – GDP q/q
CHK – SNB Monetary Policy Assessment
GBP – Retail Sales m/m
CAD – CPY m/m & Core Retail Sales m/m
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