ASX is set for a lower opening with SPI currently down 18 points at 6207. This is on the back of a negative closes to US & European markets on Friday.
Dow Jones closed down 0.1%, S & P down 0.1% & Nasdaq down 0.1%. In Europe, FSTE closed down 0.1%, CAC down 0.4% & DAX down 1%.
The US dollar plunges and trading its lowest since March against major currencies on the back of some verbal comments made by President Donald Trump which escalated concern that a global trade war is escalating.
AUDUSD trading higher at $0.7432 cents with USDCNH (CNY) down trading at 6.7830. Gold was trading higher up 0.5% at US $1,229.53 per ounce while Iron Ore was down 0.2% at US $65.14 a tonne.
DATA RELEASES THIS WEEK:
USD – Existing Home Sales & Manufacturing PMI
AUD – CPI q/q
USD – New Home Sales
EUR – ECB Deposit Rate & Interest Rate Decision
JPY – CPI
AUD – Producer Price Index q2
USD – GDP q2 & Core Personal Consumption Expenditures q2
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