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 Wednesday. On 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:
NZD – ANZ Business Confidence
JPY – BOJ Outlook Report, BOJ Policy Rate & Monetary Policy Statement
CAD – GDP m/m
USD – CB Consumer Confidence & ADP Non-Farm Employment Change
NZD – Employment Change q/q & Unemployment Rate
USD – ISM Manufacturing PMO, Crude Oil Inventories, FOMC Statement & Federal Funds Rate
AUD – Trade Balance
GBP – BOE Inflation Report & MPC Official Bank Rate Votes
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
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