• SPI200 futures closed up 19 pts to 5845
  • SP500 futures closed down 1.75 pts to 2393.25
  • FTSE100 futures closed up 56.50 pts to 7297.50
  • DAX30 futures closed up 65 pts to 12772.50
  • GOLD finished down $5.80 to $1221.30 an ounce
  • COPPER futures finished up $0.25 to $249.60 a pound
  • OIL futures finished down $0.23 to $46.20 a barrel
  • CRB Index finished down 0.84 pts to 178.84
  • AUDUSD trading at 0.7345
  • EURUSD trading at 1.0877
  • GBPUSD trading at 1.2938
  • USDJPY trading at 114.0200

The US market finished on their flat lines as financials and energy sectors weighed down sentiment. Also a weight on traders sentiment is the Volatility Index (VIX) which is at historical lows which generally points to a feeling of complacency which is not good when valuations are stretched.

The Australian Budget was released overnight and had a number of winners and losers. Some of the winners are first home buyers who will get another boost to buoy the housing market with the option of piggybacking on Super. Schools will get a boost with $18.6 Billion in funding over the next decade. Medicare is also getting a boost in funding over the next few years and Pensioners will get something in the pocket to help with energy bills. Small business and gas bills also seem to be a focus of the government. Losers will be everyone as the medicare levy increases and top personal tax rates will be increased. University students are being hit along with welfare recipients and foreign investors. (For more detail go to )

The USD found further strength as the Pound and EURO held around previous days levels. Oil resumed its move lower after a bounce in the previous session with gold continuing lower.

The ASX200 is expected to open up around 15 points after the overnight SPI200 futures found some buyers over the budget release.



CNY CPI and PPI data 11:30am

EUR ECB President Draghi Speaks 10pm

USD Import Prices 10:30pm

USD Crude Oil Inventories 12:30am

USD Federal Budget Balance 4am

NZD Official Cash Rate RBNZ Rate and Monetary Statement 7am