MARKET SNAPSHOT –
- SPI200 futures closed up 12 pts to 5883
- SP500 futures closed up 2.0 pts to 2395.25
- FTSE100 futures closed up 41 pts to 7338.50
- DAX30 futures closed down 7.50 pts to 12765
- GOLD finished up $3.00 to $1219.10 an ounce
- COPPER futures finished down $0.10 to $249.70 a pound
- OIL futures finished up $1.46 to $47.34 a barrel
- CRB Index finished up 2.24 pts to 181.08
- AUDUSD trading at 0.7358
- EURUSD trading at 1.0868
- GBPUSD trading at 1.2933
- USDJPY trading at 114.3000
Although the US SP500 Index closed at a new record high, the session was a little less exciting with the benchmark Index quietly trading within a seven point range. Traders shrugged off Trumps unexpected firing of FBI director James Carney even after some news outlets suggested that it would stall tax reform. Eight of the Eleven major sectors on the SP500 were higher with energy leading the way as Oil gained over 3.5%. US Oil inventories saw their biggest one week drop this year and Iraq and Algeria joined Saudi Arabia in supporting an extension to OPEC Supply cuts. European stocks closed on their highs as the FTSE saw strong buying ahead of important economic data release tonight.
The USD closed relatively unchanged after reversing an early fall against a basket of major currencies. The Pound, EURO and AUD were all quiet and unchanged at the end of todays session from the previous session close.
Spot Gold was little changed at the bell to as to was Copper as the USD did not see a lot of action.
The ASX200 is expected to open 10/15 points higher after a major washout of Daily lows yesterday and a strong close as traders digested what the Federal budget meant to them.
ECONOMIC DATA OUT TODAY (AEDT) –
JPY Bank Lending and Current Account 9:50am
AUD MI Inflation Expectations 11am
CHF CPI Data 5:15pm
EUR ECB Economic Bulletin 6pm
GBP Manufacturing Production, Goods Trade Balance, Construction Output and Industrial Production 6:30pm
EUR EU Economic Forecasts 7pm
USD FOMC Member Dudley Speaks 8:25pm
GBP BOE Inflation Report, Monetary Policy and Official Bank Rate 9pm
USD PPI Data and Unemployment Claims 10:30pm
ASX200 INTRADAY LEVELS TO WATCH –