MARKET SNAPSHOT –
- SPI200 futures closed down 8 pts to 5905
- SP500 futures closed down 5.50 pts to 2380.50
- FTSE100 futures closed down 16 pts to 7165
- DAX30 futures closed up 2 pts to 12467.50
- GOLD finished up $2.40 to $1268.30 an ounce
- COPPER futures finished up $1.45 to $260.75 a pound
- OIL futures finished up $0.36 to $49.33 a barrel
- CRB Index finished up 1.25 pts to 183.27
- AUDUSD trading at 0.7488
- EURUSD trading at 1.0895
- GBPUSD trading at 1.2951
- USDJPY trading at 111.4900
The US closed on a weak note after its best week in over two months. Traders took some profit off the table but losses were held in check thanks to good earnings reports from heavy hitters Alphabet and Amazon. Three of the eleven sectors finished in positive territory with the top-weighted Tech sector leading the way. The Risk off tone was evident in the Financial sector as they carried a 2.6% gain for the week into Fridays trading session. Europe closed relatively flat for the session as trading continued to be constrained by French Presidential elections which is now down to two candidates…Emmanuel Macron and Marine Le Pen with Macron running favorite.
The USD pushed slightly higher against a basket of currencies with the GBPUSD and EURO gaining on on the open of European trade only to give up some of the gains into the close of the US session.
Gold gained on safe haven buying and traders locking in some gains in the Equity markets. Oil was up slightly on range bound trading as traders still looking towards potential OPEC/Non-OPEC output cut extensions.
The ASX200 is expected to open flat to down 10 points in search of a bid to build a higher low and price to make another move higher.
ECONOMIC DATA OUT TODAY (AEDT) –
JPY Final Manufacturing PMI 10:30pm
AUD Commodity Prices y/y 4:30pm
EUR EU Economic forecasts 7pm
USD Treasury Secretary Mnuchin Speaks 9:45pm
USD Personal Spending and Personal Income 10:30pm
USD Final Manufacturing PMI 11:45pm
USD ISM Manufacturing PMI 12am
ASX200 INTRADAY LEVELS TO WATCH – (Some data missing on ASX200 Chart)