• SPI200 futures closed down 8 pts to 5732
  • SP500 futures closed up 0.25 pts to 2411
  • FTSE100 futures closed down 0.50 pts to 7508
  • DAX30 futures closed up 49.50 pts to 12638
  • GOLD finished up $5.70 to $1271.40 an ounce
  • COPPER futures finished up $2.00 to $258.40 a pound
  • OIL futures finished down $1.03 to $48.63 a barrel
  • CRB Index finished down 1.57 pts to 181.45
  • AUDUSD trading at 0.7428
  • EURUSD trading at 1.1243
  • GBPUSD trading at 1.2876
  • USDJPY trading at 110.8100

US markets closed just below their breakeven levels overnight as financials drop and defensive stocks gain. Concerns for the financial sector include slowing loan growth, rising delinquencies for sub-prime auto loans and a flattening of the yield curve. Traders are skeptical on Trump delivering pre-election growth promises which is part of the reason for the post-election rally to all time highs. Financials in the US have struggled in recent weeks as they deliver negative trading revenue growth. Londons FTSE Index struggled as a new poll found that British Prime Minister May’s Conservative Party’s lead over rival Labour was just 3 points with just over a week to go before a national election.

The USD was weaker against a basket of major currency pairs with the Pound gaining after election polls point to a closer race than initially expected. The EURO gained on USD weakness and the ECB committing to keep its stimulus plan. The AUD weakened as commodities continue to come under pressure.

Gold managed to rally overnight on a weaker USD. Oil put pressure on the overall market as it fell 2.9% over concerns of heightened production in Libya. Reports indicate that Libya’s oil production has risen to 827,000 barrels per day which is significantly more than 2017 average of 500,000 and 2016 of 300,000.

The ASX200 is expected to open flat to down 10 points as the SPI200 futures backed off a little overnight from the days close.



AUD AIG Manufacturing Index 9:30am

AUD Private Capital Expenditure and Retail Sales 11:30am

CNY Caixin Manufacturing PMI 11:45pm

EUR German Manufacturing PMI 5:55pm

EUR Final Manufacturing PMI 6pm

GBP Manufacturing PMI 6:30pm

USD ADP Non-farm Employment Change 10:15pm

USD Unemployment Claims, Revised Non-farm Productivity and Unit Labor Costs 10:30pm

USD ISM Maufacturing PMI 12am

USD Crude Oil Inventories 1am