MARKET SNAPSHOT –
- SPI200 futures closed down 3 pts to 5727
- SP500 futures closed up 6 pts to 2363.50
- FTSE100 futures closed down 44.50 pts to 7419.50
- DAX30 futures closed down 36.50 pts to 12591.50
- GOLD finished down $11.90 to $1246.80 an ounce
- COPPER futures finished down $1.50 to $253.15 a pound
- OIL futures finished up $0.27 to $49.34 a barrel
- CRB Index finished down 0.74 pts to 184.14
- AUDUSD trading at 0.7417
- EURUSD trading at 1.1101
- GBPUSD trading at 1.2937
- USDJPY trading at 111.5900
US markets rebound after the previous session beating with traders buying dips. The rebound was helped by a move to loosen internet regulations and some strong economic data. Traders still had an eye on Washington after reports the US President tried to interfere with an investigation into former National Security Adviser Michael Flynn’s ties with Russia. The main focus is still on events that could help or hinder Trumps ability to implement tax reform and deregulation. Europe opened the session lower but found some traction later in the session to push up into the close.
The USD bounced back along with Equities against a basket of major currencies. The Pound, EURO and AUD saw some selling overnight. The Pound initially broke up through the 1.300 barrier after better than expected retail sales data but then gave the gains back later in the session to close lower.
Gold was lower after traders locked in some gains from the previous session and the major indexes bounced. Oil pushed higher towards the $50 level ahead of next week’s OPEC meeting as key producing countries suggested they would stick to production cuts to reduce a global crude glut.
The ASX200 is expected to open flat after no lead from the overnight SPI200 futures market.
ECONOMIC DATA OUT TODAY (AEDT) –
EUR German PPI Data 4pm
EUR Current Account 6pm
GBP Industrial Order Expectations 8pm
CAD CPI and Retail Sale Data 10:30pm
EUR Consumer Confidence 12am
ASX200 INTRADAY LEVELS TO WATCH –