MARKET SNAPSHOT –
- SPI200 futures closed down 4 pts to 5905
- SP500 futures closed up 3.75 pts to 2386
- FTSE100 futures closed down 61.50 pts to 7181
- DAX30 futures closed down 35.50 pts to 12465.50
- GOLD finished up $1.70 to $1265.90 an ounce
- COPPER futures finished down $0.75 to $259.30 a pound
- OIL futures finished down $0.65 to $48.97 a barrel
- CRB Index finished down 1.22 pts to 182.02
- AUDUSD trading at 0.7469
- EURUSD trading at 1.0873
- GBPUSD trading at 1.2905
- USDJPY trading at 111.2600
Traders played it safe overnight as they were inundated with US company earnings reports. Close to 300 companies reported between the close on Wednesday and open of last nights session. Although they had a lot to digest, the major Indexes still managed to close in the green. European markets were lower as the ECB President said that policymakers did not discuss removing the bank’s monetary policy easing bias at this month’s meeting.
The USD was higher against a basket of currencies especially the EURO and Yen as both the Bank of Japan and the ECB left monetary policies unchanged. The GBP was higher at the start of European trading and held the highs into the close.
Crude Oil, and therefore the energy sector, was the major drag on the market overnight as prices settled down 1.2% even after positive inventories. The commodity battled with technical selling as price moved below the 200-day moving average. Gold gained some ground correcting some of the previous losses to close slightly higher to hold the daily bias higher.
The ASX200 is expected to open flat and will look for bids to continue the trend higher.
ECONOMIC DATA OUT TODAY (AEDT) –
JPY Household Spending, CPI data and Unemployment Rate 9:30am
AUD PPI Data 11:30am
EUR German Retail Sales 4pm
CHF SND Chairman Jordan Speaks 6pm
GBP Prelim GDP data 6:30pm
EUR CPI Data 7pm
CAD GDP Data 10:30pm
USD Advance GDP Data 10:30pm
USD Consumer Sentiment Data 12am
USD FOMC Member Brainard Speaks 3:15am
USD FOMC Member Harker Speaks 4:30am
ASX200 INTRADAY LEVELS TO WATCH – (Some data missing on ASX200 Chart)