• SPI200 futures closed down 4 pts to 5718
  • SP500 futures closed down 3.00 pts to 2410.75
  • FTSE100 futures closed down 26.50 pts to 7505.50
  • DAX30 futures closed down 39.50 pts to 12588.50
  • GOLD finished down $5.70 to $1265.70 an ounce
  • COPPER futures finished down $0.20 to $256.40 a pound
  • OIL futures finished down $0.14 to $49.66 a barrel
  • CRB Index finished down 0.66 pts to 183.01
  • AUDUSD trading at 0.7462
  • EURUSD trading at 1.1182
  • GBPUSD trading at 1.2798
  • USDJPY trading at 110.8500

The US was pretty much range bound for the first session of the week lacking conviction from buyers or sellers. Seven of the eleven US sectors finished in the red with energy leading the way down 1.3% and financials down 0.8%. US Consumer spending data showed its biggest increase in four months for April while monthly inflation rebounded which all pointed to the likelihood of the Fed Reserve raising interest rates next month. Traders have good data on their side which means they are comfortable with equity levels even though there is geopolitical and political risk. There is no rush to put more money into or take money out of equities so traders are treading water. Worries with ECBs commitment to continued emergency stimulus and falls in inflation in Spain and several German regions kept Europe in a negative tone and closing with losses.

The USD was lower against the YEN as traders were cautious amid political worries in Europe and weak commodity markets. The Pound was lower while the EURO was initially weak but recovered as the USD came under pressure.

Gold gave up some more gains from last week as Oil dropped on concern that the extended cuts will not be enough to ease the global Crude Oil glut.

The ASX200 is expected to open flat as the SPI200 futures were range bound overnight after a quiet US session out of a long weekend.



JPY Prelim Industrial Production 9:50am

CNY Manufacturing and Non-Manufacturing PMI 11am

AUD Private Sector Credit 11:30am

EUR German Retail Sales 4pm

EUR German Unemployment Change 5:55pm

GBP Net Lending to Individuals 6:30pm

EUR CPI Data and Unemployment Rate 7pm

USD FOMC Kaplan Speaks 10pm

CAD GDP 10:30pm

USD Chicago PMI 11:45pm

USD Pending Home Sales 12am

USD Beige Book 4am