MARKET SNAPSHOT –
- SPI200 futures closed up 7 pts to 5855
- SP500 futures closed down 5.25 pt to 2359.25
- FTSE100 futures closed down 24.50 pts to 7275.50
- DAX30 futures closed up 49 pts to 12329.50
- GOLD finished up $3.20 to $1251.20 an ounce
- COPPER finished down $1.90 to $265.25 a pound
- OIL finished up $0.25 to $50.60 a barrel
- CRB Index finished up 0.37 pts to 187.34
- AUDUSD trading at 0.7629
- EURUSD trading at 1.0652
- GBPUSD trading at 1.2550
- USDJPY trading at 111.3900
The US market pretty much oscillated around its breakeven point in Fridays session to close in the red for the end of the quarter. The session was filled with Fed Reserve speakers talking interest rates which pushed US bonds higher. Traders continued to focus on whether political developments will cloud the brightening global economic outlook as Trumps setback on his healthcare bill cast uncertainty on tax reform. Europe was mixed as Germany finished higher but Londons FTSE closed weaker after better than expected Current Account Data.
The USD was slightly weaker as uncertainty continued over the pace of US interest rate rises. The Pound was stronger into the close as foreign direct investment increased and the Current Account Deficit nearly halved. The EURO was lower at the close with the AUDUSD also loosing ground at the bell.
Gold pushed slightly higher as the USD weakened and bargain hunters stepped in after the prior sessions weakness. Oil held above the $50 a barrel mark as speculation continued through the market that OPEC will extend its deal to cut output.
The ASX200 is expected to open flat to slightly lower as Friday nights session saw the SPI200 futures range bound.
ECONOMIC DATA OUT TODAY (AEDT) –
JPY Tankan Manufacturing and Non-Manufacturing Index data 9:50am
AUD Retails Sales and Building Approvals 11:30am
AUD Commodity Prices 4:30pm
GBP Manufacturing PMI 6:30pm
EUR PPI Data and Unemployment Rate 7pm
USD ISM Manufacturing PMI 12am
ASX200 INTRADAY LEVELS TO WATCH –