1. MARKET SNAPSHOT
  • SPI200 futures closed up 21 pts to 5670
  • SP500 futures closed up 1.50 pts to 2421.50
  • FTSE100 futures closed down 50.50 pts to 7242.50
  • DAX30 futures closed down 84 pts to 12320
  • GOLD finished down $3.50 to $1242.30 an ounce
  • COPPER futures finished up $1.55 to $271.10 a pound
  • OIL futures finished up $1.11 to $46.04 a barrel
  • CRB Index finished up 2.92 pts to 176.55
  • AUDUSD trading at 0.7689
  • EURUSD trading at 1.1426
  • GBPUSD trading at 1.3025
  • USDJPY trading at 112.3900

US markets we relatively unchanged ahead of the 4th of July holiday while Europe continued its move lower with the Dax and FTSE100 both feeling the pinch. The US ended the mid way mark for 2017 flat with the broader SP500 Index closing up 0.15% while the DOW finished up 0.39%. Europe continued to focus on rising expectations for tighter monetary policy from major central banks.

The USD has been weak all week as data out Friday showed net Long positions in the USD have cut a massive $4.50 Billion from $7.82 Billion the week earlier. The USD did recover slightly in Fridays trading but more than likely just short position covering going into the long weekend in the US. The other majors were mixed with AUD and Pound up slightly higher but EURO lower.

Crude Oil was a big gainer on the back of a declining US rig count for the first time since January and stronger demand data from China.

The ASX200 is expected to open up 20 points after the big sell off to finish the Financial Year on Friday. We may see a quieter start to July as the US closed for the Long weekend.

 

ECONOMIC DATA OUT TODAY (AEDT) –

AUD  AIG Manufacturing Index 9:30am

JPY  Tankan Manufacturing and Non-Manufacturing Index 9:50am

AUD  Building Approvals and ANZ Job Adverts 11:30am

CNY  Caixin Manufacturing PMI 11:45am

AUD  Commodity Prices 4:30pm

GBP  Manufacturing PMI 6:30pm

EUR  Unemployment Rate 7pm

USD  ISM Manufacturing PMI 12am

 

ASX200 INTRADAY LEVELS TO WATCH –