MARKET SNAPSHOT –
- SPI200 futures closed down 6 pts to 5871
- SP500 futures closed down 2.50 pts to 2383.25
- FTSE100 futures closed down 18.50 pts to 7177
- DAX30 futures closed up 17.50 pts to 12529
- GOLD finished down $18.50 to $1238.50 an ounce
- COPPER futures finished down $11.85 to $251.70 a pound
- OIL futures finished down $0.11 to $47.55 a barrel
- CRB Index finished up 0.07 pts to 181.95
- AUDUSD trading at 0.7424
- EURUSD trading at 1.0887
- GBPUSD trading at 1.2868
- USDJPY trading at 112.6800
The major Indexes in the US managed to close around breakeven after a late afternoon rally. Apples latest earnings report showed that sales failed to meet expectations which dragged on the Tech sector. Traders now focused on the payroll data out Friday night in the US as the FOMC left interest rates unchanged as expected. The Fed statement failed to shed any new light on the rate outlook with traders looking to June for an increase. Europe was mixed but relatively range bound as traders wait for results in the upcoming French elections and Brexit.
The USD pushed higher on the FOMC signal for a June rate hike. The Pound found sellers to brush off the positive construction data as traders focus on tonights Services PMI data release which accounts for around 80% of Britains economic output. The EURO was lower as French elections loom and traders nervous for an anti-euro Marine Le Pen victory.
Gold was lower along with Copper taking a beating as the USD outlook increased. Oil remained flat for the session as inventory data came out lower but not as weak es expected (-0.9M vs -3.3M expected).
The ASX200 is expected to open 10/15 points lower as the Index retreats from the highs and traders book some gains.
ECONOMIC DATA OUT TODAY (AEDT) –
AUD HIA New Home Sales 11am
AUD Trade Balance 11:30am
AUD RBA Gov Lowe Speaks 1:10pm
EUR Spanish Unemployment Change 5pm
GBP Services PMI, Net Lending to Individuals and M4 Money Supply data 6:30pm
EUR Retail Sales 7pm
CAD Trade Balance 10:30pm
USD Unemployment Claims and Trade Balance 10:30pm
USD Factory Orders 12am
EUR ECB President Draghi Speaks 2:30am
ASX200 INTRADAY LEVELS TO WATCH