MARKET SNAPSHOT

  • SPI200 futures closed up 21 pts to 5726
  • SP500 futures closed up 3 pts to 2428
  • FTSE100 futures closed down 8.50 pts to 7300
  • DAX30 futures closed down 4.50 pts to 12450
  • GOLD finished up $7.30 to $1226.50 an ounce
  • COPPER futures finished down $2.95 to $266.35 a pound
  • OIL futures finished down $1.46 to $45.61 a barrel
  • CRB Index finished down 2.52 pts to 175.44
  • AUDUSD trading at 0.7606
  • EURUSD trading at 1.1350
  • GBPUSD trading at 1.2933
  • USDJPY trading at 113.2300

The US market finished higher after minutes from the US Federal Reserve’s last meeting showed contrasting opinions on inflation. Federal Reserve policymakers were split on the outlook for inflation and how it might affect the future pace of interest rate rises. Trading was also light after the 4th July holiday and ahead of US Payroll report out on Friday. European stocks was higher on earnings outlook but gains were capped thanks to a slide in oil and energy shares.

The USD was relatively unchanged after giving up early gains thanks to the Fed minutes. The other major currencies AUD, EURO and GBP were all flat at the close.

Gold continued to gain back lost ground from its recent fall while Oil futures fell over 4%. Oil was hurt on the back of a recent rise n the USD and also rising output from OPEC.

The ASX200 is expected to open up 10/15 points after the SPI200 futures were higher overnight. The ASX200 and AUD may be contained prior to the Trade Balance release at 11:30am.

 

ECONOMIC DATA OUT TODAY (AEDT) –

AUD  Trade Balance 11:30am

EUR  German Factory Orders 4pm

CHF  CPI 5:15pm

EUR  ECB Monetary Policy Meeting Accounts 9:30pm

USD  ADP Non-Farm Employment Change 10:15pm

CAD  Trade Balance 10:30pm

USD  Unemployment Claims and Trade Balance 10:30pm

USD  ISM Non-Manufacturing PMI and FOMC Member Powell Speaks 12am

USD  Crude Oil Inventories 1am

 

ASX200 INTRADAY LEVELS TO WATCH –