MARKET SNAPSHOT –
- SPI200 futures closed down 23 pts to 5676
- SP500 futures closed down 19.50 pts to 2408.50
- FTSE100 futures closed down 26.50 pts to 7273.50
- DAX30 futures closed down 83 pts to 12367
- GOLD finished up $3.00 to $1224.70 an ounce
- COPPER futures finished up $0.35 to $266.35 a pound
- OIL futures finished up $0.20 to $45.33 a barrel
- CRB Index finished up 0.79 pts to 176.23
- AUDUSD trading at 0.7584
- EURUSD trading at 1.1423
- GBPUSD trading at 1.2973
- USDJPY trading at 113.1700
The bears had reason to celebrate overnight as US stocks were sold down after disappointing labour market data clashed with the possibility of a more hawkish Federal Reserve. Traders are now looking toward employment data out tonight to come in less than expected and potentially show a cooling US labour market. Also of concern was rising tensions in the Korean peninsula after North Korea flexed its muscle to successfully test a ballistic missile. Europe was also lower after minutes from the latest ECB meeting showed the central bank had left the door open to scrapping its bond-buying pledge.
The USD was weaker after employment data disappointed and US Bond yields fell. The EURO was stronger thanks to ECB minutes while the AUD fell. The Pound inched higher as traders hold out for a potential BOE rate rise.
Gold was slightly higher still trying to gain back lost ground while Oil also edged higher after Oil inventories came in more negative than expected.
The ASX200 is expected to open down 20/30 points after the SPI200 had a rough night. We may see choppy trading ahead of the US employment data out tonight.
ECONOMIC DATA OUT TODAY (AEDT) –
AUD AIG Construction Index 9:30am
EUR German Industrial Production 4pm
GBP Halifax HPI 5:30pm
GBP Manufacturing Production, Goods Trade Balance, Construction Output and Industrial Production 6:30pm
CAD Employment Change and Unemployment Rate 10:30pm
USD Non-Farm Employment Change and Unemployment Rate 10:30pm
GBP BOE Gov Carney Speaks Tentative
USD Fed Monetary Policy Report 1am
ASX200 INTRADAY LEVELS TO WATCH –