MARKET SNAPSHOT

  • SPI200 futures closed up 55 pts to 5872
  • SP500 futures closed up 12.25 pts to 2397.75
  • FTSE100 futures closed up 41.50 pts to 7241.50
  • DAX30 futures closed up 80 pts to 12718.50
  • GOLD finished down $1.70 to $1226.90 an ounce
  • COPPER futures finished up $1.70 to $252.85 a pound
  • OIL futures finished up $0.70 to $46.22 a barrel
  • CRB Index finished up 0.93 pts to 179.46
  • AUDUSD trading at 0.7408
  • EURUSD trading at 1.1001
  • GBPUSD trading at 1.2974
  • USDJPY trading at 112.8300

The US closed out the week on a strong note finishing Friday night up around 0.5%. US payrolls came out better than expected to put on more jobs and the unemployment rate also came out lower than expected at 4.4%. Although the equity market took the data release as a positive, the bond market lacked conviction either way to settle the session on a flat note to indicator no change on the interest rate outlook. In Europe, the big news was over the weekend as the French elections were won by Emmanuel Macron who beat the far-right Marine Le Pen.

The EURO is the big mover after Macron comfortably took out the elections. The currency pair cracked the 1.1000 level in early trade today with the USD also gaining back lost ground from Friday.

Crude Oil gave some respite for the bulls on a much needed bounce back to close the session up around 1.5%. Oil headwinds still persist with growing US Inventories, weak economic data out of China and a negative Technical view. Gold was slightly lower as the bears still held control and Copper bounced back after a drop of 5.7% earlier in the week.

The ASX200 is expected to open strong up around 40 points after a solid lead from the US on Friday.

 

ECONOMIC DATA OUT TODAY (AEDT) –

AUD Building Approvals and Business Confidence data  11:30am

CNY Trade Balance  Tentative

JPY Consumer Confidence 3pm

EUR German Factory Orders 4pm

USD Labor Market Conditions Index 12am

 

ASX200 INTRADAY LEVELS TO WATCH –