MARKET SNAPSHOT –
- SPI200 futures closed down 12 pts to 5642
- SP500 futures closed down 18.25 pts to 2417.75
- FTSE100 futures closed down 20.50 pts to 7371
- DAX30 futures closed down 106 pts to 12663.50
- GOLD finished up $1.10 to $1247.50 an ounce
- COPPER futures finished up $1.80 to $265.65 a pound
- OIL futures finished up $0.34 to $43.72 a barrel
- CRB Index finished up 1.46 pts to 171.72
- AUDUSD trading at 0.7583
- EURUSD trading at 1.1337
- GBPUSD trading at 1.2813
- USDJPY trading at 112.2600
The US took a hit to the stomach overnight as major Indexes sold off into the close. The broader market SP500 was down 0.8% while the DOW was down 0.5%. The Tech heavy Nasdaq was hit the hardest to close down 1.6%. The US Senate delayed a vote on Healthcare as expected. In Europe, the markets we knocked about be remarks from ECB President Draghi saying that the threat of deflation is gone. The US Bond market finally saw some movement as Yields rallied which was good news for the Financial sectors bottom line. US Fed Reserve Chair Janet Yellen commented that she does not believe that there will be another financial crisis for at least as long as she lives thanks to reforms of the banking system. She also mentioned that rates will be raised gradually as expected.
The USD took a nosedive thanks to Draghi comments. The EURO rallied hard after the comments and thanks to weakness in the USD. The Pound also found strength while the AUD was unchanged in the end.
Gold rallied slightly after a strong move lower the previous session while Crude Oil benefited from a weak USD to end the session while slight gains.
The ASX200 is expected to open down 15/20 points after the US gets knocked about and the SPI200 finished lower overnight.
ECONOMIC DATA OUT TODAY (AEDT) –
EUR German Import Prices 4pm
EUR M3 Money Supply and Private Loans 6pm
USD Goods Trade Balance 10:30pm
CAD BOC Gov Poloz Speaks 11:30pm
EUR ECB President Draghi Speaks 11:30pm
GBP BOE Gov Carney Speaks 11:30pm
JPY BOJ Gov Kuroda Speaks 11:30pm
USD Pending Home Sales 12am
USD Crude Oil Inventories 12:30am
ASX200 INTRADAY LEVELS TO WATCH –