ASX is set for a positive opening today with SPI currently up by 8 points trading at 6565. There are mixed closed on Friday in the US & European markets with Dow Jones closing down 0.1%, S & P down 0.2% & Nasdaq down 0.5%. In Europe, FTSE down 0.3%, CAC down 0.2% & DAX closed down 0.6%.

In Commodities, Gold closed flat at US 1341.71 an ounce, Brent oil closed higher at 1.1% to US 62.01 a barrel with US oil up by 0.4% to US 52.52 a barrel, Iron ore closed up 0.1% to US 110.30 a tonne.

Aussie dollar tumbled over the weekend reflecting in part US retail sales data which would seem to bolster the case for the Federal Reserve to continue to be patient or not. AUDUSD closed down 0.6% to US 0.6872 cents on the weekend.  Local investors will be waiting for the latest RBA meeting minutes to be released Tuesday and for a midday Thursday speech in Adelaide by Governor Philip Lowe with some strategists suggested another 0.50% drop in the first half of 2020. CPI numbers out due out in the UK on Wednesday with the market expecting a steady 2%. On Thursday FOMC’s projection numbers are due out in the US to forecast the next 2 years’ inflation and economic growth in the States. Also the official bank rate announcement is due out in the UK with the market expecting the 0.75% rate to be remain unchanged. On Friday PMI numbers are due out both in France and Germany.

Please contact one of our Specialists for further information and trading opportunities.

DATA RELEASES THIS WEEK:

Monday:

Nil

Tuesday:

EUR – ECB President Draghi Speaks

AUD – Monetary Policy Meeting Minutes

Wednesday:

GBP -BOE Gov Carney Speaks & CPI y/y

CAD – CPI m/m

Thursday:

USD – FOMC Economic Projections, FOMC Statement, Federal Fund Rate & FOMC Press Conference

AUD – RBA Gov Lowe Speaks

JPY – Monetary Policy Statement & BOJ Press Conference

GBP – Retail Sales m/m, MPC Official Bank Rate Votes, Monetary Policy Summary & Official Bank Rate

Friday:

GBP – BOE Gove Carney Speaks

EUR – French Flash Services PMI

EUR – German Flash Manufacturing PMI

CAD – Core Retail Sales m/m