ASX is set for a lower opening on Monday’s trading session with SPI currently down 17 points trading at 6571. This is on the back of negative closed in both US & Europe, with Dow Jones closed down 0.1%, S & P down 0.1% & Nasdaq closed down 0.2%. In Europe, FTSE down 0.2%, CAC down 0.1% with DAX closed down 0.1%.

In Commodities, Gold closed higher up 0.8% at US 1399.63 an ounce, Brent Oil up by 1.4% to US 65.35 a barrel, US Oil up by 0.6% to US 57.43 a barrel with Iron Ore closed down 0.2% to US 116.98 a tonne. AUDUSD was flat ending the week with US 0.69.26 cents.

US shares slipped on Friday but still closed the week higher on hopes for the lower US interest rates and the prospect of a truce in the US – China trade dispute. US Vice President Mike Pence’s decision to defer a speech on China policy increased optimism on upcoming trade talks between Washington and Beijing, while tensions between the US & Iran undercut sentiment.

In Europe, shares also retreated on Friday led by Healthcare and Media companies. Germany’s manufacturing sector remains deep in contraction and the global economic outlook isn’t great. The benchmark index is on course to recover almost all of its losses from a sharp sell-off in May. Global investors will be monitoring US GDP quarterly numbers due out on Thursday with market expecting a steady 3.1%.

RBA Governor Lowe will participate in a panel at the ANU Crawford Australian Leadership Forum today. Little data announcements this week for investors with most world leaders attending OPEC Meetings and G20 Meetings this week.

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