Market Updates 1/4/2019

ASX is posed to extend rally on the back of strong closing of the markets in US & Europe. SPI is currently up by 18 points at 6189. In US, Dow Jones closed up 0.8%, S & P up 0.7% & Nasdaq up by 0.8%. In Europe, FTSE closed up 0.6%, CAC up by 1% & DAX closed up 0.8%.

In Commodities, Gold closed up by 0.2% to US 1292.38 an ounce, Bret Crude closed up 0.8% to US 68.39 a barrel while US Crude closed up 1.4% to US 60.14 a barrel. Iron Ore up by 2.5% to US 86.81 a tonne.

With strong commodities prices in both Gold and Iron Ore, AUDUSD also closed higher to 0.3% closing at US 0.7096 cents.

There are wrath of data to watch out for this week starting from Today’s PMI numbers from China. Tuesday we have PMI numbers out of US and in local market, New building numbers and RBA cash rate due out in Australia. The market is tipping a decreases in building approvals with a negative 1.7% downturn. RBA is also tipped to hold rate on 1.50%. On Wednesday we have our local Retail sales number with the market expecting a slight increase of 0.3% for 0.1% the previous month. During the evening, we have ADP non-farm number, this is also a good indicator on how the Non-Farm numbers are due on Friday in the US. Friday, we have the non-farm number due out with the market expecting 175,000 jobs created in March. The US is facing some pressure with only 20,000 created in the previous month. Unemployment is tipped to remain steady at 3.8%.

Please contact on our Specialists for further information or trading opportunities

DATA RELEASES THIS WEEK:

Monday:

CNY – Caixin Manufacturing PMI

USD – Core Retail Sales m/m & Retail Sales m/m

Tuesday:

USD – ISM Manufacturing PMI & Core Durable Goods Orders m/m

CAD – BOC Gov Poloz Speaks

AUD – Building Approvals m/m,  RBA Rate Statement & Annual Budget Release

Wednesday:

AUD – Retail Sales m/m & Trade Balance

USD – ADP Non-Farm Employment Change

Thursday:

NO MAJOR DATA

Friday:

CAD – Employment Change & Unemployment Rate

USD – Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate

 

Marketing Team
02 8197 0065

 

Posted in 外汇新闻.