AXS is posed to opening higher on Monday’s trading session with investors awaits for the start of the US’s corporate reporting season. SPI us currently trading higher up 15 points at 5743.
On the closing markets overseas on Friday, both Dow Jones and S & P was unchanged while NASDAQ closed down 0.5%. In Europe, FSTE closed down 0.4%, CAD down 0.5% and DAX closed down 0.5%.
AUDUSD closed higher up 0.4% to US $0.7215 on the back of a USD retreat with expectation for interest rate rises by US Federal Reserve. The dollar index is down 1% this year at 95.219. In 2018, the dollar index has its strongest performance since 2015 as the US rate-rise cycle advanced and worries of a trade war boosted the currency’s safe-haven appeal to investors.
Brent Crude Oil closed down 2% to US 60.48 a barrel while US Crude Oil closed down 1.9% to US 51.59 a barrel. Iron Oil closed up 0.1% to US 73.45 a tonne.
There are very little data this week as global investors will be focusing on US corporate earnings. Brexit votes on Wednesday and the two days G20 submitted held on Thursday and Friday.
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DATA RELEASES THIS WEEK:
USD – PPI m/m
EUR – EXV President Draghi Speaks
GBP – Parliament Brexit Vote, BOE Gov Carney Speaks, CPI y/y
JPY – BOJ Gov Kuroda Speaks
GBP – Retails Sales m/m