It has been a day of cutting risk positions and seeking a safe-haven, with the Yen and Swiss Franc, in particular, demand as US-North Korean tensions remain the main theme of the markets. On the other hand, the Aud and the Kiwi have been discarded with risk-associated assets being heavily sold. The Kiwi is now awaiting the outcome of the RBNZ Meeting, due shortly, which will be followed later by some words of wisdom from the RBNZ Governor, Wheeler. Elsewhere Gold and Silver remain well bid at new minor trend highs, while WTI is choppy but towards the upper end of its recent range. Stocks have been choppy but are pretty much unchanged at the end of the day.
Following the RBNZ Meeting (RBNZ just left rates on hold – as expected), Asia is going to be fairly quiet, with the Australian Consumer Inflation Expectation being the only real point of interest. Europe will be similarly thin, with just the UK Manufacturing/Industrial Production and the Goods Trade Balance to look to ahead of the US session, which will contain the PPI, Jobless Claims and a speech from the Fed’s Dudley. All this is likely to pass fairly unnoticed while traders keep a much closer eye on what Donald Trump might say/do.
The levels in this table are a guide only. For more in depth analysis please go the “Articles” tab at the top of the page and scroll down.
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|ASX SPI: 5705|