The US$ is mixed in quiet trade at the start of the week with the US on holiday, although the stock markets are open, with the US indices trading slightly lower after having very briefly set another new all-time high. Sterling is a little higher after it was reported that the recent inflation data was mistakenly understated and will place pressure on the BOE to raise rates. The commodity bloc currencies are heavy while the EU majors are steady, with traders looking to future developments in Catalonia for direction. The metals remain firm, while WTI has had a quiet session.
Tuesday looks like being mostly another relatively quiet one although the US will be back into day and will have their first chance to disseminate the ramifications of last Friday’s employment data. Tomorrows FOMC minutes would seem to be the major contender this week for any real volatility so we may continue to chop around current levels today. Of interest, coming up in Asia will be the NZ Electronic Card Retail Sales and the Australian NAB Business Confidence/Conditions, a speech from the RBA’s Debelle and the Chinese New Loans data. Europe will look to the UK Manufacturing/Industrial Production and the UK NIESR GDP Estimate for guidance, along with the German Trade Balance and Current Account, while the US has very little to offer apart from a speech from the Fed’s Kashkari and the weekly API weekly Crude Oil Stock Inventory. That aside will be politics that continue to dominate the action, with the spat between Trump/Kim and ongoing concern and with Spanish/Catalan tensions still to the fore.
|INDICES / COMMODITIES|
|ASX SPI: 5702|