The US$ was under consistent pressure over the holiday period and will open at weaker levels on all fronts today. Stocks took a bit of a hit into the year-end due to some profit taking in thin conditions while the commodities all performed strongly, taking advantage of the weak dollar, with WTI now trading above 60.00 and Gold trading back above 1300 for the first time since October.
The trading year begins with a relatively quiet start, with the Australian New Home Sales being the highlight in Asia. The focus in Europe and the US will be on the Markit Mfg PMIs although there is little else to go on today. Most of this week’s focus will be on the EU CPI and the US employment data (exp NFP; +189K), both due on Friday. In the meantime it looks like being more of the Trump/Kim stoush (or Trump v anybody?) that will steal the headlines.
|INDICES / COMMODITIES|
|ASX SPI: 6016|