Please note that the commentary below is factual information provided to a group of readers as a web blog, and where an opinion is expressed by the author, it is GENERAL ADVICE only.
Investor Sentiment Improves:
Equities closed out the week in better shape with the major equity indices in the U.S and Europe adding as much as 2.86% in Europe (Dax) and 1.34% in the U.S (Nasdaq). The solid gains came amid renewed hope that a trade deal and progress is still possible in the now 22 month long trade war between China and Trump’s White House administration. Locally, and the ASX is tipped to open strongly this morning.
The broadly stronger investor sentiment on Friday helped the AUD make gains right across the board with AUD/USD the best performer up around 1% on Friday evening. AUD/GBP was the only currency pair to pare gains as the British Pound made gained on positive Brexit negotiations.
No economic data is due out today, but we have bank holidays in the US, Japan and Canada today meaning USD, JPY and CAD payments will all go out tomorrow.
AUD EXCHANGE RATES:
AUD/USD – 0.6756
AUD/GBP – 0.5337
AUD/EUR – 0.6117
AUD/NZD – 1.0681
AUD/JPY – 73.233
All Ords (XAO) – 6,721
Gold – A$2,192/oz
Silver – A$25.84/oz
WTI – US$54.90 barrel
DATA RELEASES TODAY:
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