Good Morning,
Market Headlines
Global Sentiment tapered off amid continued US-China tensions, further procrastination on US fiscal stimulus, and increasing virus numbers. The Dow and S&P fell by a little over 0.6% on the day while the Nasdaq closed down almost 1%. On the Commodities front, Brent crude futures gained 0.1% to $43.35, copper retracted 1.5%, iron ore dropped 1.5% to $109.15, and gold rose by 0.8% to $1,900 an ounce for the first time in 10 years
Currencies
AUD/USD: 0.7064 – 0.7106
EUR/USD: 1.1582 – 1.1658
AUD/EUR: 0.6081 - 0.6096
GBP/USD: 1.2718 – 1.2803
USD/JPY: 105.68 – 106.43
USD/CAD: 1.3390 – 1.3445
NZD/USD: 0.6615 – 0.6641
AUD/JPY: 74.83 – 75.42
AUD/NZD: 1.0676 – 1.0700
AUD Thoughts
US-China tensions and Vaccine progression continue to be the key drivers for volatility in markets this week. Key economic data for the week ahead being Inflation and Employment Data locally, whilst to watch for in offshore markets will be US GDP and Chinese PMIs.
AUD/USD demand resting ahead of 0.7050, whilst offering interest remains in the 0.7180 - 7200 region.
Event Risk Data Today
AU – RBA - Assistant Governor Kent (Financial Markets) will speak at Kanga News (10:00 AEST).
CH – June Industrial Profits
GE – July IFO Survey
US – June Durable Goods Orders
US – July Dallas Fed Manufacturing Activity Index