Markets Readjust to US-China Trade Deal Details

AUD

AUD opens with very little change among all the majors, with markets readjusting due to a major trade deal between China and America on Thursday. The ASX closed flat with modest gains in energy offsetting losses in utilities and discretionary stocks. A mixed end to the week in Asian equities saw the Nikkei climb +2.1% while the Shenzhen and Hang Seng struggled -1.5% and -1.4% respectively. No data out over the weekend; today for Australia we will see MI Inflation Gauge m/m, Household Spending m/m and Commodity Prices y/y. All eyes will be looking towards tomorrow's RBA Rate Decision where they are expected to hold at 3.60%.
 

USD

AUDUSD opens very slightly down at 0.6540 with little movement from Friday. A positive end to the week saw the Nasdaq close +.7%, the S&P 500 +.3%, and the Dow Jones +.1%, mainly due to positive sentiment from the US-China trade deal. A large portion of data still on hold with the government shut down continued, however ISM Manufacturing PMI and ISM Manufacturing Prices will be released and expected at 49.4 and 62.4 respectively.
 

EUR

AUDEUR opens slightly up at 0.5673, seeing no movement following the ECB rate decision on Friday due to them holding as expected at 2.15%. The DAX and CAC both closed down at -0.7% and -0.4%. Today we have the Eurozone Final Manufacturing PMI as well as individual Manufacturing PMIs for the 4 largest European economies (Spain, Italy, France and Germany).
 

GBP

AUDGBP opens flat at 0.4980, holding just below the 0.50 handle since last Wednesday. The FTSE closed on Friday down -0.4%. Today they have Final Manufacturing PMI forecasted at 49.6 same as previous, the big data point for the week will be Thursday with the Bank of England rate decision expected to hold at 4.00%.
 

NZD

AUDNZD opening slightly up at 1.1434, today will be rather quiet for the NZ. The big data point of the week will be their Employment data Wednesday, Unemployment Rate expected to increase from 5.2% to 5.3% and Employment Change q/q expected at 0.1% from previous -0.1%.