Markets Stabilise After US Federal Reserve Comments

AUD

AUD opens the week with a lack of economic data over the weekend, however the Aussie Dollar drifted slightly down. On equities, it was a positive end to the week as the Hang Seng traded +1.8%, Nikkei +1.4% and Shenzhen +0.6%. The ASX 200 climbed +1.2%, as materials and financials sectors led the way at +2% and +1.6% respectively. A quiet weekend locally and out of Asia. Today, similar with retail and industrial production out of China and nothing out for the Aussie, rest of the week to follow.
 

USD

AUDUSD opens weaker losing roughly 20 points from Fridays open at 0.6640. The technology sector weighed on sentiment once again on Friday and saw the Nasdaq close -1.7%, the S&P 500 -1.1%, and the Dow Jones -.5%.  U.S. 10-year yields rose 3bps to 4.19%, while Brent Crude fell slightly and ended the week at $61.20 a barrel. A quiet weekend globally, all eyes on Wednesday US Data dump set to release with mixed results.
 

EUR

AUDEUR opens similarly to the US, 20 points weaker from Fridays open at 0.5660, European equities fell from Friday’s rally to close in the red, DAX -0.4% AND CAC -0.2%. a quiet weekend for the Euro, sees this week’s data kick off on Tuesday with Eurozone, French and German PMIs the focus for this half of the week. The data is expected to come in with growth in manufacturing across the board.
 

GBP

AUDGBP opens flat at 0.4966 despite weaker than expected GDP data. The FTSE closed in the red down -0.6%. A quiet open, Tuesday, Claimant Count Change forecasted at 22.3K previously at 29k, Average Earnings Index 3m/y expected at 4.4% previously 4.8% later on Tuesday Flash And Services Manufacturing PMIs expecting growth in both areas. Later in the week all eyes on their Bank Rate Decision, expected to cut 25 basis points to 3.75%.
 

NZD

AUDNZD opens weaker from Fridays open at 1.1450. no major data out for the kiwi until Thursday’s q/q GDP, previously at -0.9%, set to come in at 0.8%. a quiet rest of the week for the kiwi.