AUS
NZ
UK
CA
USA
IND
Highlights
The Australian share market is expected to begin the week on a positive note.
The latest ASX Futures indicate that the ASX 200 would open 57 points or 0.9% higher.
The Dow Jones rose 2.15%, the S&P 500 surged 1.9%, and the NASDAQ ended 1.8% higher.
The ASX 200 is likely to start the week on a positive note after an upbeat finish on Wall Street last Friday after market expectations eased around an aggressive interest rate hike by the US Federal Reserve in July. Additionally, US spending data beat market expectations.
Investors would be awaiting release of latest monetary policy meeting minutes from Reserve Bank of Australia (RBA) on Tuesday.
According to the latest ASX Futures, the ASX 200 would open 57 points or 0.9% higher on Monday morning. The benchmark ASX 200 index had closed 0.7% lower at 6,605.6 points last Friday.
Market would also closely eye the speech by RBA’s deputy governor Michele Bullock on Tuesday on the topic “How are Households Placed for Interest Rate Increases?” Similarly, RBA Governor Philip Lowe’s speech is also scheduled on Wednesday.
The other major event this week is the release of quarterly production report by BHP (ASX:BHP) on Wednesday. On Friday, Rio Tinto’s share price hit a nearly eight-month low following the company’s poor second-half earnings.
European Central Bank (ECB) would also be holding a monetary policy meeting this week.
Global equities
In US, the Dow Jones rose 2.15%, the S&P 500 surged 1.9%, and the NASDAQ ended 1.8% higher. The US companies’ second-quarter earnings have remained largely underwhelmed so far.
In Europe, the Stoxx 50 rose 2.4%, the FTSE gained 1.7%, the CAC surged 2%, and the DAX ended 2.8% higher.
Bond yields
While the yield on 10-year Treasury notes declined 3.1 basis points to 2.928%, the two-year US Treasury yield fell 1.3 basis points to 3.133%.
The dollar index dipped 0.451%, while the euro surged 0.59% to US$1.0075.
Oil prices rise
Oil prices rose on Friday on a report that an immediate output boost by Saudi Arabia was not on cards.
- Brent crude finished at US$101.16 a barrel, rising 2.1%.
- West Texas Intermediate (WTI) crude closed at US$97.59 a barrel, gaining 1.9%.
Gold prices fall
Gold prices fell as dollar’s overall strength increased.
- US gold futures fell 0.1% to US$1,703.6.
