Good morning team, Thomas King your Senior Research Analyst here with your First Look.
SPI futures flat this morning after a flat night on Wall Street.
Markets will be preparing for the Fed Statement tonight with policy likely to be left unchanged.
What’s on today:
Local data: AiG performance of services April; NZ first quarter unemployment rate
Overseas data: Euro zone first quarter GDP, UK Markit/CIPS construction PMI April; US Federal Reserve policy statement at 4am AEST, ADP employment April, Market services PMI April, ISM non-manufacturing April
SPI futures down 4 points or 0.1% to 5930
AUD +0.1% to 75.31 US cents (Overnight range: 75.11 – 75.56)
On Wall St, Dow +0.2%, S&P 500 +0.1%, Nasdaq +0.1%
In New York, BHP -1.3%, Rio -0.6%
In Europe, Stoxx 50 +0.5%, FTSE +0.6%, CAC +0.7%, DAX +0.6%
Spot gold flat at $US1256.65 an ounce
Brent crude -2.2% to $US50.40 a barrel
Iron ore slips 8 US cents to $US68.72 a tonne
Dalian iron ore +0.8% to 535 yuan
Steam coal -0.5% to $US79.00, Met coal -5.7% to $US190.00
LME aluminium +0.9% to $US1929.50 a tonne
LME copper +1.2% to $US5735.50 a tonne
10-year bond yield: US 2.29%, Germany 0.32%, Australia 2.60%