Good morning team, Thomas King your Senior Research Analyst here with your First Look.
SPI futures are down 8 points this morning, following falls in commodities overnight.
Today we will see the RBA release their statement on Monetary Policy.
What’s on today:
Local data: AiG April construction, HIA March new home sales, RBA Statement on Monetary Policy
Overseas data: US April nonfarm payrolls, Consumer credit March
SPI futures down 8 points or 0.1% to 5856
AUD -0.1% to 74.11 US cents (Overnight range: 73.83 – 74.30)
On Wall St, Dow flat, S&P 500 +0.1%, Nasdaq +0.1%
In New York, BHP -1.1%, Rio -0.8%
In Europe, Stoxx 50 +1.2%, FTSE +0.2%, CAC +1.4%, DAX +1%
Spot gold -0.8% to $US1227.82 an ounce
Brent crude -4.9% to $US48.32 a barrel
US oil -5% to $US45.41 a barrel
Iron ore -5.1% to $US65.20 a tonne
Dalian iron ore -5.6% to 471 yuan
Steam coal +0.0% to $US78.00, Met coal -2.5% to $US175.50
LME aluminium -0.6% to $US1913 a tonne
LME copper -1% to $US5543 a tonne
10-year bond yield: US 2.35%; Germany 0.39%; Australia 2.64%