Good morning team, Chris Conway your Chief Market and Trading Strategist, here with your First Look.
The Aussie market is poised to open higher later this morning, after Federal Reserve chair Janet Yellen says a March US interest rate rise is not just live but alive.
SPI futures are up 17 points, at 5724.
After regional Fed officials during the week mostly signalled the likelihood of a second policy rate rise in the past three months, in a speech on Friday Yellen confirmed the view that rates may rise at the next Fed meeting on March 14-15 barring any sharp deterioration in economic conditions.
In the US, the Dow Jones and the S&P 500 closed flat on Friday, up 0.01% and 0.05%, while the Nasdaq gained 0.2%.
In locla economic news on Monday, the Australian Bureau of Statistics releases retail trade figures for February.
The ANZ job advertisements series for February are due out and CoreLogic releases data on capital city house prices for the past week.
No major equities news is expected.
Local data: Retail trade January, Melbourne Institute’s monthly Inflation gauge February, ANZ Job Advertisements February
Overseas data: China key economic targets; Euro zone – Hollande, Merkel, Rajoy and Gentiloni meet; US factory orders January
- SPI up 17 points at 5724
- AUD at US75.93¢
- Dow Jones flat; S&P500 +0.1%; Nasdaq +0.2%
- FTSE100 -0.1%, CAC +0.6%, DAX -0.3%
- Spot gold flat at $US1234.55 an ounce
- Brent oil +1.5% at $US55.90 a barrel
- Iron ore -1.1% at $US91.32 a tonne
What happened overnight: