The Australian market looks set to open slightly higher later this morning, after modest gains on Wall Street overnight as traders digested the latest round of big bank earnings.
The SPI futures contract is up 9 points, at 5099.
In local economic news, the Reserve Bank of Australia releases its Financial Stability Review.
- SPI futures up 9 pts at 5099
- AUD +0.5% to 76.87 US cents, 84.11 Japanese yen, 68.33 Euro cents and 54.37 British pence
- On Wall St, Dow +0.1%, S&P 500 flat, Nasdaq flat
- In Europe, Stoxx 50 +0.7%, FTSE flat, CAC +0.5%, DAX +0.7%
- In London, BHP +1.8%, Rio -0.1%
- Spot gold -1.3% to $US1225.79 at 2.21pm New York time
- Brent crude flat at $US44.22 at 1.57pm New York time
- Iron ore -1.8% to $US59.38
What’s on today:
Local data: RBA financial stability review at 11.30am
The IMF and World Bank Group hold their spring meetings, focused on the global economy and financial markets. Through April 17 in Washington.
China’s GDP growth is projected to slow in the first quarter, even after a rash of monetary and fiscal stimulus. March figures for industrial output, retail sales and fixed asset investment are released at the same time. 10:00 in Beijing,
Fed speakers: Chicago’s Charles Evans
Overseas data: China GDP 1st Qtr, China industrial production (Feb), China retail sales (Feb); Japan industrial production (Feb); Euro zone trade balance (Feb); Official start of UK’s EU referendum; US consumer sentiment (April), US industrial production (March), US international capital flows (Feb), Baker Hughes rig count.
Overseas earnings: Citigroup, Charles Schwab