The Aussie market is poised to open higher following gains on Wall Street on Friday night as the US Federal Reserve’s dovish tone and a strengthening economic outlook compelled investors to take on more risk.
The SPI is up 29 points at 5,193.
Locally, in economic news on Monday, the Commonwealth Bank business sales indicator for February is due out as is the MasterCard Index of Consumer Confidence Report 2016.
No major equities news is expected.
- SPI futures up 29pts or 0.6% to 5193
- AUD 76.16 US cents, 84.98 Japanese yen, 67.65 Euro cents and 52.74 British pence
- On Wall St, Dow +0.7%, S&P 500 +0.4%, Nasdaq +0.4%
- In Europe, Stoxx 50 +0.6%, FTSE -0.2%, CAC +0.4%, DAX +0.6%
- In London, BHP +1.1%, Rio -0.9%
- Spot gold -0.2% to $US1255.51 on Friday in New York
- Brent crude slid 34 cents, or 0.8%, to $US41.20 on Friday
- US oil settled down 76 cents, or 1.9%, at $US39.44 on Friday
- Iron ore jumps 2.5% to $US57.50 per tonne
- On the LME on Friday, copper -0.5%, aluminium -0.5%, lead -1.3%, nickel -2.8%
What’s on today
Overseas data: China business indicator March; Euro zone January current account; US Chicago Fed Feb index, US existing Feb home sales.
Fed speakers: Jeffery Lacker, Dennis Lockhart, James Bullard