Morning market update 5 July, 2016

- 05 July 2016

The Australian market looks set to open lower as the post-Brexit recovery across global markets sputtered to a halt.

Financial and commodities markets in the United States were closed for the July 4 public holiday.

The SPI is down 11 points, at 5239.

Local economic events include the Reserve Bank of Australia’s monthly board meeting to consider interest rates, data from the Australian Bureau of Statistics for international trade and retail trade for May.

The Australian Industry Group also releases local Performance of Services Index (PSI) for June.

No major equities news is expected.

Key Numbers

  • The SPI is down 11 points, at 5239
  • AUD at 75.39 US cents
  • Wall St closed for the July 4th holiday
  • In Europe, Stoxx 50 -0.7%, FTSE -0.8%, CAC -0.9%, DAX -0.7%
  • Spot gold +0.7% to $US1350.62 an ounce
  • Brent crude -0.5% to $US50.10 a barrel
  • Iron ore +3.5% to $US56.22 per tonne

What’s on today

Local data: RBA board meeting and rate decision, no change is expected; ABS retail trade for May; AI group performance of services index for June; ABS international trade for May; Dun and Bradstreet business expectations for June.

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