Good morning team, Thomas King your Senior Research Analyst here with your First Look.
SPI futures are looking to fall on open this morning following Wall Street Lower.
It will be a quiet day today data wise with no major Australian or corporate news to be released.
What’s on today:
Local data: BusinessNZ manufacturing April PMI
Overseas data: Euro zone March industrial production; German first quarter GDP, CPI April final; US April CPI, April retail sales, University of Michigan May consumer sentiment
SPI futures down 9 points or 0.2% to 5856
AUD +0.2% to 73.79 US cents (Overnight range: 73.36 – 73.82)
On Wall St, Dow -0.1%, S&P 500 -0.2%, Nasdaq -0.2%
In New York, BHP +0.2%, Rio -0.1%
In Europe, Stoxx 50 -0.6%, FTSE flat, CAC -0.3%, DAX -0.4%
Spot gold +0.5% to $US1225.00 an ounce
Brent crude +1% to $US50.74 a barrel
Iron ore -0.6% to $US60.38 a tonne
Dalian iron ore -1.5% to 455 yuan
Steam coal -1.1% to $US73.30, Met coal -0.6% to $US176.00
LME aluminium +0.5% to $US1875 a tonne
LME copper +0.8% to $US5543 a tonne
10-year bond yield: US 2.39%, Germany 0.43%, Australia 2.65%