Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a flat start later this morning following a mixed night on Wall Street.
It was also a mixed session for commodities; gold dropped, while oil advanced.
Based metals dipped in London. Iron ore futures on the Dalian exchange closed higher.
What’s on today:
Local data: New Zealand May trade
Overseas data: China industrial profits May; US S&P CoreLogic CS house prices April, CB consumer confidence June, Richmond Fed manufacturing June
SPI futures up 1 point to 5667
AUD +0.2% to 75.82 US cents (Overnight range: 75.59 – 75.99)
On Wall St, Dow +0.1%, S&P 500 flat, Nasdaq -0.3%
In New York, BHP -0.5%, Rio +0.3%
In Europe, Stoxx 50 +0.5%, FTSE +0.3%, CAC +0.6%, DAX +0.3%
Spot gold -1.1% to $US1242.95 an ounce
Brent crude +0.7% to $US45.84 a barrel
Dalian iron ore +0.5% to 433 yuan
LME aluminium -0.2% to $US1862 a tonne
LME copper -0.1% to $US5794 a tonne
10-year bond yield: US 2.13%, Germany 0.24%, Australia 2.37%
What happened overnight: