Good morning team, Chris Conway your Head of Research here with your First Look.
The Aussie is poised to start the new trading week on a soft note, following a lacklustre performance on Wall Street on Friday night where Dow and S&P500 fell fractionally.
SPI futures are down 11 points, at 5650.
In the US, the Dow remained above the landmark 20000 points, closing flat at 20093.78.
US stocks edged lower for a second consecutive session as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump.
US economic growth slowed more than expected in the fourth quarter, with GDP rising at a 1.9 per cent annual rate, below the 2.2 per cent rise expected by economists and the 3.5 per cent growth pace logged in the third quarter. Locally, in economic news on Monday, the CoreLogic is due to release its weekly capital city house prices survey.
In equities news, Newcrest Mining is expected to release its quarterly production report.
Local data: New Zealand overseas trade data December
Overseas data: Japan retail sales December; Euro zone economic confidence January, Euro zone business climate indicator January; US personal income December, personal spending December, PCE core December, pending home sales December
Markets will be closed for the Lunar New Year in China until Friday. In Hong Kong, the holiday will be shorter and markets will reopen on Wednesday instead.
- SPI down 11 points at 5650
- AUD at US75.59¢
- Dow Jones flat; S&P500 -0.1%; Nasdaq +0.1%
- FTSE100 +0.3%, CAC -0.6%, DAX -0.3%
- Spot gold +0.2% at $US1191.30 an ounce
- Brent oil -1.3% at $US55.52 a barrel
- Iron ore flat at $US83.34 a tonne
What happened overnight?