Weekly Market Commentary
Equities will close the month of September at record highs. Confidence is high, as are expectations, with US Tax reform front and centre. The Chicago PMI jumped, to close the month on a positive note, while the first week of October welcomes an avalanche of global economic data. The US Dollar also closed the month at higher levels, with the EUR testing 1.1800, while the GBP slipped below 1.3400. Trump met with former Fed Governor Kevin Warsh, a prospect to replace Fed President Yellen, with a more hawkish perspective. EU CPI showed signs of life, confirming some growth in the ECB, allowing the global recovery narrative to continue. The NZD trades around 0.7200, undermined by post-election negotiations, while the AUD drifted to 0.7830. The RBA rate decision, in the coming week, will provide a summary of economic conditions in the local economy and their place in the world.
Weekly Market Calendar
2/10 Australia Manufacturing PMI, Tankan Report, France/German/EU/UK Manufacturing PMI, EU Employment, US Manufacturing PMI, ISM Manufacturing
3/10 Australia Consumer Confidence, NZ Dairy Auction, Australia New Home Sales, Australia Job Ads, Australia Building Applications, RBA Rate Decision
4/10 NZ House Prices, NZ Job Ads, Australia Services/Composite PMI, France/German/EU/UK Services/Composite PMI, EU Retail Sales, US Weekly Mortgage Applications, ADP Employment, US Manufacturing/Non-Manufacturing/Services PMI
5/10 Australia Trade, Australia Retail Sales, Challenger Jobs, US Weekly Jobless Claims, US Trade, US Factory Orders, US Durable Goods Orders
6/10 Australia Construction, German Factory Orders, UK House Prices, Non Farm Payrolls, US Employment
Paul Bettany
paul@collinsonfx.com
Collinson & Co
0406-744-923