Australian Retail Sales & Trade Balance likely to move local market

October 5, 2017

Plenty of activity throughout the day, with a number of data releases from around the world set to keep investors interested. A number of central bank speakers are also due to speak.

The EUR/USD hovered in the mid $1.17 range as markets prepare for the Non-Farm payrolls tomorrow night. The pairing is currently trading at $1.1761, up from $1.1736 that it was trading at 24 hours earlier. The GBP/USD pairing continued to trade in the mid $1.32 range, currently at $1.3244. Both currency pairings are almost certain to be affected by the Non-Farm Payroll figure released late on Friday night.

US stocks finished mainly flat overnight, although all closed in positive territory. The S&P 500 was the best performer, up 3.16 points (+0.12%) to end the session at 2,537.74. The Dow added 19.97 points (+0.09%) to 22,661.64, meanwhile the NASDAQ closed at 6,534.63, up 2.91 points (0.04%). European stocks were a mixed bag, the FTSE ending the session flat, down 0.53 points (-0.01%) to 7,467.58, while the DAX ended 67.87 points up (+0.53%) to 12,970.52.

Turning to today and we turn local to Australia for significant data announcements. Shortly, the Retails Sales & Trade Balance data will be released. This has the potential to shift both the ASX and the AUD (including associated currency pairings), depending on the strength of the miss/beat. Other information set for release today include:

China – Bank holiday

Canada – Trade Balance

Europe – Swiss CPI, European PMI, ECB Monetary Policy Meeting Accounts

UK – Housing Equity Withdrawal, Monetary Policy Committee Members Ian McCafferty and Andy Haldane are due to speak

US – Unemployment Claims, Trade Balance, Factory Orders, Natural Gas Storage, Challenger Job Cuts, Fed Reserve Members Jerome Powell and Patrick Harker are due to speak