Quiet trading expected
Flat offshore leads should make for quiet trading today as investors await crucial domestic inflation data.
Flat offshore leads should make for quiet trading today as investors await crucial domestic inflation data on Wednesday.
SPI 200 futures fell one point to 5402 points on Friday night, pointing to a flat open for the S&P/ASX 200 share index when trading resumes this morning.
BHP Billiton’s American Depositary Receipts in Australian dollars slipped to $22.98 on Friday, suggesting the world’s biggest miner could edge down from $23.04 at Friday’s local close.
Both the EuroStoxx 50 and the US S&P 500 were basically flat on Friday, while the Dow Jones Industrial Average fell 0.1 per cent to 18145.71 points.
In currency markets, the Australian dollar hit a four-day low of $US75.88 and was trading around $US76.08 late on Friday after falling in the wake of disappointing employment data last week.
“The major focus will be on Wednesday’s CPI and whether it will be on the RBA’s forecast track,” said Ray Attrill, global co-head of FX Strategy at National Australia Bank. “We expect it will be, coming with a likely kick in headline inflation, thanks to fuel and some food.”
Economists are mostly expect headline inflation for the September quarter to creep up to 0.5 per cent from 0.4 per cent last quarter.
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