6 things Australian traders will be talking about this morning

Camilla Rutherford / Getty Images

Good morning.

To the scoreboard:

Dow: 24,899.41 +68.24 (+0.27%)
S&P 500: 2,730.13 +2.41 (+0.09%)
AUD/USD:0.7525 -0.0002 (-0.03%)
ASX200 SPI futures (June contracts): 6,122 (+1)

1. US stocks rose at the open amid news that Washington and Beijing are working on a deal to help ZTE — the Chinese manufacturer paralysed by recent US tariffs. Markets edged lower into the close but the Dow still managed to eke out its eighth straight day of gains.

2. The euro and the US dollar fluctuated on central bank jaw-boning either side of the Atlantic. Bullish comments by the Bank of France governor were offset by Loretta Mester from the US Fed who expects inflation to stay above the 2% target.

3. Global bond yields rose overnight, with benchmark US 10-year treasury yields back over 3% this morning. Yields in Europe also climbed across the board with German 10-years up 5 basis points to 0.61%.

4. Brent crude rose above $US78 a barrel after an OPEC report showed member-states are scaling back more than what is required under the production cuts deal. And iron ore hit a multi-month high.

5. And cryptos started the night in negative territory as Consensus — a three-day cryptocurrency conference — got underway in New York. A short time ago, bitcoin had rallied back and was pushing back towards $US9,000.

6. Data today: There’s the minutes from the RBA’s May rates meeting (11:30am AEST) and China has retail sales, urban investment and industrial production figures. Also, RBA deputy governor Guy Debelle will give two speeches. Key data tonight will be led by US retail sales and Germany’s ZEW business sentiment survey.

Have a great day.

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