6 things Australian traders will be talking about this morning

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Good morning and happy Friday.

To the scoreboard:

Dow: 24,483.05 +293.60 (+1.21%)

S&P 500: 2,663.99 +21.80 (+0.83%)

AUD/USD: 0.7757 +0.0003 (+0.04%)

ASX200 SPI futures (June contracts): 5,815 (+18)

1. The S&P500 posted a solid gain overnight, as President Trump wound back his rhetoric about an attack on Syria and held discussions on more open trade deals. The focus now turns to quarterly earnings season, starting tonight with JPMorgan Chase, Wells Fargo and Citigroup all set to report.

2. In line with a more risk-off tone in global markets, US 10-year bond yields rose 5 basis points to 2.84% and gold fell by 1.4% to $US1,335 an ounce.

3. The US dollar index made up some ground after falling for three straight sessions. It posted gains against the yen and the euro, as Europe’s poor run of recent data continued with a miss on industrial production figures.

4. But the Aussie dollar held up and traded in a narrow range against the greenback. Today in Australia there’s the RBA’s semi-annual financial stability review, while key data in the region will be led by Chinese trade numbers scheduled for 1pm AEST.

5. Bitcoin goes bananas: Prices spiked by 14% in less than an hour overnight, and briefly rose above $US8,000 as activity returned to the market after a quiet week of price action.

6. Oil had a volatile session and finished lower after surging to a three-year high on Wednesday. Iron ore fell again, and Deutsche analysts predict it will trade within a $US60-70-a-tonne range this year.

Have a great weekend.

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