To the scoreboard:
Dow: 25,803.19 (unchanged)
S&P 500: 2,786.24 +18.68 (unchanged)
AUD/USD: 0.7971 +0.0054 (+0.68%)
ASX200 SPI futures (March 2018 contracts): 6,013 (-13)
1. It was a case of another day, another round of US dollar selling as the greenback slid further against all the major pairs. The US dollar index is now at its lowest level since January 2015, although it was a quiet start to the week for global markets as the US was absent for the Martin Luther King Day holiday.
2. The AUD remains on the march towards US80c amid broad strength in commodity prices, as base metals — copper, zinc and nickel — all rose. Gold hit a four month-high amid the extended US dollar weakness. Benchmark crude oil is holding above $US70 a barrel, although iron ore fell again to start the week.
3. The euro hit a fresh three-year high on the back of more solid data including a higher than expected trade surplus. And ECB governing council member Ardo Hansson added to speculation the ECB will end asset purchases in September, noting the solid economic backdrop, after ECB president Mario Draghi left the bank’s quantitative easing program open-ended back in October.
4. Neo is on the rise: And we’re not talking about The Matrix, rather the platform-based cryptocurrency established in China. It’s been referred to as the Chinese version of Ethereum and is up around 300% over the last month, including a 30% gain overnight while most other major cryptos are trading in the red.
5. ASX200 futures traders are betting on a decline in stocks today, with no cue from the US while UK and European markets slid overnight. It follows a relatively lacklustre session yesterday in the wake of a strong global lead from Friday night, as the index was dragged higher by big mining stocks amid the rally in commodities.
6. JP Morgan’s guide to the markets: The global economy is off to a strong start this year although key risks still remain evident, and Business Insider has been provided with JP Morgan’s Q1 2018 markets outlook to help inform your strategic view. Check it out in slideshow form here.
Have a great day.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.