6 things Australian traders will be talking about this morning

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Good morning.

To the scoreboard:

  • Dow: 24,448.69 -14.25 (-0.06%)
  • S&P 500: 2,670.29 +0.15 (+0.01%)
  • AUD/USD: 0.7606 -0.0067 (-0.87%)
  • ASX 200 SPI futures: 5,874 (+6)

1. The greenback is on the move as the US dollar index rose for the sixth straight session overnight to finish just shy of 91 – the highest level since January 15th. The USD posted solid gains across the board and the Aussie wasn’t spared — it’s holding just above US76 cents this morning.

2. AxiTrader’s Greg McKenna said a move below 0.7590 could see the AUD fall towards 0.7475 US cents. So the Aussie is under pressure ahead of today’s all-important inflation data. David Scutt’s 10-second guide has everything you need to know.

3. With the USD strengthening, benchmark US 10-year bond yields stayed on the brink of the 3% mark overnight after edging higher yesterday in Asian trade. And Blackrock’s head of fixed income said overnight that he expects bond yields to move higher in the second half of the year.

4. Oil prices rallied to three-year highs, even after Iran said OPEC cuts could expire in December. Fears that the Trump administration will impose sanctions on Tehran and new reports of falling US oil inventories helped counter Iran’s announcement.

5. US stocks were mixed to start the week, with losses in technology shares and major aluminum company Arconic Inc. As earnings season rolls on, Google’s parent company Alphabet beat revenue expectations in its results announced after the closing bell.

6. And in cryptos, Bitcoin is still hovering just below $US9,000 while Bitcoin Cash has gained 80% in the past week. Meanwhile, Goldman Sachs is looking into the establishment of a crypto trading desk.

Have a great day.

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