6 things Australian traders will be talking about this morning

Photo: Cameron Spencer/Getty Images

Good morning.

To the scoreboard:

  • Dow: 24,083.83 +59.70 (+0.25%)
  • S&P 500: 2,639.40 +4.84 (+0.18%)
  • AUD/USD: 0.7564 -0.0037 (-0.49%)
  • ASX 200 SPI futures: 5,909 (-12)

1. After a sharp fall on Tuesday night, US stocks closed mixed this morning as the S&P500 pared losses from a tech selloff earlier in the session. ASX futures traders have trimmed a few points from Tuesday’s close after global mining stocks dipped overnight.
2. Bonds still front and centre: The 10-year Treasury yield held above the 3% level, reaching 3.035% at session highs while two-year bond yields edged higher to 2.49%.
3. And the greenback resumed its rally as the US dollar index hit a three-month high above 91. Amid increased USD strength, the Aussie battler is doing just that — battling — as it fell further below US76 cents overnight.

AUD/USD Hourly Chart

4. Meanwhile, the euro fell below $US1.22 ahead of tonight’s main event on global markets — the ECB’s interest rates announcement followed by a press conference on the 2018 outlook. In Australia today there’s the import/export price index at 11:30am AEDT.
5. On the subject of interest rates, Turkey’s central bank hiked rates by 75 basis points (0.75%) overnight — a bigger increase than expected — although there was only a modest rise in the Turkish lira. While the Mexican peso fell to a three-month low amid a stronger dollar and political uncertainty.
6. As US earnings season rolls on, Facebook reported Q1 earnings which beat analyst estimates in after-hours trade, while Twitter recorded its second-ever quarterly profit although the stock fell. And shares in Snap Inc. tanked after it announced plans to roll-back parts of its controversial redesign.

Have a great day.

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