Here's Your 20-Second Guide To What Aussie Traders Will Be Talking About This Morning

Getty/Spencer Platt

Your morning market update could be more exciting. Sorry about that.

– A fairly quiet night on the data front but there was enough in the French and Italian falls in Industrial Production (-0.3% and 0.9% respectively) to trouble European stock markets with the CAC down 0.13%, the FTSE MIB down a smidge at 0.05% and stocks in Madrid off 0.89%. In London, the FTSE rose 0.31% and the CAC liked the bad news, rising 0.21%.

– On US stock markets, there is not much action happening as traders await Janet Yellen’s first walk up to Capitol Hill as Fed Chair tonight Australian time. As an accomplished central banker, it is unlikely that she will put a foot wrong but she is likely to be quizzed on the state of the economy and in particular, the state of the US employment market.

– At the close, the Dow is up 0.05%, the Nasdaq up 0.54% and the S&P 500 has moved just 3 points higher to 1800. Locally, the March SPI 200 contract is up 5 points to 5174 bid.

– On the bonds, the 3’s are down 1 point to 96.97 (3.03%) while the 10’s are 1.5 points lower at 95.895 (4.105%).

– On global FX markets, it was all quiet as well, with the euro higher but only just at 1.3635, GBP down 0.05% at 1.6400 and USDJPY down a little at 102.19 but off the low of 101.97. The Aussie is a little weaker at 0.8941 but a fall of 0.2% is nothing in real terms.

– There was some action on commodity markets however, with the gold price up $11.50 or 0.91% to $1,274.60. Silver bounced 1.97% with the precious metal move suggesting there is lingering fears about the state and future direction of markets. Copper sits at $3.27 lb, while on the Ags, Corn fell 0.34%, Wheat rose 1.26% and Soybeans fell 0.45%. Crude slipped just slightly back under $100 Bbl this morning at $99.94. Bitcoin’s crash continued with the trouble at the Mt Gox exchange weighing on prices – at Mt Gox this morning BTC is trading at $581 while it is trading around $660 at the BTCE and Bitstamp exchanges.

On the data front today we get the first public release of the ANZ-Roy Morgan Weekly Consumer Sentiment survey. We also get Home Loan and House Price data along with the NAB’s Monthly Business Survey. Tonight, it’s a US focus on Yellen speaking.

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