On Friday the S&P/ASX200 inched up, closing at 4,818.10, higher by 3 points. The lead in from the international markets is mixed but you can expect a flat trading day.
The Australian Bureau of Statistics will release its lending data for January today.
China’s 10-day parliamentary session ended last week, with the Chinese Prime Minister, Wen Jiabao sharing his thoughts in a two hour conference. Mr. Wen continues to resist international pressure to raise the value of China’s currency, which is currently pegged to the US dollar. Experts suggest that the yuan is undervalued by 20%, giving China an unfair advantage in the market. Read more here.
Over in the US, the Dow Jones Industrial Average finished at 10,624.69, higher by 12 points. Mixed reports kept the Dow flat for the day. Retail data for February showed retail sales were up, even though this figure was expected to drop. However, consumer sentiment was lower.
The Dow is up 0.55% for last week.
In the UK, the FTSE was higher by 8 points, ending the session at 5,625.65. It was a flat day for the Footsie. Overall the Footsie is up 0.5% for last week.
The Nikkei was higher by 86 points, closing at 10,751.26.
The price of spot gold in Australian dollars is trading at $1,201.79 while in US Dollars it is trading at $1,102.25. The price of silver in Aussie dollars is $18.63 and in US Dollars it is $17.09.
The Aussie dollar versus the US dollar is USD$0.9189, against the Japanese Yen JPY83.25
Crude Oil closed at USD$81.24
For the biggest movers on the market yesterday click here…
That’s all I have for this Monday, see you tomorrow.
Shae.
{ 4 comments… read them below or add one }
“”"60 Second Market Wrap???????????”"”"”"”"”"”"”"”"”"
property bubble still going thru da roooff……………………………………..
Read UNCTAD report on Yuan. It is likely 10% undervalued against the USD. They support global demand by increasing consumption like noone else and get kicked in the nuts for it. Tell the freaked out rent seeking Americans to take their deflationary pill and get productive and collapse their military
Good points, Ciao. But probably all to no avail if they don’t at the same time take care of their bankers who, instead of serving and partnering the American people wealth creation and value generation, are hellbent on doing God’s work.
http://www.businessspectator.com.au/bs.nsf/Article/Pulling-the-plug-on-the-US-or-Turning-off-US-life–pd20100317-3LRVA?OpenDocument&src=mp