The S&P/ASX 200 closed up on Friday by 9 points, to finish at 4,872.20. The index had light trading volumes. The Australian Bureau of Statistics will release the data for motor vehicle sales for February.
The lead in from the US has seen the Aussie market open lower this morning.
On Friday the Dow Jones Industrial Average ended the session down by 37 points to 10,741.98. The US market is still sensitive to other global economies. The Euro dropped against the US dollar on Friday, and investors are still unsure on when the Greek debt crisis will be resolved.
Not only that, but the Reserve Bank of India (RBI) raised interest rates outside of their meeting, which also upset the US market. The increase in rates was anticipated for the April 20 meet. A statement released by the RBI said “…inflation had been a source of growing concern.”
In the UK, the FTSE was up by 7 points to 5,650.12. Bank stocks in the UK were all higher for the trading session. However the Footsie was dragged down by mining stocks as metal prices were lower and the US dollar gained some strength.
The Nikkei was up by 80 points, ending the session at 10,824.72.
Gold declined over USD$19 per ounce as the greenback started to climb again.
The price of spot gold in Australian dollars is trading at $1,210.23 while in US Dollars it is trading at $1,106.85. The price of silver in Aussie dollars is $18.50 and in US Dollars it is $16.92.
The Aussie dollar started the session lower against the US dollar this morning, thanks to the RBI’s rate rise.
The Aussie dollar versus the US dollar is USD$0.9149, and against the Japanese Yen JPY82.80.
Crude Oil closed at USD$80.30.
For the biggest movers on the market yesterday click here…
That’s all I have for you this morning, see you tomorrow.
Shae.
