On Tuesday, the S&P/ASX 200 ended the day only 11 points higher, closing at 4,497.40.
Coming out today is the consumer price index (CPI) data for June. Economists are expecting figures to increase 1% for the quarter, which would mean annual increases have risen 3.4% for the year.
The Dow Jones Industrial Average gained 12 points last night to close at 10,537.69. The consumer confidence gauge dropped almost four points to 50.4, its lowest reading since February this year. Consumers are still concerned about the job market in the US.
The FTSE closed at 5,365.67, up by 14 points. The Footsie finished higher thanks to the banking sector. Banks were boosted by news that the Basel Committee’s regulatory reforms would be watered down.
The Nikkei finished at 9,496.85, down by 6 points.
Gold dropped to a three month low overnight. The equities markets have stabilised which has slowed down ‘the-run-for-cover’ attitude that was pushing gold higher back in May and June.
The price of spot gold in Australian dollars is $1,287.64, while in US dollars it’s $1,160.45. The price of silver in Australian dollars is $19.56 and in US dollars it’s $17.62.
The Aussie dollar versus US dollar is AUDUSD 0.9013 and against the Japanese Yen it’s AUDJPY 79.14.
Crude Oil closed at USD$77.09.
For the biggest movers on the market yesterday click here…
That’s all I have for you this morning, see you tomorrow.
Shae.
