US markets finish quarter positive, GBP worst performing currency year to date, ASX SPI200 futures down 20 points

U.S. equity markets closed modestly lower overnight, with the S&P500 down 0.2%, while the Dow Jones Industrials and the Nasdaq 100 finished the trading session lower by 0.18% and 0.16% respectively. After a rocky start to the year, the S&P500 index closed up 1.02% for the 1st quarter, following an impressive five week rally from the February lows as investor confidence is returning. The U.S. dollar index (DXY) was down approximately 4% over the same period as the Federal Reserve lowered their interest rate hike guidance.  

European markets were lower overnight, with the DAX 30 index down 0.81% (down 7.23% for the quarter) while the FTSE100 closed 0.46% lower (up 0.15% for the quarter). The British pound continues to trade lower against the EUR on “Brexit” fears and while the recent declines look exhausted, overall I expect this to continue leading into the June 23rd vote and volatile period of European stock indexes. The first image below shows the performance of G10 currencies against the USD for the year to date, with the British pound the only negative currency down 2.61%.

Spot gold closed 0.91% higher overnight. The second chart below shows the precious metal up an impressive 16% from the start of January as investors piled into the safe haven asset on the back of further stimulus from the European Central Bank and Bank of Japan.

Looking to the local market, we can expect a weaker open this morning with ASX SPI200 futures trading 20 points lower while the Australian Dollar was 0.17% weaker overnight.


·         Chinese manufacturing & non-manufacturing PMI 12pm AEST

·         Euro-zone unemployment rate 8pm AEST

·         US unemployment & non-farm payrolls 1130pm AEST

·         USD ISM manufacturing 1am AEST 02/04/16

Source: Rivkin, Bloomberg, Updata

To view the Rivkin economic calendar and Global Markets matrix, members can click here.

This article was written by James Woods - Global Investment Analyst, Rivkin Securities Pty Ltd. Enquiries can be made via or by phoning +612 8302 3600.

Complex product warning

This article contains information about foreign exchange contracts, which are considered complex financial products. Please click here to read ASIC's foreign exchange trading article before considering an investment in foreign exchange contracts. 

This article contains information about CFDs, which are considered complex financial products. Please click here to read ASIC's "Thinking of trading contracts for difference?" document before considering an investment in CFDs.
comments powered by Disqus

DISCLAIMER: Rivkin aims to provide clear and simple information to those visiting our website. If any part of this disclaimer does not make sense, please phone Rivkin and ask to speak with a member of our Dealing and Relationship Management Team. Rivkin provides general advice and dealing services on securities, derivatives and superannuation (SMSF). Rivkin also provide SMSF administration and accounting services. Rivkin does not provide advice that takes into account your, or anybody else's, investment objectives, financial situation or needs. We strongly suggest that you consult an independent, licenced financial advisor before acting upon any information contained on this website. Investing in and trading securities (such as shares listed on the ASX) and/or derivatives (such as Contracts for Difference or 'CFDs') carry financial risks. CFDs carry with them various additional risks that differ from more simple securities such as fully-paid company shares. Some of these risks include not owning the underlying instrument from which a price is being derived, settling trades 'over the counter' with a financial institution rather than on a stock exchange, and using leverage to gain access to trades that may have a higher face value than your initial deposit. This risk of leverage means that it is possible to lose more than your initial investment. Our aim is to create more life choices for our clients, which means improving the wealth of clients throughout many market cycles by nurturing a relationship spanning many years. If you are not comfortable with your understanding of the risks involved before using a Rivkin product and service, please contact our office to seek further information or a Product Disclosure Statement, or make an appointment to sit with one of our friendly financial experts. It is in our interest for your Rivkin experience to be a rewarding and comfortable one. Rivkin is a trading name of Rivkin Securities ABN 87123290602, which holds Australian Financial Services Licence No. 332 802.