Flash PMIs to Kick-Start the Week

AUD

The AUD opens flat against most majors, having travelled lower on Friday in the aftermath of Thursday's weaker employment report, before getting a lift at this morning's open. Stocks and commodities coming in mixed with ASX seeing positive growth of 0.2% while Shanghai Comp dropping by 1.3%. Silver seeing the biggest fall over the weekend with a -1.6% shift while Gold and Natural Gas at
-0.7% and 0.5%. This morning, Australia's Flash PMIs were released with expansion in both the manufacturing and services sectors at 52.6 and 51.2 respectively. The expansion in output was driven by higher new business growth, though export orders declined. The major data event for the week will be on Wednesday with CPI y/y expected at 2.5%.
 

USD

The AUDUSD opens down at 0.6281 after Trump emphasised his administration’s tax cuts, claiming they were a major driver of economic growth during his first term. He argued that his tax policies helped create jobs and raise wages, especially for working-class Americans. He promised to bring back similar policies, including lowering corporate tax rates, if he wins again. US equities coming in with some positive growth NASDAQ increasing by 0.5% and S&P 500 as well as Dow Jones with a not so drastic change growing up 0.1%. Overnight we have Flash Manufacturing and Services PMIs being released with both expected in expansionary territory. It's a data-packed week ahead for the USD, including GDP, Unemployment Claims and the Core PCE Price Index.
 

EUR

The AUDEUR opens flat at 0.5806 trading lower in the back half of last week off Euro strength before reclaiming the 0.58 handle this morning. Equities both seeing a very similar fall with DAX coming in at -0.5% and CAC at -0.6%. Tonight, we'll see Eurozone PMIs with expectations of a continuation of the current trend: Expansion in the services sectors, contraction in the manufacturing sectors.
 

GBP

The AUDGBP opens flat at 0.4865. The FTSE fell -0.6% in Friday's session. Later today we'll see Flash PMIs for the UK. Tomorrow morning, we also have BOE Gov Bailey speaking about the UK economy.
 

NZD

The AUDNZD opens flat at 1.0943 after touching near-6-month lows of 1.0911 over the weekend. An empty data calendar for the Kiwis this week.