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ASX200 Midday Wrap 4 May 2018

Posted by Billy Macris on 04-May-2018 13:48:58

As lunch passes the ASX200 is trading at 6,063.80 down 37.47 or -0.57% with utilities  and financials leading the declines as both sectors are down -1.33% and -1.13% respectively. Across Asia, major indexes have also fallen away as the Nikkei is down -0.16% and the HANG SENG is -0.57% worse off.

The RBA released in statement on Monetary Policy this morning which the central bank edged up core inflation and unemployment forecasts for 2018 and reaffirmed that tighter policy will be needed “at some point.” The Reserve Bank of Australia predicted unemployment of 5.5% this year vs its 5.25% estimate in February and underlying inflation of 2% vs 1.75% three months earlier.

Investors will be awaiting U.S. jobs data – Nonfarm payrolls released at 10:30pm local time tonight where an increase from last month’s figure of 103,000 to come in at 192,000.

Advancers

  • Seven West Media (SWM) +6.06%
  • WiseTech Global (WTC) +5.39%
  • a2 Milk Co (A2M) +4.02%

Decliners

  • APN Outdoor Group (APO) -4.69%
  • Mayne Pharma Group (MYX) -4.19%
  • South 32 Ltd (S32) -3.09%

FOREX Majors

  • USDJPY 108.99
  • EURUSD 1.1994
  • AUDUSD 0.7556
  • USDCAD 1.2842
  • GBPUSD 1.3583

AUDUSD chart attached 

AUDUSD-4

Topics: ASX200 Midday Wrap