ASX
An investor is reflected in a window as he looks at boards displaying stock prices and an advertisement for zero percent interest rate for purchasing a car at the Australian Securities Exchange in central Sydney, Australia, July 8, 2015. Reuters/David Gray
  • In US economic data, the Empire State manufacturing index fell from +3.86 to minus 14.92 in August (forecast +5.00) - the lowest reading since April 2009. But the NAHB housing market index rose from 60 to 61 in August, in line with forecast.
  • European shares eased with investors digesting weak Japanese economic growth figures, mixed US data and news of a bombing at a Bangkok shrine. The FTSEurofirst 300 fell by 0.1% with the German Dax down by 0.4% while the UK FTSE index was largely unchanged. In London trade mining shares were lower with BHP Billiton down by 1.4% and Rio Tinto down by 0.7%.
  • US sharemarkets fell at the open of trade in response to the Empire State survey result but recovered after a favourable survey of home building activity. The profit-reporting season is winding down. Thomson Reuters said that with 92% of the S&P 500 companies having reported so far, second-quarter earnings were up 1.2% with revenue down 3.5%. After being down 135 points, the Dow Jones ended higher by almost 68 points or 0.4% with the S&P 500 up by 0.5% while the Nasdaq gained over 43 points or 0.9%.
  • US treasury prices rose modestly on Monday (yields lower) after data showed a slump in manufacturing activity in the New York region. US 2 year yields fell by 2 points to 0.71% while US 10 year yields fell by 2 points to around 2.17%.
  • Major currencies were mixed over the US and European sessions. The euro fell from near US$1.1125 to US$1.1060, ending US trade near US$1.1075. The Aussie dollar rose from lows near US73.40c to highs around US73.85c before ending US trade near US73.75c. And the Japanese yen lifted from 124.57 yen per US dollar to JPY124.22 before ending US trade around JPY124.44.
  • World oil prices eased again. Data showed that the Japanese economy contracted in the June quarter and there were continued concerns about the health of the Chinese economy. Brent crude fell by US45c or 0.9% to US$48.74 a barrel while US Nymex crude fell by US63c or 1.5% to US$41.87 a barrel.
  • Base metal prices fell by up to 1.5% on the London Metal Exchange with lead down the most. But tin rose 1.5% with nickel up 0.2%. The Comex gold futures price rose by US$5.70 or 0.5% to US$1,118.40 per ounce. Iron ore fell by US20c to US$56.00 a tonne.

Ahead: In Australia, minutes of the last Reserve Bank Board meeting are released together with weekly consumer confidence and new car sales data. In the US, building permits and housing starts are released with weekly chain store sales data.

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