Uncut sheets of former U.S. President Abraham Lincoln on the five-dollar bill currency are seen at the Bureau of Engraving and Printing in Washington March 26, 2015.
IN PHOTO: Uncut sheets of former U.S. President Abraham Lincoln on the five-dollar bill currency are seen at the Bureau of Engraving and Printing in Washington March 26, 2015. The 150th anniversary of Lincoln's assassination at Ford's Theatre in Washington is April 15. REUTERS/Gary Cameron
  • In US economic data, the National Association of Home Builders index eased from 56 to 54 in May, below forecasts centred on a result near 57.
  • Chicago Federal Reserve president Charles Evans, one of the most dovish of voting members (favours rates to stay low for longer), has stated his preference for rate hikes to begin in 2016. But Evans said if the FOMC had confidence that inflation was going to move up and that first quarter economic softness was temporary, "you could imagine a case being made for a rate increase in June".
  • European shares rose on Monday with investors growing more hopeful that Greece will do a deal with its creditors. And shares in Volkswagen rose by 3.1% after a major broker lifted its price target for the stock. The FTSEurofirst 300 rose by 0.4% with the German Dax up by 1.3% and the UK FTSE was firmer by 0.1%. Mining shares were mixed in London trade with BHP Billiton up by 2.4% while Rio Tinto fell by 0.2%.
  • US sharemarkets ended with modest gains on Monday. Shares in Apple rose by 1.4% after billionaire investor Carl Icahn said the stock was "still dramatically undervalued". The Dow Jones rose by 26 points or 0.1% to record highs with the S&P 500 index up by 0.3% to a record high while the Nasdaq rose by 30 points or 0.6%.
  • US long-term treasury prices fell on Monday (yields higher) as traders booked profits on last week's price gains. Traders are also cautious ahead of the release of minutes from the last Federal Reserve meeting on Wednesday and data on consumer prices to be released on Friday. US 2 year yields rose by 2 points to 0.577% while US 10 year yields rose by 8 points to 2.23%.
  • Major currencies eased against the US dollar in US and European trade on Monday. The Euro fell from highs near US$1.1445 to around US$1.1300 and ended US trade around US$1.1310. The Aussie dollar fell from highs near US80.30c to around US79.75c before ending US trade near US79.85c. And the Japanese yen eased from near 119.53 yen per US dollar to JPY120.03 and was around JPY119.99 at the US close.
  • World oil prices eased on Monday. Pressuring prices was a stronger US dollar, making oil more expensive for European and Asian buyers. And Goldman Sachs issued a negative research note, expecting Brent to still be at US$55 a barrel in 2020. Brent crude fell by US54 cents or 0.8% to US$66.27 a barrel while US Nymex crude fell by US26c or 0.4% to US$59.43 a barrel.
  • Base metal prices on the London Metal Exchange were lower by up to 1.9% on Monday with aluminium and nickel leading the declines. But tin bucked the trend, up by 0.8%. The Comex gold futures price rose by US$2.30 an ounce to US$1,227.60 per ounce. Iron ore fell by US$2.00 or 3.4% on Monday to US$59.00 a tonne.
Ahead: In Australia, the weekly ANZ/Roy Morgan consumer confidence report is released. In the US, data on housing starts is
expected.
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