Volatility Remains High But Stock Markets Rose Friday

ASX futures are up slightly this morning following positive international leads on Friday night. This is despite the increasing geopolitical risks (such as the US response to the Syrian chemical attack and rising tension between the US and Russia). Over the last week volatility remained high. US shares rose 2%, Eurozone shares rose 1.2%, Japanese shares gained 1%, Chinese shares rose 0.4% and Australian shares rose 0.7%.

This increasing tension saw bond yields, commodity prices and the Australian dollar rise, up more than one US cent from the previous week at 77.64. In particular, we saw oil, gold and iron ore rise and this should flow through to a higher resources sector today.

As far as events in the diary for this week are concerned, there’s China’s first quarter GDP data tomorrow, Australian jobs for March on Thursday, a slate of corporate earnings in the US and quarterly production and exploration reports in Australia, and data releases from Japan, the US and Europe.

Data Releases:

-    US Retail Sales 10:30pm AEST

-    US Empire State Manufacturing Index 10:30pm AEST

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This article was written by Shannon Rivkin - Investment Director, Rivkin Securities Pty Ltd. Enquiries can be made via william.oloughlin@rivkin.com.au or by phoning +612 8302 3633.

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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.
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