The Aussie market is poised to open higher later this morning following a bullish night on Wall Street on Friday as investors embraced the European Central Bank’s stimulus measures and steadying oil prices drove up energy shares.
The SPI is up 40 points at 5,222.
Locally, in economic news today, the Reserve Bank of Australia is due to release credit and debit card lending figures for January.
No major equities news is expected.
Local data: NZ services index.
Overseas data: Hong Kong industrial production, PPI (4Q), Japan machine orders (Jan.), euro-zone industrial production (Jan.)
OPEC releases monthly oil market report.
The currencies of commodity exporters, including the Aussie, advanced on Friday after China’s central bank strengthened the yuan’s fixing by the most in four months, spurring demand for higher-yielding assets at the expense of those viewed as havens.
FX traders will be fixed on central banks in the days ahead with the RBA releasing its latest meeting minutes on Tuesday. Policymakers will meet this week at the Bank of Japan, US Federal Reserve and Bank of England. Fed chair Janet Yellen will hold a press conference early Thursday Sydney time.
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