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ASX, AUD up amid Crypto tumble, jobs data released today

·Contributing editor
·2-min read
Here's what to expect for finance markets for Monday. Source: Getty
Here's what to expect for finance markets for Monday. Source: Getty

Good morning.

Here's everything you need to know for finance markets this morning.

ASX: The Australian share market is expected to open the week slightly higher this morning. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1 per cent higher.

Wall Street: Wall Street saw a positive end to the week, with the Dow Jones rising 0.5 per cent, the S&P 500 climb 0.9 per cent, and the Nasdaq storm 1.5 per cent higher on Friday.

AUD: The Australian dollar is trading at 0.7748 to the US dollar as at 7.40am this morning.

Oil: It could be a positive start to the week for energy producers after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price rose 1.2 per cent to US$69.62 a barrel and the Brent crude oil price rose 0.8 per cent to US$71.89 a barrel. Oil prices recorded strong weekly gains thanks to OPEC’s promise to be disciplined with its production.

Gold: Gold miners will be on watch today after the gold price rebounded on Friday night. According to CNBC, the spot gold price rose 1 per cent to US$1,892.00 an ounce. This appears to have been driven by softening bond yields. This wasn’t enough to stop the gold price from recording a small weekly decline.

Cryptocurrency: Bitcoin and other major cryptocurrencies continued to fall on Sunday after reports Chinese social media site Weibo suspended "key opinion leaders", reigniting fears of further crack down in the country.

Morrison: The coalition has drawn level with Labor on a two-party preferred basis for the first time in months but support for Prime Minister Scott Morrison has dropped. The parties are locked at 50-50 on a two-party preferred basis with support for the coalition up from 49 per cent in May.

Jobs data: Treasury chief Steven Kennedy told senators last week many of the people out of work as a result of the JobKeeper wage subsidy ending should find employment in coming weeks. The latest ANZ job advertisement report for May due for release today will outline the strength in demand for workers to potentially absorb those job losses.

House deposit: Even with Government help, potential homeowners still have to save up a large amount to get a deposit (20 per cent and more). Here's an easy way to do it, without having to turn to the bank of mum and dad.

Have a great day!

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