Australian market set to open flat

The Australian market looks set to open flat, following a rocky night on Wall Street where shares were in and out of negative territory..

At 0703 AEDT on Friday, the share price futures index was unchanged at 5,598.

In the US, stocks reversed course and were up slightly on Thursday, as a rise in consumer shares helped offset losses in financials, but investors remained cautious over President Donald Trump's isolationist policies.

But the major indexes lated did another about-turn and headed back into the red, with the Dow Jones Industrial Average down 0.18 per cent, the S&P500 0.12 per cent worse off and the Nasdaq having dropped 0.21 per cent by 3pm EST (0703 Friday AEDT).

Locally, no major economic news is expected on Friday.

In equities news, James Hardie is expected to post third quarter results.

The local share market on Thursday paid little heed to surprisingly strong trade figures showing that Australia's trade surplus skyrocketed 72 per cent to a record $A3.5 billion.

Investors instead responded to weakness on the US futures market.

The benchmark S&P/ASX200 index fell 7.8 points, or 0.14 per cent, to 5,645.4 points while the broader All Ordinaries index dropped 7.6 points, or 0.13 per cent, to 5,696.4 points.

Meanwhile, the Australian dollar has extended its gains after soaring past the 76 US cent mark after the trade data.

The local currency was trading at 76.61 US cents at 0703 AEDT on Friday, from 76.43 on Thursday.

CURRENCY SNAPSHOT AT 0700 AEDT:

One Australian dollar buys:

* 76.61 US cents, from 76.43 on Thursday

* 86.35 Japanese yen, from 86.03 yen

* 71.18 euro cents, from 70.81 cents

* 61.18 British pence, from 60.31 pence

* 105.08 New Zealand cents, from 104.75 NZ cents

BOND SNAPSHOT AT 0700 AEDT:

* CGS 5.25 per cent March 2019, 1.818pct, from 1.819pct

* CGS 4.25pct April 2026, 2.708pct, from 2.709pct

Sydney Futures Exchange prices:

* March 2017 10-year bond futures contract at 97.215 (implying a yield of 2.785pct), from 97.2 (2.8pct) on Thursday

* March 2017 3-year bond futures contract at 98.03 (1.97pct), from 98.02 (1.98pct).

(*Currency closes taken at 1700 AEDT previous local session, bond market closes taken at 1630 AEDT previous local session)

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.7687+0.0012+0.16%
    AUDUSD=X
    0.6195+0.0041+0.67%
    AUDGBP=X
    0.7262-0.0009-0.12%
    AUDEUR=X