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Australian stocks to open flat


Australian stocks are expected to have a flat opening, following losses on Wall Street and in commodity prices.

At 0700 AEDT on Tuesday, the Australian share price futures index was up three points, or 0.05 per cent, at 5,992.

In the US on Monday, the S&P 500 and the Dow Jones index fell as worries about the metal tariffs signed into law last week by President Donald Trump weighed on industrial stocks..

The Australian share market on Monday closed higher after regional markets lifted on jobs data positivity out of the US and Australian markets strengthened on the exemption from US tariffs on imported steel and aluminium..

The benchmark S&P/ASX200 was up 32.9 points, or 0.55 per cent, at 5,996.1 points, while the broader All Ordinaries index ended up 32.3 points, or 0.53 per cent, at 6,101.4 points.

In economic news on Tuesday, the Australian Bureau of Statistics releases housing finance data for January, the ANZ-Roy Morgan Consumer Confidence weekly survey is out, and the National Australia Bank monthly business survey is released.

Also on Tuesday Reserve Bank Assistant Governor (Financial System) Michele Bullock speaks at the Seamless Australia Payments Conference, in Sydney

The Australian dollar is slightly higher, but has pared its gains late in the offshore session, as US stocks lost ground.

At 0700 AEDT on Tuesday, the local currency was worth 78.80 US cents, up from 78.70 US cents on Monday.


One Australian dollar buys:

* 78.80 US cents, from 78.70 on Monday

* 83.82 Japanese yen, from 83.93 yen

* 63.85 euro cents, from 63.88 euro cents

* 56.65 British pence, from 56.78 pence

* 107.98 NZ cents, from 107.57 cents


The spot price of gold in Sydney at 0700 AEDT was $US1,323.74 per fine ounce, from $US1,322.57 per fine ounce on Monday.


* CGS 4.50 per cent April 2020, 2.0316pct, unchanged from Monday

* CGS 4.75pct April 2027, 2.7686pct, unchanged

Sydney Futures Exchange prices:

* March 2018 10-year bond futures contract at 97.205 (implying a yield of 2.795pct), from 97.188 (2.812pct) on Monday

* March 2018 3-year bond futures contract at 97.860 (2.140pct), from 97.845 (2.155pct).

(*Bond market closes taken at 1630 AEDT previous local session; currency closes taken from 1700 AEDT previous local session)