ASX to run its own race with most major overseas markets closed

Published 30-MAY-2017 12:02 P.M.

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1 minute read

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US and UK markets were closed on Monday for Memorial Day and a bank holiday respectively.

Key commodities markets were also closed.

With few leads from major overseas markets there was little action in mainland Europe with the DAX gaining 0.2% to 12,628 points and the Paris CAC 40 virtually flat at 5332 points.

Consequently, the ASX is likely to march to the beat of its own drum on Tuesday.

While it is a busy week in terms of economic data, most of this is to be released between Wednesday and Friday.

Some of the more prominent domestic data to be released relates to private sector credit, retail sales and the housing industry, areas that are usually under the spotlight when the Reserve Bank is weighing up rate decisions.

This could see a busy end to the week after a relatively quiet day yesterday, and seemingly more of the same today.

This article is General Information and contains only some information about some elements of one or more financial products. It may contain; (1) broker projections and price targets that are only estimates and may not be met, (2) historical data in terms of earnings performance and/or share trading patterns that should not be used as the basis for an investment as they may or may not be replicated. Those considering engaging with any financial product mentioned in this article should always seek independent financial advice from a licensed financial advisor before making any financial decisions.



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