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

By Trevor Hoey. Published at May 30, 2017, in Features

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.

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