Market Outlook

The Week Ahead: Can the Australia 200 index crack 7,000?

We have another huge week of data ahead of us. Traders will be watching closely and looking to China as we see GDP and trade related data. And given the number of global trade disputes running at the moment, the volume of trade to and from China will be an important part of market thinking around the global outlook.  

We’ll also see retail sales and industrial production data from China as well as important inflation data from the U.S. Now, inflation has only shown up in producer prices. If we see inflation showing up in consumer prices with the read-on CPI this week that could change the conversation that’s going on between bond traders and central banks all around the globe. We’ll also, see in Australia, local job numbers so plenty on the data front.  

We’ve also got U.S. company reporting coming up. We get underway in earnest this week with the reports from financial companies. We’ll hear from Goldman Sachs, City Bank, Bank of New York Mellon, Wells FargoBlackrock and several others. This could shape the response to reporting season this week.  

We’ll also be looking at the results from Delta Airlines, given the impact the Covid closures have had on their business. In other trading news, we’ve seen cryptocurrencies come roaring back to life on Monday morning. We had a very quiet week for cryptocurrencies, quite unusual for that space. That all changed this morning, CMC’s all crypto index is up by 7% on the morning and we’re looking at a 20% gain for Stellar Lumens, one of the leaders of this big rally. So, we could see further volatility and return to leadership for volatility by the cryptocurrency markets over the course of this week.  

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