Live updates: ASX set to fall on week lead from Wall St, uncertainty in French, UK elections and weak Chinese dataThe ASX has been given a weak lead by Wall St and European markets and looks set to open 0.5 per cent lower.
So, before you get to work on pulling together all your bits and pieces for the ATO, maybe grab a cuppa and check out what happened.Australian manufacturing activity and conditions have continued to weaken, according to the latest Purchasing Manufacturing Index data from Judo Bank. Inventory levels also fell goods as producers indicated reluctance in holding additional inventory during a period of falling demand.
We'll have to wait to Tuesday to read the RBA minutes from the June board meeting where rates were kept on hold, but they may be already a bit dated given last week's hotter than expected monthly inflation data. The official purchasing managers' index , released by the National Bureau of Statistics on Sunday came in at 49.5 for June.
"However, the room for monetary policy easing is limited for the time being, as the Chinese currency is under pressure," Hao told Reuters. AMP chief economist Shane Oliver noted the trend monthly growth has cooled from the highs seen mid last year The ASX 200 looks likely to slip on opening, with the ASX SPI futures trading down 0.5% over the weekend after Wall Street closed lower.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »