The Australian share market looks set to open lower, after upbeat sentiment evaporates on Wall Street and Europe’s key equity markets.
At 0829 AEST on Friday, the share price futures index was down eight points, or 0.13 per cent, at 6,054.
On Wall Street, the tech sector snapped its recent rally while investors trained their eyes on global trade tensions and upcoming US and European central bank meetings.
The Dow Jones Industrial Average rose 0.38 per cent, the S&P 500 was basically flat, losing just 0.07 per cent, but the Nasdaq Composite dropped 0.7 per cent, to 7,635.07 after three straight sessions of record highs.
Locally, no major economic or equities news is expected on Friday.
However, the federal parliamentary inquiry into the Franchising Code of Conduct is slated to begin public hearings at the Queensland Parliament building in Brisbane.
The first hearing of the Phi Finney McDonald class action against wealth manager AMP is listed the Melbourne registry of the Federal Court of Australia.
And, the postponed float by fintech business Prospa will now not go ahead on Friday as expected – it’s second delay.
The Australian market on Thursday closed higher for a second consecutive day, with broad-based gains led by the miners and supported by the energy and financial sectors.
The benchmark S&P/ASX200 index gained 32.3 points, or 0.54 per cent, to 6,057.3 points while the broader All Ordinaries index rose 32 points, or 0.52 per cent, to 6,169.4 points
Meanwhile, the Australian dollar has lost its recent shine, falling against a weakened US dollar and dropping against the other major currencies.
The local currency was trading at 76.25 US cents at 0700 AEST on Friday, from 76.47 on Thursday.
CURRENCY SNAPSHOT AT 0829 AEST:
One Australian dollar buys:
* 76.26 US cents, from 76.47 on Thursday
* 83.63 Japanese yen, from 84.15 yen
* 64.63 euro cents, from 64.77 euro cents
* 56.81 British pence, from 56.90 pence
* 108.50 NZ cents, from 108.52 cents
The spot price of gold in Sydney at 0829 AEST was $US1,297.23 per fine ounce, unchanged from Thursday.
BOND SNAPSHOT AT 0700 AEST:
* CGS 4.50 per cent April 2020, 2.2237pct, unchanged
* CGS 4.75pct April 2027, 2.844pct, unchanged
Sydney Futures Exchange prices:
* March 2018 10-year bond futures contract at 97.185 (implying a yield of 2.815pct), from 97.155 (implying a yield of 2.845pct) on Thursday
* March 2018 3-year bond futures contract at 97.7650 (2.250pct), from 97.735 (2.265pct).
(*Bond market closes taken at 1630 AEST previous local session; currency closes taken from 1700 AEST previous local session)