Market watch APAC
Australian financial markets will open this morning to the news that President Biden has decided to withdraw from the Presidential race.
Markets so far haven’t reacted much to this news, as it doesn’t come as a surprise given the recent conjecture about his leadership.
On Friday US share markets fell once again, the S + P 500 falling 0.7% on the day. This pushed total losses for the week to 2%, the worst since April.
The US dollar traded in a narrow range on Friday night, and the aud/usd followed, trading quietly within .6680 -.6710. Not much is expected to move the AUD this week with the next major data being inflation umbers on 31 July.
Most major commodities fell with oil down around 3% and iron ore posting a 1% loss.
