The market is in for a mildly positive start.
The ASX Futures is up 0.2 per cent with the Australian market holding its own following last week’s gyrations with geopolitics dominating the news. It was a week that saw US president Donald Trump putting pressure on China with the threat of tariffs, political tensions over immigration to Germany and investor concerns about rising oil prices.
The MSCI All-Country World index, tracking stocks in 47 countries, was up down 1.3 per cent on the week, its worst weekly result since mid-March.
On Wall Street, the Dow fell 2 per cent, its weakest weekly performance since late March. The S&P 500 shed 0.9 per cent and the Nasdaq lost 0.7 per cent.
The Australian market however bucked the trend, gaining 2.2 per cent for the week, reaching its highest level since early 2008, before the global financial crisis.
It will be a relatively quiet week in terms of data with the latest figures on Australian Bureau of Statistics job vacancies on Thursday as well as credit growth and new home sales figures on Friday.
On Tuesday, the RBA’s Head of Payments Policy, Tony Richards, will be speaking at the Australian Business Economists gathering on the subject of cryptocurrencies.