The Australian equity market is expected to open in negative territory but well off their lows after news that Greece will receive another bailout payment.
The Dow Index fell for a sixth-consecutive session, falling 97 points to finish at 12,835 while the S&P 500 erased 9.14 points to close at 1,354.58. Earlier in the session the German benchmark Index, the Dax edged up late in the session to end 0.47 percent in the green at 6475.30 after a senior euro zone official announced that the European Financial Stability Facility agreed to make a 4.2 billion euro payment in emergency aid to Greece.
On the economic front the US Commerce Department released numbers that showed that wholesale inventories rose a less-than-expected 0.3 percent in March to $480.4 billion, after an unrevised 0.9 percent gain in February.
Gold (see above chart) dropped to near lows for 2012 as political uncertainty in Greece and Spanish bank worries urged investors to dump bullion for the third consecutive day.
WTI crude oil prices continued south for a sixth-straight day which is the longest losing streak in almost two years to settle under $97 a barrel after US crude supplies rose.
INDICES
Last Traded
SPI 200 future 4250
S&P500 Index 1354
Dow Jones 12835
FTSE 100 Index 5530
COMMODITIES
Last Traded
Gold 1591
Oil (Nymex) 94.40
CURRENCIES
Last Traded
AUDUSD 1.0047
EURUSD 1.2935
GBPUSD 1.6131
USDJPY 79.64
Source
Bloomberg, Dow Jones News
http://www.vantagefx.com/market-news/market-wrap/