S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures are pointing to a weaker start of around -0.2% this morning following overnight US markets that lacked direction.
The S&P 500 Index (INDEXSP:.INX) closed at 3,237.18 down 9.10 or -0.28% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 9,068.58 down 2.88 or -0.032%.
Our share market may well find support today due to the falling dollar which is down over 1% in the last 24 hours.
After trading above 70 cents in recent weeks, AUDUSD continues to fall, crashing through 69 cents overnight to be trading at around 0.6864.
Our struggling currency makes our market and domestic assets more appealing to foreign investors and could attract offshore inflows today.
Gold remains elevated at US$1,576 per ounce, up around 0.5% in the last 24 hours while Crude Oil WTI is down 0.55% at US$62.97 per barrel.
[VIDEO] Morning Report – US sharemarkets were mixed on Tuesday. Investors monitored tensions between the US and Iran. But US economic data was generally positive.https://t.co/BDZ3Yre7rm#CommSec #ausbiz
— CommSec (@CommSec) January 7, 2020