The UK Election, counter terrorism and US politics have the markets on tender hooks

Yesterday’s markets

7th June 2017

  • AUD - RBA Rate Statement
  • AUD - GDP q/q: 0.3%
  • AUD - Cash Rate: 1.50%

In the final days before the General Election, May has announced she will change the human rights laws if they ‘get in the way’ of tackling terror suspects, making it easier to deport foreign terror suspects and ‘restrict the freedom and movements’ of them if they present a threat. The statement came after it was discovered the third attacker from the attacks on Saturday night, was put on the EU-wide watch list after he was stopped in an airport in Italy on his way to Turkey, with concerns he would continue to Syria to fight, last year.

Tomorrow, James Comey is scheduled to testify before the Senate Intelligence committee in regards to his conversations with Donald Trump in the months prior to his firing. The conversations relate to the investigation of the alleged connection between Moscow and Trump’s campaign. Comey will testify and then the intelligence committee will continue to listen to him and ask questions behind closed doors.

The topics are likely to include the memo in which Trump asked Comey to drop the investigation into Michael Flynn, whether the allegations are true that President Trump asked Comey for personal loyalty and his reasoning behind why he went public with the Clinton investigate back in July. 

Today’s markets

6th June 2017

  • USD - Crude Oil Inventories
  • AUD - Trade Balance
  • CNY - Trade Balance

Economic data releases are fairly light today as the markets start to prepare for the main events of tomorrow.

The Crude Oil Inventories, which affect the Greenback and the Loonie, are a weekly measure which establishes the change in the number of barrels of crude oil held in inventories.