With traders in the UK and US set to return to their desks we expect trading volumes to recover over the next 24 hrs. RBA hold their policy meeting at 11:30 AEST, although no change is expected.
The British pound is on track to be this month’s strongest major whilst the US dollar sits at a three-month low. A host of data from Japan and Australia kicks off today’s session, although the US could be quieter than usual due to a three-day weekend.
Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price pushed higher on Friday night. According to CNBC, the spot gold price rose 0.35% to US$1,905.30 an ounce. This meant the precious metal climbed 1.4% over the five days, thanks partly to a pullback in bond yields and the US dollar.
Inghams rated as a buy
The
Inghams Group Ltd(ASX: ING) share price may have jumped 8% on Friday but analysts at Goldman Sachs still see a lot of value in the poultry producer. In response to its trading update, the broker has retained its buy rating and lifted its price target to $4.50. This compares to the latest Inghams share price of $3.40.