Setting The Tone For A Strong Start: ASX Set For A 1% Surge, But Volatility Remains A Threat

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The Australian share market is poised to start the week on a strong note, following in the footsteps of Wall Street’s performance on Friday.

However, as is often the case in periods of market volatility, analysts and experts have cautioned that a busy week of economic data releases could introduce higher levels of volatility across the week.

AMP Capital head of investment strategy Shane Oliver was quoted as saying, “It looks like we’re going to have a fairly good open because Wall Street rallied again on Friday.” 

Mr Oliver went on to say that he expects the market to be driven by earnings reports this week, as well as by global economic data.

What to Expect This Week

This week is shaping up to be busy, with several key economic data releases scheduled. On Tuesday, the Reserve Bank of Australia (RBA) will release its monthly policy statement, which is widely anticipated to keep rates on hold at 0.75%. However, any commentary on future policy direction could move the markets.

Wednesday will see the release of minutes from the RBA’s most recent meeting and data on retail sales and inflation expectations. Thursday will likely be another big day, with job ads data and trade balance figures being released. Finally, building approvals and housing finance data will be released on Friday.

Of course, all eyes will also be on Wall Street this week, where major US companies such as Facebook, Alphabet (Google’s parent company), Amazon and Microsoft are set to report their latest quarterly earnings. Strong results from these tech giants could provide further support for global equity markets.

Key releases from Australia and overseas could see increased volatility across asset classes, so traders are advised to maintain disciplined risk management practices. Stay up-to-date with the latest happenings by following our traders’ live coverage during market hours.

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