Overview of the Markets

In the United States, The Dow Jones industrial average fell 21.97 points, or 0.1 percent, to 16,558.87. The S&P 500 closed 0.1% down to 1,883.68 falling slightly from the previous sessions record highs as data showed an increase in jobless claims before the government’s monthly labor report tomorrow.

In commodities news the price of Gold dropped 0.96% to $1,283.40 USD/t oz, with Silver dropping 0.67% to $19.05 USD/t oz. Crude Oil also fell by 32cents to $99.42 a barrel for June delivery as Crude stockpiles continue to grow gaining 1.7 million barrels last week to 399.4 million, the most since the Energy Information Administration began reporting weekly data in 1982.

May started with a 0.1% decline.  The AUD has fallen in May in 7 of the last 9 years. In the last 4 years the Aussie has given up 7%, 3%, 9% and 7% respectively over the course of the month with ranges of up to 13% from top to bottom.