5 things to watch on the ASX on Monday

On Friday the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) finished the week on a high and climbed an impressive 1.3% to 6,094 points.

Will the local market be able to build on this on Monday? Here are five things that could shape the day’s trade:

ASX futures are flat.

The Australian share market is expected to open the day flat on Monday. According to the latest SPI futures, the S&P/ASX 200 is poised to open flat at around 6,100 points following a disappointing end to the week on Wall Street. The Dow Jones Industrial Average finished the week with a 0.3% decline, the S&P 500 fell 0.1%, and the NASDAQ was off 0.2% due to trade war concerns.

Oil prices tumbles.

Energy producers such as Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices finished the week deep in the red. According to Bloomberg, the WTI crude oil price closed the week with a 2.7% decline to US$65.06 a barrel and the Brent crude oil price fell 3.3% to US$73.44 a barrel.

Spot gold price plunges.

The spot gold price sank at the end of the week in what appears to have been a delayed response to rising rates in the United States. It fell almost 2% to a 2018 low of US$1,276 an ounce before closing the week at US$1,278.45 an ounce.

The Australian dollar slides lower.

A strengthening U.S. dollar has put pressure on the Australian dollar. The local currency fell 0.6% on Friday to close the week at 74.4 U.S. cents. This could give the shares of Appen Ltd (ASX: APX) and Aristocrat Leisure Limited (ASX: ALL) a boost as they generate significant revenues in the U.S. market.

Evans Dixon upgrades its guidance.

The shares of recently listed financial services company Evans Dixon Ltd (ASX: ED1) could be on the move today after it announced an upgrade to its earnings guidance after the market closed on Friday. Due to a strong performance from all three of its business segments during the current quarter, management expects pro forma EBITDA of $50 million compared to its prospectus forecast of $42.6 million. This is a $7.4 million or 17.4% increase on its previous forecast.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium and Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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