Fears of economic instability in the eurozone are set to send shockwaves through the Australian stock market as the world sweats over whether Britain will bail on the EU. Related: Sterling and FTSE 100 floored by Brexit worriesHe predicts the Australian market will open 60 points – or 1.1% – down after the Queen’s Birthday long weekend. “There is the Fed’s decision in the week ahead, then the Brexit vote the week after, and Spanish election the week after that,” Oliver said. “Ultimately I suspect if fears over Brexit continue over the next week we’re likely to see downward pressure on the Aussie dollar,” he said. Oliver said lingering uncertainty over the 23 June vote was set against a backdrop of weakened commodity prices, with oil and copper values both down.

Source: The Guardian June 12, 2016 04:30 UTC