The US$ is firm against all counterparts currencies and US stocks reached yet new record highs on Thursday as US/Middle East tensions eased, and once again safe haven assets are the main victim with the Jpy, WTI and Gold all under some downside pressure. The Australian dollar is also heavy because of the ongoing ramifications of the bushfires, and has dragged the Kiwi down with it.
Friday will be all about the US employment figures (exp; Unemployment 3.5%/NFP +164K/Average Hourly Earnings 0.3%mm). Before then the only other market moving data will come from Australia, where the Services PMI and the November Retail Sales (exp 0.4%) are due. I suspect the Retail Sales may be soft and we could see further downside pressure placed on the Aud$.
Economic data highlights will include:
Fri: Australian AIG Performance of Services Index, Retail Sales, Japan Leading Economic Index, Coincident Index, China New Loans, Foreign Direct Investment, US Jobs/NFP/Average Hourly Earnings data, Wholesale Inventories
Market moves, in brief:
FX: DXY 97.45 (+0.14%)
Bonds: US10Y; 1.859% (-1.14%), German 10Y; -0.220% (+9.29%), UK 10Y; +0.739% (-0.78%), Australian 10Y; +1.246% (+4.27%), NZ 10Y; 1.493% (+0.91 %), China 10Y; 3.147% (-1.05%)
Stock Indices: DJI; +0.72%, S+P; +0.68%, NASDAQ; +0.77%, EUStoxx50; +0.62%, FTSE100; +0.31%, Shanghai Composite; +0.91%,
Metals: Gold $1552 oz (-0.25%), Silver $17.98 oz (-0.93%), Copper $2.7985 lb (-0.48%), Iron Ore $93.57 per tonne (NYMEX) (-1.10%),
Oil: WTI $59.60 pb (-0.60%)
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