10 Jan: Positve risk outlook takes stocks to new highs. NFP in focus. Australian R/S coming up.

10 Jan: Positve risk outlook takes stocks to new highs. NFP in focus. Australian R/S coming up.

 

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%)

CURRENCIES
EURUSD: 1.1106
Res  1.1120  1.1135  1.1150
Sup  1.1090  1.1075  1.1060
USDJPY: 109.51
Res  109.70  110.00  110.25
Sup  109.20  108.85  108.50
GBPUSD: 1.3061
Res  1.3080  1.3105  1.3130
Sup  1.3035  1.3010  1.2985
USDCHF: 0.9730
Res  0.9745  0.9760  0.9775
Sup  0.9720  0.9705  0.9690
AUDUSD: 0.6852
Res  0.6870  0.6885  0.6900
Sup  0.6850  0.6835  0.6820
NZDUSD: 0.6610
Res  0.6625  0.6650  0.6675
Sup  0.6600  0.6580  0.6555
INDICES / COMMODITIES
S&P.fs: 3273.03
Res  3280.00  3290.00  3300.00
Sup  3265.00  3255.00  3245.00
DJ30.fs: 28904.50
Res  29000.00  29150.00  29300.00
Sup  28785.00  28630.00  28485.00
SPI200.fs: 6828
Res  6835  6865  6900
Sup  6800  6770  6740
XAUUSD: 1552.67
Res  1565.00  1575.00  1585.00
Sup  1540.00  1530.00  1520.00
XAGUSD: 17.93
Res  18.05  18.20  18.35
Sup  17.80  17.65  17.50
WTI.fs: 59.55
Res  60.55  61.45  62.40
Sup  58.65  57.65  56.55
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