In Asian Equity Markets Japan’s Nikkei index fell on Friday as the yen’s rise to seven-week highs overshadowed optimism on corporate earnings, while Mazda Motor rose ahead of an expected announcement of a capital alliance with Toyota Motor. The Nikkei shed 0.4 percent by mid-morning trade, but stayed flat on the week. MSCI’s broadest index of Asia-Pacific stocks outside Japan rose 0.2 percent. South Korea’s KOSPI, which closed at a 3-1/2-week low on Thursday, recovered 0.4 percent, narrowing its losses for the week to 0.2 percent. China’s blue-chip CSI 300 reversed early losses to trade up 0.1 percent. Hong Kong’s Hang Seng was slightly higher.
In Currency Markets the dollar struggled near a 2-1/2-year low against the euro and a seven-week trough versus the yen on Friday in the wake of weak U.S. data, with traders awaiting the closely watched non-farm jobs report later in the session for potential relief. The euro added 0.1 percent to $1.1879, within striking distance of $1.1910, its highest since January 2015 scaled midweek. The dollar was steady at 110.085 yen after touching 109.855 overnight, its lowest since mid-June. The pound was last at 90.43 pence per euro after retreating to a nine-month low of 90.485 pence overnight. It stood little changed at $1.3140 after losing 0.7 percent the previous day. The dollar index against a basket of six major currencies was 0.1 percent lower at 92.766.
In Commodities Markets oil markets fell on Friday, with U.S. crude remaining below $50 per barrel, restrained by rising output from the United States as well as producer club OPEC. U.S. West Texas Intermediate crude futures were at $48.95 per barrel, down 0.2 percent, from their last close and around 90 cents for the week. Brent crude futures were at $51.93 a barrel, down 0.15 percent, from their last close and around 70 cents for the week. Spot gold was nearly flat at $1,268.00 per ounce. Silver rose 0.2 percent to $16.65 per ounce, after falling to a one-week low in the previous session. Platinum fell 0.2 percent to $958.80 per ounce and palladium was flat at $884.50 per ounce.
In US Equity Markets the S&P 500 and the Nasdaq fell on Thursday, weighed down by Amazon.com, Apple and other top-shelf technology stocks, while the Dow Jones Industrial Average edged up to a seventh straight record high. The Dow Jones Industrial Average dged up 0.04 percent to end at 22,026.1. The S&P 500 lost 0.22 percent to 2,472.16 and the Nasdaq Composite fell 0.35 percent to 6,340.34. Silicon Valley electric carmaker Tesla jumped 6.50 percent after reporting quarterly results above Wall Street’s expectations. Yum Brands fell 2.30 percent, while Dish Network lost 4.52 percent after releasing their earning reports. Avon Products fell 10.71 percent after the cosmetics seller posted an unexpected quarterly loss and said its CEO will step down.
In Bond Markets Japanese government bond prices inched down on Friday as the market nudged lower on lacklustre results to the Bank of Japan’s buying operation for longer-term debt, although overall activity was limited ahead of the U.S. non-farm payrolls report due later in the session. The five-year and 30-year yields rose half a basis point to minus 0.065 percent and 0.870 percent, respectively. The benchmark 10-year yield was flat at 0.065 percent.
Economic Calendar
- 13:30 GMT+1 CAD Employment Change
- 13:30 GMT+1 CAD Trade Balance
- 13:30 GMT+1 CAD Unemployment Rate
- 13:30 GMT+1 US Average Hourly Earnings m/m
- 13:30 GMT+1 US Non-Farm Employment Change
- 13:30 GMT+1 US Unemployment Rate