Overseas markets on Friday were again mixed, with good headline US unemployment numbers failing to ease European debt tensions on risk markets as tensions also rose in the Straits of Hormuz over Iran.
European markets were mainly down, but the UK FTSE gained 25 points and rose almost 0.5% to finish at 5650 points, whilst the German DAX fell 0.65% to finish at 6057 points.
The Euro (EUR/USD) continues to fall, breaking through 1.27 against the USD. It is currently trading just above at 1.2702, as the USD Index remains above the 81 point level, now trading at 81.60 as most major and minor currencies fell against the world’s reserve currency:
US equity markets were flat even on the supposedly positive employment figures as traders looked past the delusion of the market economists. The S&P500 was down 3 points to 1277, the tech heavy NASDAQ finishing up, just, by 4 points to 2674 and the Dow Jones lost 55 points or nearly 0.55% to 12359.
The AUD is now dicing with the 1.02 level against the USD currently at 1.0208, falling around 20 pips while it remains just over 80 cents against the Euro, following the generally undollar move.
To commodities, and WTI crude, even in the face of a possible blockade action in the Straits of Hormuz was down over $0.25 to $101.56 USD a barrel, with Brent crude actually up 32c to $113.06 USD per barrel, possibly reflecting the different geographical implications.
Gold didn’t see any further bids, possibly on the notion that the Fed is through with QE for now on the positive US jobs data, and slipped a few dollars to be at $1617USD per ounce before the start of the Asian session:
Other commodities were weak to flat, with aluminium surprising up 1.6%, copper also up 0.5%, whilst silver remains below $30USD at $28.11 an ounce.
The Aussie SPI Futures point to a slightly higher open for the S&P/ASX200 index, currently up approx. 10 points, probably opening around the 4115 points level.
Trading Day will cover the Asian market session and the “ASX8” stocks after the close in the afternoon.