A new trading week that will be capped by Friday’s US non-farm payrolls jobs report is starting off well enough as Wall Street had a small advance overnight while the USD continued to firm against the other major currencies. The Australian dollar is lifting up towards the 67 cent level in anticipiation of today’s RBA meeting where the central bank is likely to raise rates again.
US bond markets saw a small drop across the yield curve with the 10 year retreating just below the 4% level while oil prices advanced on their recent gains with Brent crude now pushing above the $85USD per barrel level. Gold is trying to beat back the USD uptrend but is still floating along at the $1970USD per ounce level.
Looking at share markets in Asia from yesterday’s session with mainland Chinese share markets had modest sessions but still very positive with the Shanghai Composite closing nearly 0.5% higher at 3291 points while in Hong Kong the Hang Seng Index has pushed more than 1.5% higher to finally breakthrough the 20000 point barrier.
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