JPY and EUR slump before the strong USD, the market are waiting for NFP report at 15:30 - market wrap

01.09.2017 / 09:35

Rating:

Asian stocks advanced as investors await a U.S. jobs report for clues on the Federal Reserve’s policy-
tightening path due Friday ahead of a long weekend in America. The yen dropped for a third day this week.

Equities rose in Tokyo, Sydney and Hong Kong after the MSCI Asia Pacific Index completed its eighth straight month of gains and nudged closer to its highest in almost a decade. Treasury Secretary Steven Mnuchin said a weaker currency is “somewhat better” for trade.

Stocks: Japan’s Topix index rose 0.2 percent as of 2:30 p.m. Tokyo time. The Kospi index in South Korea fell less than 0.1 percent and Australia’s main gauge rose 0.1 percent. Hang Seng Index in Hong Kong climbed 0.1 percent, while the Shanghai Composite Index advanced 0.2 percent. Contracts on the S&P 500 were up less than 0.1 percent after the underlying measure rose 0.6 percent. The MSCI Asia Pacific Index climbed 0.2 percent.

Currencies: The yen fell less than 0.1 percent to 110.09 per dollar after rising 0.2 percent.
The Bloomberg Dollar Spot Index rose 0.1 percent after losing 0.2 percent. The euro fell to $1.1893 after climbing to near the strongest since 2015.

Commodities: West Texas Intermediate crude dropped 0.6 percent to $46.94 a barrel. Gold lost 0.2 percent to $1,319.26 an ounce after capping its best month since January. Gasoline for September advanced on Thursday for an eighth day, up 14 percent to $2.1399 a gallon. Earlier, the front-month
contract touched the highest since July 2015. The October contract fell 0.6 percent to $1.7695 a gallon.

Source: Bloomberg Pro Terminal

Trader Bozhidar Arabadzhiev

Varchev Traders

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JPY and EUR slump before the strong USD, the market are waiting for NFP report at 15:30 - market wrap

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