Morning Briefing: Mixed markets ahead of US jobs data

Morning Briefing: Mixed markets ahead of US jobs data

Morning Briefing: Mixed markets ahead of US jobs data Mixed markets ahead of US jobs data
US payroll and unemployment data is released Friday (8.30am ET) and markets are waiting for stronger signs for the world’s biggest economy. Expectation is that the figures will show better news for the US economy and investors are desperate for positive signs in the post-Brexit era.

Equity markets are mixed with Asian indexes generally lower while Europe is faring better. Choppy trade amid lower oil prices and a cautious undertone saw most indexes closed with losses of around 0.5 per cent although Sydney closed very slightly higher.

European bourses are higher so far after an early slip. Oil prices and hopes for US jobs data are lifting sentiment. UK data showed disappointing figures for both retail and exports while consumer sentiment is plummeting.

Wall Street and Toronto are expected to open with slim gains.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 17,895.88 (-0.13 per cent) -0.61 per cent +2.17 per cent
TSX Composite 14,134.46 (-0.68 per cent) -1.25 per cent -1.93 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,544.56 (+0.16 per cent) +3.86 per cent +0.83 per cent
German DAX 9,474.33 (+0.59 per cent) -7.27 per cent -11.84 per cent
 
Asia (at close)
China CSI 300 3,192.28 (-0.55 per cent) +0.89 per cent -12.85 per cent
Japan Nikkei 15,106.98 (-1.11 per cent) -10.24 per cent -23.46 per cent
 
Other Data (at 4.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
46.78
(+0.82 per cent)
45.52
(+0.84 per cent)
1356.80
(-0.39 per cent)
U$0.7687
 
Aus. Dollar
U$0.7504

 
Japanese election this week seen as test of Abenomics
Japan’s upper house, the House of Councilors, is facing elections this weekend and it is being viewed as a test of prime minister Shinzo Abe’s program of reforms and monetary policy known as Abenomics.

With a majority for the coalition government in the lower house, the election is unlikely to cause any major issues for the PM; the lower house can overrule the upper chambers; but a swing away from Abe’s Liberal Democratic party would be seen as vote against his reforms which have seen mixed results.