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AUD Touches New 6.5 Year Low, US Nonfarm Payroll Numbers Due Today
September 4, 2015 6:33 amVideo
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US stocks finished the session in slightly positive territory after recent volatility caused by the slowdown in China’s economy. The Dow climbed 0.16% to close at 16374, while the S&P500 rose 0.12% to finish at 1951. However, Asian markets extended losses as investors showed caution over today’s US job report and the recent Chinese turmoil.
The Euro slid to a two-week low of $1.10875 and it last fetched $1.1124. Against the Yen, the Common Currency hit 132.73 Yen, its lowest level in more than four months. The Yen’s ascendance also nudged it up versus the Dollar, which fell 0.7% to $119.27. The Australian Dollar was down 0.8% at $0.6962 after hitting a new six and half year low of $0.6959.
U.S. crude for October delivery, also known as West Texas Intermediate, was down 66 cents at $46.09 a barrel, off the day’s high of $46.85. It settled up 50 cents on Thursday. After gains in early trading, Brent crude futures slipped 1.1 percent to $50.10 per barrel. Metals were also in focus with Copper falling 1.2% to $5,181 per tonne after surging to $5,314 on Thursday, its highest in over three weeks. Aluminium climbed, touching a one-month peak of $1,641 a tonne on Thursday. It was last trading down 0.6% at $1,620.
The US Nonfarm Payroll figures are due at 13:30 BST this afternoon. Current predictions are that non-farm payrolls increased by 220,000 last month, up from 215,000 new jobs in July – although we’ll have to wait until the release itself to know for sure. If the US economy has indeed added jobs at this steady pace, then the
unemployment rate will have fallen to a near seven and a half year low of 5.2%, which could allow a cautious Federal Reserve to consider a September interest rate hike.
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