ECB Pledge Sends Indices Higher and Euro Lower, NonFarm Payroll Figures Out Later
November 7, 2014 7:35 am
Asian shares edged down on Friday ahead of U.S. employment data later in the session, while the Euro wallowed around two-year lows after European Central Bank President Mario Draghi vowed to take further easing steps to spark growth in the euro zone. U.S. stocks edged up in a volatile session on Thursday, with the Dow and S&P 500 hitting fresh record closing highs on an indication that the European Central Bank would take more policy action if needed to boost a struggling Euro zone economy. The Dow closed 69 points higher at 17554 while the S&P500 rose 7 points to close at 2031.
The Euro traded at $1.2381, having fallen as low as $1.2364 on Thursday, its weakest since August 2012. It last traded at $1.2375. Meanwhile, the Dollar bought 115.28 Yen, not far from a fresh 7-year peak of 115.52 touched overnight. The Australian Dollar fell to its weakest since July 2010 and was last flat on the day at $0.8557, Sterling also slipped to a 14-month low of $1.5824 and last fetched $1.5838.
In commodities trading, spot gold was steady at $1,141.70 an ounce, not far from a four and a half year low and set to post its third straight weekly drop. The stronger dollar as well as supply fears continued to pressure oil prices. Brent dropped about 0.5 percent to $82.40 a barrel, while U.S. crude fell about 0.3 percent to $77.69.
In the equity space International Consolidated Airlines Group, the company behind the British Airways and Iberia airlines, laid out plans to pay a maiden dividend, signalling confidence in future growth three years after it was formed by a merger in 2011. The stock is currently trading down by 0.5% at 412p per share.
Today at 13.30 sees the release of US NonFarm Payroll figures. The estimate for October’s figures is 231,000, with September having seen a boost of 248,000. However, we’ll find out whether that 231k figure is accurate this afternoon. The unemployment rate is forecast holding steady at a six-year low of 5.9 percent.
Asian shares edged down on Friday ahead of U.S. employment data later in the session, while the Euro wallowed around two-year lows after European Central Bank President Mario Draghi vowed to take further easing steps to spark growth in the euro zone. U.S. stocks edged up in a volatile session on Thursday, with the Dow and S&P 500 hitting fresh record closing highs on an indication that the European Central Bank would take more policy action if needed to boost a struggling Euro zone economy. The Dow closed 69 points higher at 17554 while the S&P500 rose 7 points to close at 2031.
The Euro traded at $1.2381, having fallen as low as $1.2364 on Thursday, its weakest since August 2012. It last traded at $1.2375. Meanwhile, the Dollar bought 115.28 Yen, not far from a fresh 7-year peak of 115.52 touched overnight. The Australian Dollar fell to its weakest since July 2010 and was last flat on the day at $0.8557, Sterling also slipped to a 14-month low of $1.5824 and last fetched $1.5838.
In commodities trading, spot gold was steady at $1,141.70 an ounce, not far from a four and a half year low and set to post its third straight weekly drop. The stronger dollar as well as supply fears continued to pressure oil prices. Brent dropped about 0.5 percent to $82.40 a barrel, while U.S. crude fell about 0.3 percent to $77.69.
In the equity space International Consolidated Airlines Group, the company behind the British Airways and Iberia airlines, laid out plans to pay a maiden dividend, signalling confidence in future growth three years after it was formed by a merger in 2011. The stock is currently trading down by 0.5% at 412p per share.
Today at 13.30 sees the release of US NonFarm Payroll figures. The estimate for October’s figures is 231,000, with September having seen a boost of 248,000. However, we’ll find out whether that 231k figure is accurate this afternoon. The unemployment rate is forecast holding steady at a six-year low of 5.9 percent.
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