Currency Updates:
U.S. Dollar Trading (USD) remained pressured on Thursday as ISM manufacturing rose from 50.8 to 52.7, coinciding with it strongest reading since June. More so, the after effects of the previous days joint central bank efforts, and the market perception that Fridays Non-Farm Payroll number may come in above the forecasted 120K, ensured investor sentiment remained steady, shrugging off a disappointing China PMI reading of 49 during the Asian session. In US Share markets, the Dow Jones was slightly lower at 0.1%, S&P down 0.1%, whilst the NASDAQ was higher 0.4%
The Euro (EUR) recorded subdued gains, despite local share markets easing in what appeared to be thin trading, as the FTSE eased 0.3% and the DAX lost 0.9%. The single currency was boosted by confident auctioning of French, Italian and Spanish 10-yr bonds. The Euro rose from level near 1.3420 to highs of 1.3515
The Japanese Yen (JPY) returned to its subdued, more familiar range trading with a low of 77.50 and a high of 77.80
The Sterling (GBP) was lesser poised then other majors, as UK Manufacturing PMI eased from 47.8 to 47.6 in November. The Pound had rallied from 1.5640 to levels above 1.5750 before falling back below the 1.5700 to end the trading day.
The Australian Dollar (AUD) had eased on the back of disappointing Retail Sales number coming in at 0.2%, added to a fall in Building Approvals of -10.7% for the month of October. Further pressure on the AUD was seen as China PMI fell from 50.4 to 49, justifying the previous days surprise cut of China’s RRR. The AUD recorded a low of 1.0150 before rebounding to 1.0270 in the US session of trade.
Oil & Gold (XAU) XAU fell by US$10.50 an ounce to US$1,739.80, whilst Oil also eased by US$0.16 a barrel US$100.20
