Market Comment |
Australia |
| The S&P/ASX 200 index edged up 0.25% or 12.804pts to 5040.6 (day range: 5069.2 – 4995.6) on Friday.The index is below its 20d MA (@ 5247) and below its 50d MA (@ 5449). 18% of the index constituents are above their 20D MA (vs 16% the previous session) and 18% of the shares are above their 50D MA (vs 16%). |
Foreign Exchange |
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| The US dollar was higher against its major counterparts with the exception of the CHF and JPY on Friday.On the US economic data front, US Nonfarm payrolls increased 173K in August and the US Jobless rate dropped to 5.1%, the lowest since April 2008.
The gain in payrolls was less than the 217K forecast however June and July payrolls were stronger than previously recorded. Manufacturing payrolls decreased 17K in August compared to a revised increase of 12K in July (5k estimate). The Euro was higher against all its major counterparts except for the JPY. In Europe, German factory orders declined by 1.4% in JUly (-0.6% expected) after a 1.8% rise the month before (revised from +2%). The Australian dollar was under pressure against its major pairs except for the NZD. |
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