Market Comment |
Australia |
| The S&P/ASX 200 index rose 0.42% or 22.037pts to 5215.01 (day range: 5216.6 – 5152.8) on Friday. The index is below its 20d MA (@ 5255) and above its 50d MA (@ 5163). 66% of the index constituents are above their 20D MA (vs 62% the previous session) and 75% of the shares are above their 50D MA (vs 74%). |
Foreign Exchange |
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| The US dollar was higher against all of its major counterparts on Friday. On the economic data front, Nonfarm payrolls jumped to 271K in Oct from a revised 137K in Sept. (185K estimate). The U.S. unemployment rate lowered to 5% in Oct from 5.1% in Sept in line with estimates. The Obama administration rejected the Keystone XL Pipeline project.
The Euro was under pressure against most of its major pairs except for the AUD and NZD. In Europe, German industrial production fell 1.1% in September after a 0.6% decline the month before (revised from -1.2%). Economists anticipated a 0.5% rise. UK industrial production decreased 0.2% in September from a 0.9% gain a month earlier. Consensus was a 0.1% decline. The Australian dollar was under pressure against all its major pairs except for the NZD. |
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