Global Markets:
- Asian Stock Markets : Nikkei up 0.10%, Shanghai Composite down 0.26%, Hang Seng up 1.48% ASX up 0.55%
- Commodities : Gold at $2307.5 (-0.15%), Silver at $26.73 (-0.26%), Brent Oil at $83.80 (0.18%), WTI Oil at $79.06 (0.16%)
- Rates : US 10-year yield at 4.58, UK 10-year yield at 4.32, Germany 10-year yield at 2.53
News & Data:
- (USD) Unemployment Claims 208K vs 212K expected
- (USD) Trade Balance -69.4B vs -69.5B expected
- (CAD) Trade Balance -2.3B vs 1.1B expected
Markets Update:
Asia’s markets surged on Friday, led by Hong Kong, bolstered by Wall Street’s gains ahead of key U.S. employment data. Apple’s strong earnings report prompted a focus on its suppliers, with Taiwan Semiconductor Manufacturing Company rising by 1% and Foxconn by 1.3%. Apple’s announcement of a $110 billion stock buyback program boosted its shares by 6% in after-hours trading, drawing attention to Taiwanese and South Korean suppliers.
In Australia, the S&P/ASX 200 closed 0.55% higher at 7,629, while Japanese and Chinese markets were closed for public holidays. The Japanese yen strengthened against the U.S. dollar, reaching 153.13, marking its strongest week in over a year. U.S. markets closed positively, with the Dow Jones Industrial Average rising by 0.85%, the S&P 500 by 0.91%, and the Nasdaq Composite by 1.51%.
Economists anticipate approximately 240,000 job gains in the April nonfarm payrolls report, following March’s 303,000 additions. Investors await this data after the U.S. Federal Reserve opted to maintain interest rates at its recent meeting.
Upcoming Events:
- 12:30 PM GMT – USD Average Hourly Earnings m/m
- 12:30 PM GMT – USD Non-Farm Employment Change
- 12:30 PM GMT – USD Unemployment Rate
- 1:45 PM GMT – USD Final Services PMI
- 2:00 PM GMT – USD ISM Services PMI
