Daily Market Outlook from ACFX 09/06/2013

[Atlas CapitalFx]

Daily Market Outlook from ACFX 09/06/2013


Important Financial Indicators of the day

GBP - 08:30 (GMT) - Manufacturing Production m/m - Forecast 0.3% - Previous 1.9%
CAD - 12:30 (GMT) - Employment Change - Forecast 21.2K - Previous -39.4K
CAD - 12:30 (GMT) - Unemployment Rate - Forecast 7.2% - Previous 7.2%
USD - 12:30 (GMT) - Non Farm Employment Change - Forecast 178K - Previous 162K
USD - 12:30 (GMT) - Unemployment Rate - Forecast 7.4% - Previous 7.4%
CAD - 14:00 (GMT) - Ivey PMI - Forecast 52.6 - Previous 48.4


Currencies

◾EUR/USD The dollar was set for a second
weekly advance against the euro as 10-year Treasury yields
reached 3 percent for the first time since 2011 before data
forecast to show U.S. employers added jobs at a faster pace.

◾The dollar was little changed at $1.3131 per euro at 6:50 a.m. in London,
having risen 0.7 percent this week. Europe’s 17-nation currency dropped
0.3 percent to 130.96 yen, paring a weekly gain to 0.9 percent.
The yen strengthened 0.4 percent to 99.75 per dollar and was down 1.6 percent on the week.

◾AUD/USD Australian bonds fell, pushing the
benchmark 10-year yield to its highest in 17 months, before a
U.S. Labor Department report that may show jobs growth
accelerated last month in the world’s largest economy.

◾Australia’s 10-year bond yield rose as much as eight basis points to 4.151 percent,
the most since April 2012, and was as 4.15 at 10:05 a.m. in Sydney.
It has climbed 25 basis points since Aug. 30, set for the largest increase in three weeks.
The three-year rate touched 2.986 percent, the highest since June 24. A basis point is 0.01 percentage point.

◾GBP/USD he pound was little changed versus
the dollar and euro before a report economists said will show a
gauge of U.K. manufacturing activity increased at a slower pace
in July.

◾The pound traded at 84.13 pence per euro at 7:30 a.m.
London time after reaching 84.08 pence yesterday, the strongest
level since May 6. It has appreciated 1.4 percent this week
against the common currency. Sterling was at $1.5601, having
gained 0.6 percent since Aug. 30.

◾USD/CAD The Canadian dollar rose against the
majority of its 16 most-traded peers before data tomorrow
forecast to show the nation snapped two months of jobs losses in
a sign the economy may be emerging from a mid-year slowdown.

◾The loonie, as the Canadian dollar is known for the image
of the aquatic bird on the C$1 coin, fell 0.1 percent to
C$1.0505 per U.S. dollar at 5 p.m. in Toronto. One loonie buys
95.19 U.S. cents.




Commodities

◾Oil West Texas Intermediate oil swung between gains as losses as U.S. crude
inventories shrank and President Barack Obama searched for diplomatic backing
for a military strike on Syria while at the G-20 summit in Russia.

◾WTI for October delivery was at $108.30 a barrel in
electronic trading on the New York Mercantile Exchange, down 7
cents at 2:45 p.m. Singapore time. The contract yesterday
climbed 1.1 percent to $108.37, the biggest gain since Aug. 27.
The volume of all futures traded was about 54 percent below the
100-day average. Prices are up 0.6 percent this week

◾Brent for October settlement slid 9 cents to $115.17 a
barrel on the London-based ICE Futures Europe exchange. The
European benchmark crude was at a premium of $6.82 to WTI
futures, from $6.89 yesterday.

◾Gold West Texas Intermediate oil swung between gains as losses as U.S. crude
inventories shrank and President Barack Obama searched for diplomatic backing
for a military strike on Syria while at the G-20 summit headed for the first
back-to-back weekly decline since July before data that may show
employers in the U.S. added jobs at a faster pace last month,
boosting the case for the Federal Reserve to rein in stimulus. Russia.

◾Gold has lost 18 percent this year amid expectations the Federal Reserve
will pare asset purchases as early as this month. The Federal Open Market Committee
is scheduled to meet Sept. 17-18. Data today may show that nonfarm payrolls
expanded 180,000 in August, compared with an increase of 162,000 in July.



Equities

◾Asian stocks dropped, snapping a
six-day advance and paring the regional benchmark index’s
biggest weekly gain since July, as investors await the monthly
American jobs report.

◾The MSCI Asia Pacific Index fell 0.2 percent to 133.02 as of 2:05 p.m. in Hong Kong,
on course to rise 2.2 percent this week for the biggest advance since the week through July 12.
U.S. payrolls figures today may add to signs of an improving jobs market ahead of
the Federal Reserve’s Sept. 17-18 meeting, when it will gauge whether
the world’s biggest economy can withstand a reduction in unprecedented stimulus.

◾European stocks were little changed,
with the Stoxx Europe 600 Index heading for a weekly gain, as
investors awaited a report on U.S. payrolls to gauge the outlook
for Federal Reserve stimulus. U.S. futures and Asian shares were
also little changed.

◾The Stoxx 600 gained 0.2 percent to 305.02 at 8:09 a.m. in
London. The benchmark gauge has gained 2.6 percent so far this
week, snapping two weeks of losses, as the European Central Bank
affirmed its accommodative monetary policy and as Chinese
manufacturing in August surpassed estimates. Standard & Poor’s
500 Index futures added 0.1 percent, while the MSCI Asia Pacific
Index dropped less than 0.1 percent.

◾U.S stocks rose, with benchmark indexes staging the longest rally since July, as
investors weighed data on the labor market and American services
industry before tomorrow’s monthly jobs report.

◾The Standard & Poor’s 500 Index (SPX) rose 0.1 percent to 1,655.08 at 4 p.m. in New York.
The Dow Jones Industrial Average added 6.61 points, or less than 0.1 percent, to 14,937.48.
About 5.3 billion shares changes hands on U.S. exchanges, 12 percent below the three-month average.