The US$ has regained some of its recent lost ground on Wednesday after some decent manufacturing and construction data, seen in the ISM, in another sign of strong economic momentum at the end of 2017. The dollar then received further support following the release of the FOMC Minutes, which underlined the likelihood of a continued gradual rate climb through 2018. Commodity currencies have maintained their ground but the Euro and Sterling have both given back some of their previous gains in what has been a relatively choppy but steady session for the currency markets. The biggest moves of the day were in the stock markets, which has seen the indices make new all time highs, led by the tech sector, and in oil which rallied by 2%, underpinned by the tensions in Iran.
Thursday will kick-off with the Australian and the Caixin China Services PMIs, and will be followed by those (+Composite) from the EU and the US. Also on the agenda today will be the UK Mortgage Approvals, Net Lending to Individuals and Consumer Credit (Nov). From the US we get the ADP Jobs data (exp +190) ahead of tomorrow’s Unemployment (exp 4.1%)/NFP (exp +189)/Average Hourly Earnings (exp +0.3%) data. Have a good day.
|INDICES / COMMODITIES|
|ASX SPI: 6057|