- U.S. Non-Farm Payrolls much better than expected; 4.8mln new jobs; rate falls to 11.1%
- U.S. stocks opened firmer, before fading gains late amid the rise in Corona Virus cases
- 4th of July Holiday in the U.S. expected to keep trading activity light today
Bias: Risk neutral
U.S. stocks opened firmer out of the gates in line with the better than expected jobs report. The upside was then trimmed amid position adjustment ahead of the 4th of July U.S. holiday and as Corona Virus infection numbers continue to rise.
Currencies held recent ranges overnight, with most players sitting on their hands ahead of the July 4th holiday in the U.S. The Big Dollar largely shadowed U.S. stocks over the day, initially trading firmer, before easing back into New York afternoon dealings.
Oil prices rose again on news of dwindling inventories, while gold was also firmer on the day.
With little major incentive from offshore markets overnight and with it being Friday, expect a quiet end to the week in Asia today. Data sees Australian Retail Sales and Chinese Caixin PMI while European PMI’s are also due later this global session.