Thursday, February 4, 2016

OVERNIGHT


Nervousness ahead of the U.S. jobs report apparently toned investor enthusiasm overnight in Asia as markets there with Shanghai share up ever so slightly  0.1% while South Korea's KOSPI dropped 0.1% and Aussie shares fell 0.7%, according to Reuters.

But it's just not U.S. jobs. The dollar has weakened a bit after being on an upward trend for some time, causing concern in many quarters as dovish sentiments from some Fed officials coupled with weaker than expected economic data roiled investor confidence.

Little changed at 116.92 to the yen, the buck lost 1% overnight, but it is now closing in on a 3.5% loss for the week, Reuters noted. Gold approached a three month high of $1,157.20 an ounce as the threat of higher interest rates competing with the non-yielding yellow metal fading pat least for now.

The Hong Kong Hand Seng traded higher while the Nikkei index fell 1.1% as worries the yen strengthening against a weaker dollar troubled investors there.

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