Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Asian Stocks Mostly Higher US Jobs Report Eyed Hopefully

Asian Stocks Mostly Higher US Jobs Report Eyed Hopefully

David Cottle, Analyst

Talking Points:

  • Asian stocks ended the session mostly higher, with the Shanghai Composite lagging
  • Japanese markets were out for a holiday
  • Australian economic data disappointed, Chinese data didn’t

Asian markets were mixed Friday, as their US counterparts had been overnight, as investors looked over US Republicans’ tax-reform plans and considered President Trump’s nomination of Federal Reserve Governor Jerome Powell to head the central bank once currency Chair Janet Yellen leaves in 2018.

The markets were also looking toward what remains the major single event of the global monthly data round, official US employment statistics. These will see daylight long after Asian markets close Friday but a chunky 312,000 rise in October’s nonfarm payrolls is expected.

The Asian session missed Japanese input as markets there were closed for the culture day holiday. That said, Asian Apple suppliers were in some focus Friday following the tech titan’s earnings beat and as the new iPhone X went on sale across the world. Australia’s ASX ended up 0.48%, with South Korea’s Kospi 0.1% to the good. Chinese stocks were more mixed with Hong Kong stocks slightly higher while the Shanghai mainboard weakened into the close.

The US Dollar was steady against most of its major traded rivals. The Australian Dollar slipped back on news of surprise weakness in domestic retail sales and didn’t recover at all on better news out of China’s service sector. Chinese data can move the Aussie at times but, with an Australian interest-rate decision coming up next week, investors in the currency seems more concerned with domestic matters.

Crude oil prices gained on news of ongoing compliance with supply cuts, but Senior DailyFX Currency Strategist Ilya Spivak cautions that these gains may be vulnerable. Gold prices were steady as the Dollar held firm.

Coming up in the remainder of global Friday, aside from those US payroll figures, we have UK construction and service-sector PMI numbers and Canadian labor statistics. Out of the US will come durable goods order numbers and the non-manufacturing and composite indexes from the Institute for Supply Management.

Just getting started in the trading world? Our beginners’ guide is here to help

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.