U.S. indices closed mixed on Friday after disappointing jobs data. Shares in the Telecommunication Services (+0.91%), Food & Staples Retailing (+0.7%) and Food, Beverage & Tobacco (+0.61%) sectors traded higher while shares in the Transportation (-0.75%), Media (-0.53%) and Software & Services (-0.44%) sectors were under pressure. On the economic data front, nonfarm payrolls added 130K in August (vs. +160K expected, +159K in July), while unemployment rate was steady at 3.7% as expected). The S&P 500 (2,978.71) trades above its 20d moving average (2,905.44 – positive slope) and its 50d moving average (2,946.48 – positive slope).
European markets are expected to open on a flat note.
Foreign Exchange
The US dollar was mixed on Friday. On the economic data front, US Nonfarm Payrolls came out at 130K in August (160K estimated) compared to a revised 159K in July. US Nonfarm Manufacturing Payrolls increased by 3K in August (5K estimated) compared to a revised 4K increase in July. The US Unemployment Rate in August was in line with July at 3.7% as estimated, which is near historical lows.
The Euro was bearish against most of its major pairs with the exception of the CHF and GBP. In Europe, the euro-zone GDP growth was revised at 1.2% for 2Q YoY vs +1.1% in first reading. It was 1.3% in 1Q on that basis. The Germany industrial production unexpectedly fell by 0.6% in July (+0.4% anticipated) after a 1.1% decrease a month before (revised from -1.5%).
The Australian dollar was bullish against its major pairs with the exception of the NZD.
Commodities
After the close of Wall Street, WTI Crude Future (OCT 19) was about flat to $56.59. The contract was above its 20D MA (@ $55.38) and above its 50D MA (@ $56.29).
Gold was down $13.5 to $1505.5. The precious metal was below its 20D MA (@ $1520) and above its 50D MA (@ $1466).
Copper Future (DEC 19) on Comex was down 1.3c to 262.85c/lb. The contract was above its 20D MA (@ 258.55c) and below its 50D MA (@ 264.24c). In Europe, the London Metal Exchange reported its copper inventories decreased 5400 tons to 313275 tons.