Equity futures were little changed in Australia, Japan, and Hong Kong as investors assess the pace of economic recovery. Last week the S&P 500 had its best week since February, which lifted 2.7% with financial and retail shares outperforming tech giants; the Dow Jones lifted 3.4%, and the Nasdaq rose by 2.4%.
Treasury yields lifted on Friday. US 10-year yields rose by 3 points to 1.52% and short-term US 2-year yields were flat near 0.27%.
Forex trading saw the US dollar stronger against other major currencies. According to ZERO Markets’ Meta Trader 5 platform, the Euro fell from highs near $1.1975 to lows near $1.1925 against the dollar. The Aussie dollar fell from highs near $0.7615 to lows around $0.7580 against the dollar at US close.
Commodity trading saw crude oil prices lifted 0.5% on Friday, near the highest levels since October 2018. Expectations in US sanctions that will continue to be enforced on Iran to limit global oil supplies saw prices remained elevated.
Brent crude rose by 0.8% to near $US76.17 a barrel. WIT gained 1% to near $US74.05 a barrel.
Iron ore prices rose by 1.8% to near $218.7 a tonne. Precious metals trading saw gold rose 0.5% to near US$1777.8 an ounce.
Key events this week (Economic Calendar):
- OPEC+ ministerial meeting (Thursday)
- U.S. jobs report (Friday)
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