Better than expected results for the American labor market (both for the creation of new jobs and for the unemployment rate) have instilled optimism in the Asian markets. The MSCI Asia Pacific regional index rose 0,7% in the early afternoon, starting the week well after falling over the past seven days. The Nikkei rose by more than 2%, despite a renewed weakening of the yen which passed the threshold of 103 against the dollar.
The result, better than analysts' estimates, for Chinese exports in November also helped: +12,7% on the year. As if to signify that a strong yuan does not harm exports, the Chinese currency appreciated further, reaching a new record of 6,07 against the dollar. Still in the currency field, the euro exceeds 1,37, while oil strengthens towards 98 (WTI – Brent is at 111,7 $/b). Gold still languishes at $1227 an ounce.
Wall Street futures mark another breakthrough: the feeling is that markets now believe that the US economy is strong enough to deal with a smaller dose of monetary medicine from the Fed.
http://www.bloomberg.com/news/2013-12-08/asia-futures-jump-on-u-s-gains-as-aussie-climbs-on-china.html
