The umpteenth double record of the American stock market (indeed triple, including the NASDAQ) and the closing of the Dax above 10 thousand encouraged another rally in the Asian markets. The excellent data on American jobs, which grew beyond expectations, and the fall in the unemployment rate to 6,1% have spread a wave of optimism. The dollar strengthened against the major currencies, the euro fell to 1,360 and the yen surpassed 102, triggering another rise in the Nikkei (+0,6%). The MSCI Asia Pacific index gained 0,4% in early Japanese afternoon. In China, the services PMI dropped somewhat (as reported yesterday) but another services PMI (Markit HSBC) instead signals an acceleration in growth.
Gold also suffered from the strengthening of the US currency and lost a few dollars: it is quoted at $1320/ounce, on last night's levels. Oil seems to have shrugged off supply concerns and is trading just below 104 $/b (Brent is at 111).
Today the US markets are closed for Independence Day. The only data of note, which will be released in the early morning, are the orders in Germany.
