Currencies

• EUR/USD The U.S. currency is set for a 1.3 percent weekly gain against the euro.
  • The dollar's advance versus the euro was curbed on speculation that the gain in jobs won't be enough to spur the Federal Reserve to increase borrowing costs
  • The dollar rose to $1.4338 per euro from $1.4364 yesterday, when it touched $1.4221.


• USD/JPY The yen headed for a weekly drop against a majority of its most-traded peers before reports that will show the U.S. added jobs for a ninth month and German exports rose, reducing demand for haven currencies.
  • The yen traded at 81.27 per dollar as of 1:53 p.m. in Tokyo from 81.25 in New York yesterday.


• GBP/USD The pound slid against the dollar as the Bank of England left its benchmark interest rate at a record low and maintained its bond- purchase program to help support the U.K. recovery.
  • The pound was 0.3 percent weaker at $1.5963 and was trading at $1.59655 around 7:30 a.m. London time.

Commodities

• Gold rose to within 2.7 percent of its all-time high this week as Moody's Investors Service cut Portugal's credit rating to below investment grade, making it the second euro-area nation after Greece to be downgraded to so-called junk status by the company.
  • Gold for August delivery was up 3 percent for this week at $1,527.80 an ounce by 11:39 a.m. yesterday on the Comex in New York.

• Oil fell from a three-week high on speculation that yesterday's 2.1 percent rally was exaggerated amid signs of ample crude supplies in the U.S.
  • Crude supplies fell 889,000 barrels to 358.6 million last week, the lowest level since April, an Energy Department report showed.
  • Crude for August delivery slid as much as 33 cents to $98.34 a barrel in electronic trading on the New York Mercantile Exchange, and was at $98.45 at 2:53 p.m. Sydney time.

Equities

• U.S. stocks jumped as retail and job market data boosted confidence in the economy.
  • The S&P 500 Index (SPX) climbed 1.1 percent to 1,353.22 at 4 p.m. in New York.
  • The Dow Jones Industrial Average rose 93.47 points, or 0.7 percent, to 12,719.49.


• European stocks advanced after a report showed U.S. companies added more jobs than forecast and the European Central Bank eased collateral rules to help Portugal access emergency funds
  • The U.K.'s FTSE 100 Index (UKX) rose 0.9 percent.
  • France's CAC 40 and Germany's DAX added 0.5 percent.

• Asian stocks rose after the increase in U.S. retail sales and employment.
  • Toyota Motor Corp., the world's biggest carmaker by market value, rose 1.9 percent in Tokyo.
  • The MSCI Asia Pacific Index increased 0.8 percent to 138.38 as of 11:25 a.m. in Tokyo.
  • Japan's Nikkei 225 (NKY) Stock Average rose 1 percent.
  • Hong Kong's Hang Seng index increased 1.1 percent, while China's Shanghai Composite index fell 0.2 percent.

Sources: Bloomberg, FT