The Australian equity market is pointed to a weaker open for the final day of the week after US stocks fell overnight to get their month of to a poor start, snapping a four-day winning streak lead by financials as investors look to exit positions prior to the government's monthly jobs report out tonight.
The Dow fell 119.96 points to finish the session at 11493.57 in a volatile session where the index swung over 100 points from initial lows. The S&P500 index fell 14.47 points to finish the day at 1204.42 led lower by financials.
The EURUSD fell from highs of 1.4375 to as low as 1.4226 Thursday night after all the European manufacturing contracted in August more than expected coupled with the US manufacturing activity beating analyst's expectations. The Institute for Supply Management purchasing managers' index came in at 50.6 for August.
The Swiss franc rose against all of its major counterparts overnight on signs that the European economies are slowing as policy makers struggle to stem the sovereign debt crisis. USDCHF traded down from highs of 0.8088 to as low as 0.7928.
WTI crude oil rose from lows of 88.25 to a four week high of just below the 90.00 per barrel level overnight as low pressure systems in the Gulf of Mexico look to develop into a large storm which has led to the energy companies that are producing oil is evacuate the rigs in the surrounding area.
Gold finished the day reasonably flat at 1824.5 after trading as low as 1815.50 after the better than expected manufacturing numbers.
SPI 200 future
FTSE 100 Index
Bloomberg, Dow Jones News