Market Summary

      Stock Market

·         Asian stocks advanced for third week as improved U.S. hiring and retail sales elevated the outlook for earnings at companies linked to the global economic recovery.

·         Nikkei 225 rose to post-quake high as demand bolstered advertisers and developers.

·         The Australian share market on Friday closed firmer after strong gains in the resources, retail and telecommunication sectors.

Forex Market

·      Asia currencies strengthened this Week on speculation the world’s fastest economic growth and rising interest rates will spur more fund inflows from abroad.

·      Yen set for weekly drop as growing U.S. job data and German exports may curb demand for safe-haven currencies.

·      The Australian and New Zealand dollars set for a second weekly rally against the yen as a global rise in stocks and commodities boosted demand for higher-yielding assets.

      Commodity Market

·   A group of traders surveyed by Bloomberg stated that gold may advance next week as debt concerns boost demand.

·   Oil headed for second week of gains on economic recovery outlook which may boost consumption.

·   Cocoa dropped to its lowest price this week on worry that producers are planning at least 60 projects worldwide that will expand output and overwhelm demand.

    Bond and Yields

·    Treasuries declined for a second day as economists predict U.S. employment will increase.

·    Italian 10-Year bond yield rose to 5.23 percent, the highest yield since July 2002.

Global Dow Jones Index

As seen on the daily chart of Global Dow Jones Index (GDOW), the gauge rose on Thursday despite still traded below resistances at 2,165.41 and 2,181.80. Six-day rally seems paused as long as the resistances hold even temporarily. MACD and 200-day moving average exhibited the upward possibility remains strong. However, failure to penetrate the resistances will lead GDOW back to test SMA 200-day at 2,110.32.

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