@@ CRUDE >>> Crude oil futures are trading slightly higher in the Asia electronic session today with the investors awaiting the U.S. monthly jobs report due on Friday. Crude for July delivery is trading up 9 cents at $94.85 per barrel on the New York Mercantile Exchange. Yesterday, it rose $1.02, or 1.1%, to $94.76 a barrel, marking the highest close since May 28. In the currencies today, the U.S. dollar fell to ¥96.49, down more than half a yen from late Thursday’s ¥97.07, but still holding above the previous day’s low of ¥95.88. The dollar’s dive against the yen gained steam after market disappointment over a slate of economic policies announced Wednesday by Prime Minister Shinzo Abe, which sent the greenback solidly below the ¥100 level. Meanwhile, most Asian markets fell Friday on caution ahead of the U.S. nonfarm payrolls data, while Japanese stocks dropped for a third straight day as exporters came under pressure from the yen’s sharp gains overnight. Australia’s S&P/ASX 200 dropped 0.7%, South Korea’s Kospi lost 1.1% and Hong Kong’s Hang Seng Index shed 0.6%. Japan’s Nikkei Stock Average dropped 0.9%. The benchmark had earlier in the day suffered a bigger drop to record losses of more than 20% from the peak it reached on May 23, entering a so-called bear-market territory. The Labor Department’s report is slated to be released at 8:30 a.m. Eastern time Friday. On Thursday, data showed that U.S. jobless claims in the week ended June 1 fell 11,000 to a seasonally adjusted 346,000. The European Central Bank held its benchmark interest rate at 0.5% and ECB staff are now projecting a steeper contraction in 2013 euro-zone gross domestic product than previously estimated. MCX June crude oil futures trading near Rs 5396 levels with support around Rs 5360-40 levels.
Posted on: Fri, 07 Jun 2013 04:43:53 +0000
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