International equity markets mostly finished with modest gains on Friday night after it was reported that China’s exports increased 14.1% in December, higher than the expected 5%.
In Europe, UK’s FTSE added 20 points (+0.3%) to settle at 6123 whilst Germany’s DAX gained seven points (+0.1%) to settle at 7716. France’s CAC increased three points (+0.1%) to settle at 3706.
In the US, the Dow Jones rose 17 points (+0.1%) to settle at 13488 whilst the S&P traded flat to settle at 1472. The Nasdaq added four points (+0.1%) to settle at 3126.
In the commodity space, both oil and gold fell after statistics showed that China’s consumer price index increased 2.5% in December spurring speculation that the Chinese government might not implement further policies.
Crude oil for February delivery dropped $0.26 to settle at $93.56 per barrel whilst gold futures for February delivery fell 1% to settle at $1660.60 an ounce.
In the currency space, the Japanese yen fell to a 30-month low against the US dollar after it was confirmed that Japan intends to spend 10.3 trillion yen ($116 billion) to stimulate the economy. The euro climbed against most of its peers after ECB President, Mario Draghi, mentioned that he foresees economic recovery in the euro area.
Today will see the release of the MI inflation gauge (10:30am, AEDT), the ANZ job advertisements (11:30am, AEDT), and home loans data (11:30am, AEDT).