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

Source