Global equity markets have risen as diminished expectations of USA interest rate rises this year pushed the U.S. dollar lower, which in turned boosted the prices of many commodities. The RBA continued to stress that any rate cut would depend on jobs data and whether recent financial market turmoil led to a weaker global economy. That has sent the dollar lower against other currencies, a welcome change for USA exporters whose overseas sales have been hurt by the appreciation of the dollar over the a year ago and a half. JANUARY JOBS: All eyes are on the US government's employment report for last month, which will be released later Friday after Asian markets have closed. "We can't rule out the possibility that the dollar will test ¥115.97 (its low set on January 20) and ¥115.85 (set on January 16 2015)", if USA labor data due out later today disappoints, said J.P. Morgan, which expects nonfarm payrolls added 175,000 new jobs in January. Investors are preparing for Friday's US monthly payrolls report, which could go a long way to determining whether the Federal Reserve raises interest rates again next month. "The market is starting to price in a small chance of recession, not some realistic chance, but enough of a chance to give investors pause and reposition", said Khoa Le, who co-heads a derivatives trading desk at Credit Suisse. USA economic data on Thursday, including figures showing new orders for factory goods fell in December by the most in a year, reinforced views that the Fed, the US central bank, would delay further rate hikes. In an interview with Market News International, Dudley also warned that a sharp rise in the dollar could have "significant consequences" for the USA economy. With a rate hike looking less likely, the dollar has taken a hit this week, sinking well below 117 yen, from above 121 yen at the end of last week when the Bank of Japan said it would adopt a negative interest rate policy. In other company news, mobile video camera maker GoPro plunged 93 cents, or 9 per cent, to $9.78 after the company reported a wider-than-expected fourth quarter loss. The Nasdaq composite climbed five points, or 0.1 percent, to 4,509. RETIREMENT PARTY: CBS and Viacom shares were up 1 percent each after Viacom announced that its 92-year-old majority shareholder, Sumner Redstone, was stepping down as CEO to be replaced by CBS CEO Les Moonves. The euro EURUSD traded at $1.1211, up from $1.1109 late Wednesday in NY and topping the $1.12 level for the first time since October. The U.S. currency fell 0.8 percent against a basket of major currencies on Thursday and is down 3 percent for the week, on pace for its worst week since May 2009. The euro was steady at $1.1200 and headed for a 3.4% gain on the week, its biggest in more than four years. Sinema Blaze http://cinemablaze.com/2016/02/05/us-stocks-move-higher-in-early-trading-crude-oil-recovers.html

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