In Asian Equity Markets stocks failed to latch on to a global record-setting rally on Friday, held back by Chinese property stocks, while the dollar stood tall following a week in which central banks around the world refrained from any hawkish surprises. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.14 percent and was flat on the week, while Japan’s Nikkei fell 0.7 percent, albeit from a month high reached the day before, as manufacturers’ earnings disappointed. Shanghai shares lost 0.6 percent though Chinese blue chips fell 0.3 percent.

In Currency Markets the dollar was on course for a second straight week of gains against major peers on Friday, ahead of a key U.S. jobs report that could sway the timing of Federal Reserve interest rate increases. The dollar index was steady at 94.327 after rallying 0.51 percent overnight. The euro was little changed at $1.1556 after falling 0.49 percent overnight, putting it on course for a 0.16 percent decline this week. The dollar was about flat at 113.67 yen, down 0.29 percent since last Friday. The Aussie dollar was slightly lower on the day at $0.7394, while New Zealand’s kiwi dollar lost 0.09 percent to $0.70915.

In US Equity Markets the S&P 500 and Nasdaq rose on Thursday, extending their streaks of record high closes to six sessions and investors digested the Fed’s decision to start reducing its monthly bond purchases. The Dow fell 0.09 percent, to 36,124.23, the S&P 500 gained 0.42 percent, to 4,680.06 and the Nasdaq Composite added 0.81 percent, to 15,940.31. Qualcomm shares rose 12.7 percent as the company forecast better-than-expected profits and revenue for its current quarter on soaring demand for chips used in phones, cars, and other internet-connected devices.

In Commodities Markets oil prices turned negative on Thursday, reversing earlier gains in a volatile session after a report that Saudi Arabia’s oil output will soon surpass 10 million barrels per day for the first time since the onset of the coronavirus pandemic. Brent crude fell 29 cents to $81.70 a barrel after earlier rising to $84.49 a barrel. U.S. West Texas Intermediate crude fell 77 cents to $80.09 a barrel. Spot gold rose 1.3 percent to $1,791.71 per ounce. Spot silver rose 1.2 percent to $23.76 per ounce and palladium gained 0.1 percent at $2,001.18 per ounce. Platinum fell 0.2 percent to $1,026.56 per ounce.

In European Equity Markets stocks rose on Thursday to hit record highs as investors took comfort from the U.S. Federal Reserve signalling it was in no hurry to hike interest rates, while the Bank of England left its benchmark rate at an all-time low. The pan-European STOXX 600 closed 0.4 percent higher. The Bank of England, meanwhile, caught investors by surprise, as it left its benchmark lending rate unchanged, slamming sterling and lifting London’s FTSE 100 by 0.4 percent. Germany’s blue-chip index DAX rose 0.4 percent after strong earnings from Deutsche Post led to a 3.0 percent rise in its stock.

In Bond Markets U.S. Treasury yields fell and the yield curve steepened on Thursday as the market unwound from expectations of quicker Federal Reserve interest rate hikes a day after the central bank signaled it was in no hurry to do so. The benchmark 10-year yield, which rose as high as 1.609 percent earlier in the session, later fell to its lowest level since mid-October at 1.509 percent, marking its biggest downward move since July 19. It was last down 5.8 basis points at 1.5209 percent. The five-year yield was last 8.4 basis points lower at 1.1008 percent.