James Kong

Overnight, US markets fell marginally after an unexpected rise in weekly jobless claims and sluggish retail sales data.

New claims for unemployment insurance in the US rose by 19,000 last week to 479,000, ahead of expectations for a result near 455,000.

U.S. stocks fell slightly Thursday as investors traded cautiously ahead of the government's nonfarm payrolls report due Friday morning.

The AUD traded quietly overnight, within its recent range as investors remained sidelined ahead of US payrolls data tonight.

Demand for higher yielding assets dampened on concern China's bank stress tests will reveal losses, softening the Australian Dollar during Asia.

Profit takers were active today as the local market opened strongly on the back of positive leads from the US overnight.

The AUD has pushed higher again overnight as investor risk appetite continues to grow.

The US ISM services index rose from 53.8 to 54.3 in July - above expectations for a result near 53.0.

U.S. stocks rose Wednesday as better than expected signs for the employment environment calmed investors' jitters ahead of the government's Friday payrolls report.

The Australian goods and services balance printed a trade surplus of 3.54 billion in June annihilating expectations of 1.81 billion.

The Australian share market followed Wall Street into the red today, snapping a two day winning streak. The All Ordinaries Index (XAO) fell 26.8pts or 0.6pct to 4559.7, while the S&P/ASX 200 Index (XJO) fell 29.5pts or 0.7pct to 4542.1.

As banking-sector analysts get gloomy about Macquarie's earning prospects for the rest of 2010, speculation is also growing in recruitment circles that the firm may have to make redundancies before year-end.

The Australian sharemarket opened slightly lower this morning after a selloff on the U.S. markets overnight.

US personal income and personal spending were both largely unchanged in June - with results below market expectations.

U.S. stocks fell Tuesday as disappointing earnings from Procter & Gamble and Dow Chemical and a round of weaker than expected economic data prompted worries about the strength of the recovery.

The Australian Dollar has opened above USD0.9100 after a night in which ambiguity and uncertainty presented themselves to the markets again.

After yesterday's strong move up on the S&P it's no surprise to see markets pull back and consolidate those gains. The lead in for the Australian market is relatively benign with the S&P 500 closing at 1120, down 0.5%.

The Australian Dollar fell below 0.9100 US earlier in the day following an unexpected decline of -3.3% in June building approvals.

Investor sentiment was boosted today by a positive lead from Wall Street, firmer commodity prices and the Reserve Bank's decision to leave interest rates on hold.

The market got off to a strong start today, but was pushed back and forth by the finance sector - some banks moving in and out of positive territory.

The Australian sharemarket looks likely to gain for the second straight day this week with the S&P/ASX 200 index up 0.3pct or 14.5pts to 4556.1 whilst the broader All Ordinaries index (XAO) is gaining by 0.4pct or 17.7pts to 4572.1.

The materials, energy and finance sectors provided much of the power behind the local market's strong move this morning.

US markets started August with a bang, closing the session at 10-week highs after better-than-expected manufacturing data and some strong bank earnings out of Europe.

Last night saw a string of better-than-expected numbers lift confidence and encourage investors back into the market.

The AUD has had a strong night during the offshore session, currently trading comfortably above USD0.9100 after better than expected manufacturing data was released in the US and exceptional profit reports from some of Europe's main banks saw risk appetite back on the table.

US construction spending rose 0.1pct in June, better than forecasts centred on a decline of 0.5pct. The US ISM manufacturing index eased from 56.2 to 55.5 in July, better than forecasts centred on a reading of 54.1. Employment rose from 57.8 to 58.6.

U.S. stocks climbed Monday as encouraging data on industrial activity in the U.S. and Europe and better than expected earnings from European banks HSBC Holdings and BNP Paribas gave the market a strong start to the month of August.

The Australian Dollar continues to benefit from a weaker greenback and opens this morning buying 0.9136.

Australian stocks gained more than one per cent on Monday, with market sentiment driven by growing expectations that the Reserve Bank of Australia (RBA) will leave interest rates unchanged at its monthly board meeting on Tuesday.