Morning Update – 06/11/15 – 08:55:12

Morning all… US Stocks closed marginally lower but the attention was all on GBP after the BoE “super Thursday”.. GBP remained under more pressure in Asia after a weak close in NY. A decidedly dovish BoE was the other big theme yesterday, raising questions about a possible push-back in hike expectations to 2017 and which resulted in Sterling selling off over a percent versus the Dollar and Euro. Markets continue to be in risk-off mode post-Yellen’s comments earlier in the week as US equities retreated again yesterday, although the fairly modest moves indicating that there’s not a whole lot of conviction ahead of today’s employment report. Meanwhile, Treasury yields moved a tad higher with the 10y up another basis point at 2.232% and extending the seven-week high. Equity bourses in China have extended their bull run with the Shanghai Comp +1.20%, while the Shenzhen is up a sharp +2.10%. It’s a better end to the week for the Nikkei (+0.74%) and ASX (+0.42%) too.. Elsewhere in FX markets we saw USDJPY rise again testing 122.00 where it failed yesterday. EURGBP higher on GBP weakness but elsewhere quiet. Looking at the day ahead now, the main data of note in the European session this morning are the various September industrial production reports out of Germany, UK and Spain. We’ll also get the latest September trade data numbers out of France and the UK. The focus this afternoon will of course be on the October payrolls number.. Good luck.