Morning Update – 12/08/16 – by Arjun Lakhanpal

Morning all.. Wall St set another few records last night as stocks across the board moved higher again. The S&P closed up 0.47 followed by the Dow and NASDAQ making new record highs. Japan re-opened and moved higher by over 1%. European shares erased the slump that followed Britain’s secession vote. Oil climbed, while Treasuries slumped. West Texas Intermediate for September delivery climbed 4.3 percent to settle at $43.49 a barrel in New York and rose further in Asia, this putting pressure on USDCAD. Benchmark 10-year note yields rose five basis points, or 0.05 percentage point, to 1.56 percent but have drifted lower in Asia..China’s industrial output for July grew 6 percent on-year, a touch lower than a Reuters poll forecast for a rise of 6.1 percent. Retail sales were up 10.2 percent in July, compared with a Reuters forecast of 10.5 percent, while fixed asset investment growth eased to 8.1 percent on-year in the January-July period, with the market expecting the number to come in at 8.8 percent.. AUD slipped on the China data taking Kiwi with it. This morning we get Spanish CPI and Italian GDP data and UK Construction output data.  We also see EU GDP and Industrial production.. Good luck..