US 2yr yields rose by 2pts and US 10yr yields fell by 1pt.
The US dollar was modestly firmer against major currencies in European and US trade on Friday. The Euro eased from
US$1.3250 to US$1.3180 and ended US trade near US$1.3220.
The Aussie dollar eased from highs near US89.55c to near
US88.90c before ending US trade near US89.00c. The Aussie has jumped to US89.35c this morning. And the Japanese yen eased from 97.87 yen per US dollar to JPY98.35, before ending US trade near JPY98.16.
World oil prices fell on Friday as commodities generally retreated in response to a firmer greenback. Fears about a disruption of Middle East oil supplies eased after US Secretary of State John Kerry spoke of a "limited strike" against Syria. Brent crude fell by US$1.15 or 1.0pct to US$114.01 a barrel while US Nymex crude fell
by US$1.15 or 1.1pct to US$107.65 a barrel. Over the week Brent rose by 2.7pct while Nymex rose by 1.2pct.
Base metal prices fell between 0.7-2.0pct on Friday with copper down the least while nickel fared the worst. Over the week metals fell up to 5.1pct with nickel down the most. Gold fell on Friday with
the Comex December futures price down by US$18.10 an ounce or 1.3pct to US$1,394.80 per ounce. Gold fell just US$1.00 over the week. The iron ore price eased by US60c on Friday to US$137.70 a tonne and was down US90c over the week.
Ahead: In Australia, the ABS Business Indicators publication, the TD Securities inflation gauge, building approvals and the RP Data- Rismark Home Value index are released. In the US, financial
markets are closed for the Labor Day holiday.
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