Yen strengthens against dollar following weak US jobs data on Friday

<p>There has not been much movement in the major currency pairs but we have seen the yen strengthen against the dollar after the weak figures […]</p>

The video cannot be shown at the moment. Please try again later.

There has not been much movement in the major currency pairs but we have seen the yen strengthen against the dollar after the weak figures released in the US on Friday.

Japanese stocks moved lower overnight on the back of this. But in contrast to Japan weakness, non-manufacturing PMI data suggested that decelerating growth rates are stabilising in China.

This data and a report by HSBC came in above the 50 level that signals expansion. As a result of this, the September oil contract has risen above the $107 level.

The FTSE is currently trading up around 28 points at 6675 and the Dow and DAX futures are fairly flat at 15642 and 8423.

The bookmaker William Hill is the largest riser of the session so far, up 10p but this is on the back of a 35p drop on Friday that was caused by a worse than expected performance in its newly acquired Australian business.

Engineering company Smiths is the biggest loser of the session, with its shares down 5.5% in early trading. This is due to the termination of talks with a potential bidder for their medical division.

Figures to look out for today are the services PMI from the UK at 9.30am BST and non-manufacturing PMI from the US at 3pm.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.