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Market Drivers – Asian Session 05-11-2021

It was a bit quiet on Friday as the markets awaited employment data from the US due to be released on Friday.

The Nikkei index lost 0.61% to close at 29611.57 points, after rising 0.15% earlier in the session after a strong closing of the major US indices.

The broader Topix index fell 0.69% to 2041.42 points.

During the week, the Nikkei rose by 2.49%, while the Topix rose by 2.01%. Both recorded a rise for the second week in a row.

Gold futures rose 0.06% to $1,794.65, and is set to post its second weekly rise in three with a 0.7% gain.

The dollar index, which measures the greenback against a basket of six competitors, settled at 94.341 after rising 0.51% overnight. This raised it to the positive level this week, adding 0.21%, and the British pound was little changed on Friday after declining by 1.36% in the previous session which made it fall by 1.34% during the week.

Industrial Production in Germany showed an unexpected decline in September, the official data showed on Friday, suggesting that the recovery in the manufacturing sector is dwindling. Eurozone’s economic powerhouse’s industrial output drops by 1.1% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 1.0% rise expected and -4.0% last.

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