Markets were generally quiet on Friday night after a tumultuous week in global equities.
US equities tracked higher for a second consecutive session with the S&P 500 and the Nasdaq both closing 0.5% higher on the day. For the week, the S&P500 clawed back most of the large losses from early in the week to close near flat.
The focus this week will be on the US inflation report for July, which will determine whether the Fed has the scope to respond to the risks around the labour market and real economy.
In Australia we also have important labour market data this week, including the wage price index on Tuesday and jobs report on Thursday.
In currency markets the USD/JPY regained some of its losses from earlier in the week as the Nikkei rallied, and the Aussie traded just above 66 cents on Friday before retreating back to the mid 65 region.
Key commodities including gold, copper and oil, were all higher on Friday, supporting the rebound in risk sentiment.
