The dollar held firm at one-week highs on Friday

Good Morning,

- The dollar held firm at one-week highs on Friday, after surprisingly strong U.S. jobs growth yesterday.

- Asian shares: Japan's Nikkei 0.58%, Hong Kong's Hang Seng -0.03% (07:09 GMT), Korea's Kospi -0.07%, Australia's ASX 200 0.59% and China's Shanghai -0.19%.

- U.S. markets shut on Friday for the Independence Day holiday.

- The dollar index climbed as far as 80.315, well off an eight-week trough of 79.740 plumbed earlier in the week.

- The ECB, as expected, left interest rates steady at record lows on Thursday but said it stood ready to do more if needed.

- Draghi said yesterday on his press conference: We don't see deflation. Says they are confident their measures will help drive inflation to 2% over the medium term.

- ECB's Coeure: The only way to move from current low interest rates is to reinvigorate productivity in the euro zone, with states continuing reforms and budget consolidation.

- The U.S. two-year Treasury yield jumped to a 10-month peak and Wall Street hit a record high, with the Dow ending above 17,000.

- Wall Street economists moved up their estimated dates for the Federal Reserve’s first interest-rate increase since 2006 after job growth surged in June beyond forecasts, cutting unemployment to almost a six-year low. Employers expanded payrolls by 288,000 workers last month, pushing down the jobless rate to 6.1 percent, a level Fed officials didn’t expect to see before the end of the year.

- The U.S. trade deficit narrowed a bit more than expected in May as exports jumped to a record high, suggesting trade could be less of a drag on second quarter growth than earlier feared. The Commerce Department said on Thursday the trade gap fell 5.6 percent to $44.4 billion.

- Germany new orders in manufacturing in May 2014 decreased a seasonally and working day adjusted 1.7% on April 2014 (following +3.4% in April 2014 on March 2014), according to provisional data of the Federal Statistical Office (Destatis). Domestic orders decreased 2.5% and foreign orders by 1.2%.

- Citi on GBP/USD: Citi notes that it is testing strong resistance in the 1.7140-1.7180 range and this resistance was very pivotal into the October 1998 peak. "It is worth noting that the high so far on GBPUSD has been 1.7177 in this move higher. The high of the trend into the October 1998 peak after a rally from a 1.48 “handle” in 1996 was 1.7178. This move began off a 1.4814 low in July last year," Citi adds. "While this 1.7140-1.7180 range holds (Weekly close basis) our bias would be that a top is being put in like in 1998. A weekly close above 1.7180 would question this assertion and suggest further GBP gains could be likely," Citi projects.

- The Swedish fell sharply after the Riksbank cut its key interest rates by an unexpectedly large 50 basis points to 0.25 percent. The Swedish crown fell to its lowest against the euro in almost three years, reaching 9.3900 crowns per euro from 9.1950 before pulling back a little to 9.2910. Against the dollar, it slumped to a two-year low of 6.8749 per dollar.

Have a nice Weekend!