Local Markets Commentary
The Australian market opens Friday trade following further gains across US equities markets,and as several large-cap stocks pay out dividends. 

Notably, US futures have dropped dramatically post-US settlement.

In overnight commodities trade, US gold futures swung lower. Oil turned higher.

Iron ore (China port, 62% Fe) was unchanged during a public holiday in China. 

LME copper and nickel swung higher and rallied. Aluminium extended Wednesday’s gains.

The $A traded in a relatively narrow range after falling to ~US76.80c early yesterday evening, and has since dropped below US76.60c.

Locally today, ASB, CTX, CWY, IVC, SPK, TWE, WTC and WOW are among companies scheduled to pay dividends.

China’s March foreign direct investment and foreign reserves are anticipated over the weekend.

Meanwhile China’s markets remain closed for a second consecutive day, due to a public holiday.

Overseas Market Commentary
Major European and US equities markets opened and closed higher overnight, but choppy trade featured.

Among US data releases, the February trade deficit reached a 9.5-year peak, rising 1.6% to $US57.6B. Imports and exports each increased by 1.7%.

Weekly new unemployment claims rose by 24,000, nonetheless remaining at historic lows, well below the psychological 300,000 tally.

A March jobs layoff report revealed planned cuts were at an almost two-year high of 60,357, representing a 39% year-on-year increase and ~100% jump for the month. For the quarter, job cuts rose 44%.

Germany’s February factory orders improved 0.3% following a 3.5% drop in January, but against forecasts of a 1.5% rise. 

Euro zone February producer prices were reported 0.1% higher for the month, after rising 0.4% in January.

March services and composite PMIs each slipped 0.1% to 54.9 and 55.3 respective readings. 

Tonight in the US, March employment figures are keenly anticipated. February consumer credit is also due.

Elsewhere, Bank of England governor Mark Carney is scheduled to speak publicly.