OVERNIGHT MARKETS AND NEWS, Friday, June 7th, 2013

June E-mini S&Ps (ESM13 -0.06%) this morning are down -0.11% and European stocks are lower by -0.27% as global markets await this morning's U.S. May payrolls report. Asian stocks closed lower: Japan -0.21%, Hong Kong -1.21%, China -1.73%, Taiwan -0.01%, Australia -0.91%, Singapore -0.28%, South Korea -2.07%, India -0.46%. European stocks failed to garner much support from an unexpected increase in German Apr industrial output or from a larger-than-expected increase in German Apr exports. Commodity prices are mostly higher. July WTI crude oil (CLN13 +0.46%) is up +0.57%, July gasoline (RBN13 +0.33%) is up +0.27%, July natural gas (NGN13 +0.42%) is up +0.26%, Aug gold (GCQ13 -0.42%) is down -0.32% and July copper (HGN13 -0.14%) is up +0.06%. Agriculture prices are higher. The dollar index (DXY00 -0.26%) is down -0.23%. EUR/USD (^EURUSD) is up +0.05%. USD/JPY (^USDJPY) is down -1.63% at a 2-month low as the yen surged after Japanese Finance Minister Taro said he had no immediate intention to weaken the currency. September 10-year T-note futures prices (ZNU13 +0.13%) are up +4.5 ticks.
USD/JPY tumbled to a 2-month low as the yen strengthened after Japanese Finance Minister Taro Aso said "We are carefully watching but we don't have any immediate intention of taking any action, such as intervention," to weaken the yen.
ECB Council member Nowotny hinted the ECB may refrain from pursuing additional stimulus measures should the Eurozone economy recover this year when he said "If there's an economic improvement in the second half, we'll have to see whether additional tools become necessary."
German Apr industrial production unexpectedly rose +1.8% m/m, the most in 13-months and better than expectations of unchanged m/m, while Apr industrial output climbed +1.0% y/y, better than expectations of a -0.7% y/y decline.
The German Apr trade balance was 18.1 billion euros, wider than expectations of 17.0 billion euros. Apr exports rose +1.9% m/m, stronger than expectations of +0.1% m/m and Apr imports climbed +2.3% m/m, stronger than expectations of +0.5% m/m.
The Japan Apr coincident index CI rose to 94.8 from 93.8 in Mar, slightly weaker than expectations of 94.9, while the Apr leading index CI jumped to a 5-1/2 year high of 99.3 from a revised 98.0 in Mar, stronger than expectations of 98.8.