The Trading Room®: Dollar and oil pause ascent…

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WORLD HEADLINES – Calm returned to world markets on Friday after a roller coaster week that has seen oil break $80 a barrel, government borrowing costs jump and emerging markets battered by a pumped-up dollar.

STOCKS – U.S. stock futures traded sideways ahead of the Wall Street opening bell on the last day of trade for the week.

BONDS – Italian government bonds continued their struggles, they have seen their biggest sell-off in over a year this week.

COMMODITIES – Brent crude oil futures were 16 cents higher at $79.46 a barrel after rising to $80.50 on Thursday, their highest since November 2014. Gold has had its worst week since early December, having dropped more than 2 percent.

CURRENCIES – Slowing Japanese core consumer price growth that kept the Bank of Japan’s elusive 2 percent target well out of reach saw the dollar hit a four-month high of 111 yen though it stalled had elsewhere.

ECONOMIC DATA – CAD CPI and Retail Sales due at 8:30,  FOMC Member Brainard Speaks at 9:15 ET.

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