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Asian stocks swung between gains and losses overnight following Chinese date which showed a rise in China’s imports to the most in five months, indicating that domestic demand will support economic growth. Inbound shipments advanced 8.3% from a year earlier.  

European futures are indicating a higher open, ahead of key US jobless data at 13:30. Expectations are for a creation of 197,000 jobs with the unemployment rate flat at 7%. A number of analysts remain bullish with Goldman Sachs upgrading the estimate to 200,000 whilst Deutsche Bank gives a confident 250,000. 

Gold was strong this morning, climbing ahead of US jobs data as investors weighed the outlook for physical demand against speculation the Federal Reserve may cut stimulus further.

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