■ Dec’s Nonfarm disappoints, but accompanying data appears quite positive

■ Dow sets new 19,999.63 point record high, but fails to meet 20K mark

■ U.S. bond yields rise and USD strengthens in anticipation of further Fed tightening

■ Chinese Renminbi fails to recover losses as outflow pressure persists

■ China central bank warns of Bitcoin investments, leading crypto currency to USD 898.2

As incoming economic data suggests, times are indeed a changing. On the one hand, the U.S. Non-farm Payrolls figure, released on Friday, suggested a fairly lackluster 156K jobs added to the/ U.S. economy during the month, falling below analyst expectations of 175K. Accompanying indications, however, were very much on the positive end, with November’s figure rising from 178K jobs to 204K. Average Hourly Earnings, additionally, are now pointing to a 2.9% annual growth rate, setting yet another highest-since-2009.

Following an initial hiccup, bond markets experienced strong selling pressure, pushing higher yields, as these move inversely to prices. The U.S. stock market, meanwhile, is apparently yet to have made up its mind on how to price-in the evident heating up of the U.S. economy. The Dow index recorded initial jiggling below the 19,900 point level at the start of Friday’s session. Interpretation to the Non-farm figure then turned positive, with the index moving rabidly higher.

Hopes of reaching the 20,000 point mark were shattered, however, as the index merely managed to hover below that, touching an intra-day high of 19,999.63 points. Positively, the shortened trading week did see the index gain a full percentage point, which makes it the largest weekly advance in four. The S&P 500, similarly, advanced 1.7% for the week, also setting a new record high, at 2,282.10 points.

Gain at the technology intensive Nasdaq Composite amassed to 2.6% for the week, aiding the index score a new intraday record high of 5,536.52 points, on Friday.

U.S. investors gained not only from the increases in equity prices, but also from the strengthening of the Greenback itself, as prospects of less monetary accommodation by the Fed aided the currency to strengthen some 0.7% during the day, leading EUR/USD back to a 1.0530 handle.

Bitcoin’s rise signals Chinese monetary outflow pressure

The Chinese Renminbi experienced a fairly volatile session during the week, sending USD/CNY to a low of 6.8694 on Thursday, and down 0.8% for the day. This was followed by a sharp correction on Friday, with a 0.7% strengthening of the Dollar, setting the pair at 6.9241. Movement at the CNY was highly correlated with that of Bitcoin, for some time at least. The cryptocurrency initially climbed to a level of 1,161.9 USD on Thursday. It then saw a sharp decline to around USD 970, along with the strengthening of the CNY. Unlike the CNY, however, Bitcoin suffered further selling pressures on Friday, amid a warning issued by China’s central bank, urging investors in the currency to take a rational approach investing in it.

Data released on Saturday indicated a further decline of China’s Foreign Reserves, signaling monetary outflow pressures, to USD 3.01 trillion, from 3.05 in November and down nearly a trillion from a year and a half prior.