Asian share markets are putting in very mixed sessions to start the new trading week, absorbing the softer than expected US jobs print on Friday night that saw the USD fall back even sharper while Wall Street tumbled alongside lower bond yields. The Australian dollar was on a tear previous to the NFP print but has retraced slightly over the weekend gap to just above the 66 cent level this afternoon.
Oil prices are failing to claw back recent losses as Brent crude pulls below the $82USD per barrel level while gold is trying to extend its recent gains to almost cross the $2180USD per ounce level:
Mainland and offshore Chinese share markets are rising together again with the Shanghai Composite up more than 0.6% while the Hang Seng has advanced more than 1.3% higher to 16571 points. Japanese stock markets however responded poorly, with the Nikkei 225 closing nearly 2% lower at 38820 points while the USDJPY pair is still struggling after falling sharply last week, hovering just below the 147 level:
Australian stocks were nearly the worst in the region with the ASX200 losing 1.8% to close at 7704 points while the Australian dollar has reversed slightly below its Friday night finish point, but still above the 66 cent level:
S&P and Eurostoxx futures are steady and possibly ready to engage to the upside as we go into the London session with the S&P500 four hourly chart showing price action wanting to advance past the 5200 point level:
The economic calendar starts the week with a whimper after the big bang that was the NFP print on Friday.