Macro Morning (trading week)

By Chris Becker

Friday being the monthly non-farm payroll (NFP) unemployment release in the US gives us the direction of risk sentiment for the remainder of the month. Or so one would think, except the Chinese authorities (in their infinite wisdom) deciding to cut interest rates over the weekend muddy the waters a little more.

The NFP result was good-good, i.e a good print plus a realisation that rates rises are not just around the corner. Before we see the market result that night and a longer term picture, let’s recap Asia’s Friday session.