by Chris Becker
Some nail biting across stock markets across Asia today, as everyone awaits tonights NFP print from the US, including some frenetic selloff of Pound Sterling that saw a near 1000 pip move!
Here’s GBPAUD – a huge fat finger if I ever saw one, with no real explanation just yet:
The Shanghai Composite continues its holiday with the Hong Kong Hang Seng down 0.5%, taking back yesterday’s gains, while in Japan the Nikkei also lost 0.5% to close under 17,000 points as the Yen pauses its weakening trend against USD.
For the ASX200, it was also a selloff day, with no clear bias in any major sector, the market closing down 0.3% to 5465 points, still unable to get above resistance at 5500 points. No confidence going into the weekend!
In commodities, there’s early signs the oil is slowly tapering its gains, with WTI stuck at the $50.50USD per barrel level as a bearish rising wedge pattern forms clearly on the four hourly chart. Watch support at $49.30 for a reversal;
Tonight the currency to watch is the Euro, with the daily EURUSD setting up for a huge breakdown below the 1.11 handle if the NFP comes in greater than 200K:
The data calendar finishes the week with a bang, with the September non-farm payrolls – NFP or labour force or unemployment rate – for the US, with nothing else matters. Haveagoodweekend!