The fallout from the US unemployment print on Friday has been quite positive, with all stock markets closing higher here in Asia. The USD remained steady against the majors, as most of the action was priced in the late Friday session. Commodities were relatively stable as well while the bond market lifted with the Aussie 10 year yield off by one basis point.
The Shanghai Composite had a much better session today, closing over 1.4% higher to 3135points. The Hang Seng Index was not as gregarious, putting in a scratch session to finish under 30000 points again with the bearish triangle on the daily chart fully pricing in a breakdown to at least 28900:
S&P futures are up with confidence definitely back in the saddle following the NFP. The cash session will be illustrative to see if gains can be made above the series of lower highs on the daily chart:
Japanese stocks returned from their holidays with the Nikkei 225 also putting in a scratch session to finish at 22467points. Trading in Yen was better on volume and action as a result with the USDJPY pair lifting above the 109 handle after its mild retracement late last week. The daily chart still shows promise here if the session lows at 108.70 or so are respected:
The ASX200 had a solid, lifting nearly 0.3% to close at the 6083 point level, closing in on the next series of highs around 6100 points. The Aussie dollar failed to continue its recent rebound rollling over to the 75 handle against USD in what looks like another good setup for shorts to step in here:
The economic calendar starts the week slowly as usual after the NFP print with US Treasury auctions the only event to keep an eye on.