See the latest Australian dollar analysis here:
It’s been a relatively good finish to the trading week here in Asia despite epic overseas volatility with stock markets putting scratch sessions or slightly higher closes. The currency and bond markets are poised for tonight’s US unemployment print, the result of which hinges on the Fed’s next interest rate move.
The Shanghai Composite has escaped doom by finishing a few points higher to 2606 points, barely hanging on above the previous support level at 2600 points. The Hang Seng Index has retreated ever so slightly, down only 20 points or 0.1% to 26137 points, still well below the previous support level and the low moving average on the daily chart, but holding off from broader selloffs:
US and Eurostoxx futures are up slightly going into the London open, with the four hourly S&P 500 futures chart showing last night’s bounce back that needs to fill in above 2700 points above the high moving average as soon as possible:
Japanese stocks have done well all things considered, with the Nikkei 225 closing 0.8% higher to 21578 points, staving off a new weekly low. The USDJPY pair has come back a little during today’s session, almost getting back up to the 113 handle, not exceeding the high moving average on the four hourly chart and looking like a swing play only:
The ASX200 put on some runs to finish the week on a slightly positive note, lifting 0.4% to 5681 points, but still unable to get back above previous support at 5700 points. The Aussie dollar however stayed depressed, hovering around the low moving average on the four hourly chart, slipping to the low 72s as the RBA again checks itself over reality:
The economic calendar finishes the week with the most important event on the calendar, the US non-farm payroll (NFP) or unemployment figures for November.