By Chris Becker
Friday night saw a big reversal in USD as the long awaited US unemployment (non-farm payroll or NFP) print for December showed a much less than expected pace – only 145K jobs created – with a subsequent risk-off mood on Wall Street. Undollars like gold and especially the Australian dollar broke higher on the disappointing print, with stock futures indicating a wobbly start to the trading week here in Asia.
Looking at Asian share markets performance on Friday first, where the Shanghai Composite put in a scratch session, closing less than 0.1% lower to 3092 points, while the Hang Seng Index also hovered along without much upside, finishing only 0.2% higher at 28603 points. The daily chart shows price action very well supported and remaining above the high moving average with momentum still in overbought mode which should support a continued uptrend:
