Another down day for Asian stock markets as local markets erase the one-off blip on Wall Street overnight as oil prices come back slightly and USD strengthens against Yen and gold. Japanese and Chinese PMIs came in poor as expected with the PBOC weakening the Yuan significantly against USD to over the 7.11 handle.
The Shanghai Composite is down 0.3% going into the close at 2771 points while the Hang Seng Index is down 0.6% to 23141 points, still nowhere near its high moving average on the daily chart, and not threatening to breakout anytime soon:
Japanese share markets had another round of modest falls with the Nikkei 225 losing 0.59% to close at 17713 points, obviously still well under resistance at the 19000 point level as the USDJPY pair bounced a little in late trade, getting back up to the 108 handle but still shy of its earlier week highs in anticipation of tonights NFP print:
The ASX200 bull trap looks near complete with a gap higher at the open that then turned into a selloff going into the weekend, with the market closing 1.7% lower at 5067 points. Meanwhile the Aussie dollar is still hurriedly going nowhere, still stuck below the 61 handle as it looks set to complete a rounding top pattern:
Eurostoxx and S&P futures are relatively steady going into tonight’s session with the four hourly chart of S&P futures indicating anchoring here at support above the 2420 point region, but this could all tumble over on tonights employment print shock:
The economic calendar will focus squarely on the US non farm payroll report tonight, which will obviously include the big hits from the virus shutdowns – or not shutdown depending on the ineptitude of the State Governors in the ‘States. Stay home and stay safe this weekend!