Risk markets are having a mixed start to the week after absorbing the NFP/US Unemployment print on Friday night, with weekend machinations help push down risk spirits somewhat. This is exemplified in the performance of Bitcoin since it seemingly topped out on Friday night just below the $42000 level and lost nearly $9000 or some 20% today before settling very weakly at the $35000 level. The hourly chart shows the one day plummet has wiped out nearly all of this years gains (sic):
The Shanghai Composite is hovering as a scratch session going into the close, down 0.1% to 3565 points, while in Hong Kong the Hang Seng Index is still lifting higher, up some 0.7% to be above 28000 points. Japanese markets are closed while trading in the USDJPY pair sees it burst above the 104 handle, continuing its surge off the December lows:
The ASX200 was the standout, unable to comeback after a seemingly good retail sales number and losing nearly 1% to finish just below the former 6700 point barrier while the Australian dollar also flopped alongside other undollar assets, heading down to four hourly support and just below the 77 handle proper:
Eurostoxx and S&P futures are clawing back some of their Friday night gains going into the European open but the effect so far has been muted with the four hourly chart of the S&P500 still showing a lot of buying support as it gets ready to go much higher than the 3800 point level:
The economic calendar is very quiet tonight, with a few speeches to watch out for, notably ECB President Lagarde, but also its time for second breakfast, I mean impeachment, so watch for some political chaos in Washington, although so far risk markets have ignored the action.