Asian stock markets are following the strong lead from Wall Street on Friday night with surges across the region, as USD remains weak following its shutdown post the very weak US unemployment print. Bitcoin has broken out of its funk, finally able to make a new high above the previous resistance level above $38K as momentum builds strongly on the four hourly charts:
The Shanghai Composite is up over 1% going into the close, surging back above the 3500 point barrier while in Hong Kong the Hang Seng Index has put on a more modest 0.3% to close at 29380 points. Japanese markets are leading the way again with big gains with the Nikkei 225 accelerating more than 2% higher to 29388 points with the USDJPY pair taking back half of the small loss it suffered on Friday night and right on the 105 mid point:
The ASX200 had a solid session to start the week, up over 0.5% to close at 6880 points with the Australian dollar able to hang on to its post NFP gains but still shy of the 77 handle here:
Eurostoxx and S&P futures are gapping higher, with the four hourly chart of the S&P500 showing yet another increase above Friday night’s surge as it heads to the 3900 point level:
The economic calendar is very quiet as usual post the US employment print with German industrial production figures and a speech by ECB President Lagarde the only events of note.