A mixed start to the trading week here in Asia despite the full return of mainland Chinese and Japanese markets and a booming Wall Street on Friday night following the very disappointing US unemployment print which shook up a lot of expectations. The USD is still under enormous pressure with gold extending its gains above the $1800USD per ounce level while the Australian dollar survived the weekend gap and is heading on towards the 79 cent level against King Dollar.
Meanwhile in crypto land, Bitcoin has jumped higher despite the Musk Shenanigans on SNL that saw Dogecoin drop off a cliff with a move back towards the $59K level to make a new weekly high as it wants to get beyond the $60K level:
The Shanghai Composite is having a staid start the week, basically unchanged at 3418 points, while the Hang Seng Index is almost not making any headway, currently down 0.2% to 28558 points. Japanese stocks are doing a lot better however, with the Nikkei 225 closing 0.55% higher to 29518 points as the USDJPY is able to claw back some of the losses from the Friday night rout, heading back to just below the 109 handle but nowhere near out of water yet:
The ASX200 is having a great start to the week, finishing more than 1.3% higher to 7172 points while the Australian dollar initially paused on the weekend gap before re-engaging higher after its big lift on Friday night, now well above the mid 78 level:
Eurostoxx and S&P futures are up 0.5% with the four hourly chart of the S&P500 showing price wanting to extend gains past the 4200 point record levels achieved on Friday night but momentum is very overbought here and we could see some heat taken out of the market as post-NFP assessments continue:
The economic calendar resets following the latest US unemployment print with the usual smattering of short term Treasury auctions later tonight and not much else.