Risk sentiment is very mixed here in Asia in response to an equally mixed result overnight as European bourses tread water while the US earnings season and continued inflation concerns keep Wall Street elevated. Locally the latest jobs figures dominated, but didn’t give the Aussie dollar that big a boost, while other currencies remained firm against USD. Bitcoin remains deflated at the $32K level after making a new three week low while gold continues to build on its breakout above the $1800USD per ounce level after brushing aside overhead resistance at the $1810 level:
The Shanghai Composite is up a solid 1% taking back the previous losses to be at 3560 points while the Hang Seng Index is doing the same, rising over 1% to get back above the 28000 point level. Japanese stocks however are going the other way with the Nikkei 225 closing 1% lower at 28279 points as the USDJPY pair pulls back again after its rebound trend fails completely and Yen safe haven buying accelerates:
Australian stocks have fallen the least in response to the jobs report with the ASX200 closing 0.3% lower at 7335 points. Meanwhile the Australian dollar absorbed the numberwang print with aplomb and is trying again to burst through the 75 cent level that has held all week:
Eurostoxx and S&P futures are pulling back again with the four hourly chart of the S&P500 retracing back to the start of week open point around the 4360 point level, with 4350 still providing short term support that has to hold:
The economic calendar continues with a jobs focus, with UK unemployment figures first, then US weekly initial jobless claims.