Asian stock markets are having very mixed finishes to the trading week with a lot of internal and external macro pressures weighing on risk taking across the region as markets react to the very hawkish shift at the Federal Reserve. The USD remains the safe haven of choice with gold and the Australian dollar under a lot pressure alongside other risk currencies while Bitcoin continued its break below the $46K level, now losing over 10% to almost get below $40K as buyers evaporate:
Mainland Chinese shares are building slightly with the Shanghai Composite up 0.3% to 3598 points while the Hang Seng Index is bouncing back, up over 1% to get back above the 23000 point level, currently at 23337 points. Japanese markets are still not liking the mood with the Nikkei 225 closing 0.2% lower at 28424 points while the USDJPY pair is hovering just below the 116 handle after trying to return to its former highs:
Australian stocks bounced back from their bad selloff, with the ASX200 closing 1% highr at 7444 points while the Australian dollar remains on the mat, still below the 72 level and unable to make a new session high with the USD just too strong:
Eurostoxx and Wall Street futures are unchanged but hesitant going into the London open, with the S&P500 four hourly chart showing price poised here just below the 4700 point level after breaking below the 4750 point support level on the hawkish Fed minutes – will it crack if the unemployment print is too good?
The economic calendar will focus squarely on the US unemployment print (non-farm payrolls/NFP) tonight.