Asian stock markets are generally positive heading into the final session of the week with the return on Hong Kong markets but all the focus was on the Amazon earnings result post close that clawed back a huge selloff on the NASDAQ overnight because of the catchup to the previous Facebook/Meta earnings drop. Just what we need before going into the US jobs print tonight. Currency markets had the biggest response however to the ECB/BOE meetings overnight with their hawkish attitudes keeping undollars afloat, although the Aussie dollar is floating around going nowhere. Gold remains above the $1800USD per ounce level as it looks set to put in a new weekly high, although given the recent volatility and the inability to clear short and medium term resistance this may prove too far a hurdle to jump:
Mainland Chinese shares remained closed for Chinese New Year and won’t be back until next week, but the Hang Seng Index reopened and has put in a stonking effort so far, up 2.7% to 24447 points with Japanese stock markets putting in modest sessions, with the Nikkei 225 currently up 0.3% to 27328 points. Meanwhile the USDJPY pair is stuck here just below the 115 handle after making a comeback overnight from its start of week decline:
Australian stocks had yet another meandering wavering session with the ASX200 about to close 0.1% higher at 7083 points, while the Australian dollar continued to slide sideways after going nowhere overnight, continuing to find short term resistance at the 71.50 level, still shy of last week’s intrasession high:
Eurostoxx and Wall Street futures are steady into the London open, with the S&P500 four hourly chart showing price just above the 4500 point level as the market will re-weigh sentiment following the Amazon earnings. This is a key level that must be supported:
The economic calendar finishes the week with the big one – US non farm payrolls/unemployment for January.