Macro Afternoon

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Asian stock markets are having a quite mixed start to the trading week despite the solid leads from Wall Street on Friday night as traders position for this week’s NFP print on Friday. The USD is pushing higher against Yen and Euro while the Aussie dollar is unchanged, still holding above the 75 level. Oil prices are snapping back with Brent crude falling to almost the $110USD per barrel levels as gold lost ground during the Asian session. Bitcoin is having its day in the sun, advancing up to the $47K in a one way trade:

Mainland Chinese shares started poorly but were able to fill in by the close with the Shanghai Composite finishing with a scratch session at 3212 points while the Hang Seng Index has bounced back after its rout on Friday to climb 0.8% to close at 21585 points. Japanese stock markets however went the other way with the Nikkei 225 down 0.7% to 27943 points while the USDJPY pair is shooting higher again as the London session gets underway, breaching the 123 handle this time in its unstoppable move higher:

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Australian stocks put in a scratch session after starting well enough, with the ASX200 closing only 0.1% higher to 7412 points. Meanwhile the Australian dollar is still holding above 75 level after pushing aside strong resistance that had developed there but is slowly losing momentum in the short term:

Eurostoxx and Wall Street futures are barely moving higher with the S&P500 four hourly chart showing a desire to climb further above the 4500 point level after recently confirming support at the 4400 point area:

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The economic calendar starts the trading week slowly with some tertiary retail data out of the US, followed by some Treasury auctions.