Share markets are having a relatively good final session for the trading week, as markets anticipate tonight’s US non-farm payrolls AKA unemployment rate print that will set the tone for risk taking for the rest of the month. In currency land, the Australian dollar is holding on to its recent gains while Euro wants to push higher against USD. Oil prices are sliding very slightly with Brent crude still hovering near the $120USD per barrel level while gold is trying to follow through on its recent new daily high as it gets back above the $1850USD per ounce level:
Mainland and other Chinese share markets are closed today while Japanese stock markets were able to lift higher on the back of a weak Yen, with the Nikkei 225 index closing 1.2% higher at 27747 points while the USDJPY pair continues to consolidate after its near week long melt up, remaining just below the 130 handle:
Australian stocks have also had a good run with the ASX200 taking back its previous session losses to close 0.8% higher at 7238 points while the Australian dollar is holding on to the mid 72 level after its breakout overnight as short term momentum retraces:
Eurostoxx and Wall Street futures are neutral however as we head into the European with the S&P500 four hourly futures chart showing price still holding on to its overnight gains but unable to exceed the start of week high at the 4200 point level. Short term momentum is still very positive but not yet overbought so a new trend is not underway:
The economic calendar will focus squarely on tonight’s US non-farm payrolls print.