A solid session to finish the trading week on Asian stock markets today, with a more positive mood going into tonight’s US jobs report, which will provide a clearer understanding of the Fed’s intentions as 2023 gets underway. The USD remains firm against the major currency pairs with the Australian dollar remaining below the 68 handle. Oil prices are trying to recover after falling sharply mid week with Brent crude just above the $79USD per barrel level while gold is holding on to its great start to the year after a minor retracement overnight, remaining above the $1830USD per ounce level for a new monthly high:
Mainland Chinese share markets are lifting higher going into the close with the Shanghai Composite up more than 0.8% to remain above the 3100 point level, currently at 3158 points while the Hang Seng Index has eased off its recent strong bounce, up just 0.3% to remain above the 21000 point level. Japanese stock markets are trying to regain lost confidence with the Nikkei 225 eventually finishing 0.6% higher at 25986 points while the USDJPY pair has consolidated its breakout further above the 134 handle after its midweek breakout:
Australian stocks have also finished the week in a better fashion with the ASX200 eventually lifting some 0.6% to remain above the 7000 point level at 7109 points. The Australian dollar is tryin to climb off the floor after its mid week reversal, but has been unable to get back above the 68 level while just remaining on its uptrend from Christmas:
Eurostoxx and US futures are slowly drifting higher, the latter still wanting to get off the floor as we head into the London session with the S&P500 four hourly chart showing price action still depressed below the 3900 points level. The upper downtrend line is the one to watch tonight:
The economic calendar is all about the non farm payrolls aka NFP aka December US jobs report.