Asian stocks are in flux as traders await tonight’s US unemployment print, having absorbed the overnight cut from the ECB meeting as a weaker USD halts broader risk taking. Local stocks stood out with positive gains while RBASpeak is keeping the Pacific Peso elevated as the Australian dollar pushes above the mid 66 cent level.
Oil prices are still quite depressed yet Brent crude is holding on to its overnight gains just above the $80USD per barrel level while gold is poised to continue its recent breakout above the $2350USD per ounce level, with a wide ranging yet positive session:
Mainland Chinese share markets are flat for their final session of the week with the Shanghai Composite slightly up going into the close while the Hang Seng Index is putting in a poor session, currently down 0.6% to 18360 points. Meanwhile Japanese stock markets are also unchanged with the Nikkei 225 off slightly at 38683 points as the USDJPY pair falls down towards the 155 level:
Australian stocks were the only ones to gain across the region with the ASX200 moving 0.5% higher to 7860 points while the Australian dollar has advanced slightly higher going into tonight’s NFP print with more optimism creeping through:
S&P and Eurostoxx futures are both up marginally as we head into the London session with the S&P500 four hourly chart showing price action holding well above the 5300 point level after its recent breakout as short term momentum remains well into overbought mode:
The economic calendar tonight will focus squarely on the US non farms payroll/jobs print tonight.
some car chases to help get us into the weekend……