Asian share markets were quite mixed with local stocks regaining some of their losses on interest rate speculation that the Fed is likely going to pull a put if tomorrow night’s NFP comes in bad as expected. Meanwhile bond markets are trying to recover with many long dated yields across the UK, Japan and USA are approaching or making new high as the USD also recovers somewhat although it has been patchy across the majors. The Australian dollar has pulled back slightly but still remains above the 65 cent level.
Oil markets are failing to get out of their recent depressed mood with Brent crude pushed back down to the $67USD per barrel level while gold had a little breather after its decisive breakout above the $3500USD per ounce level:
Mainland Chinese share markets are selling off again going into the close with the Shanghai Composite down more than 1% to cross below 3800 points while the Hang Seng Index is also off more than 1% to slip below the 25000 point level. Japanese stock markets are doing better with the Nikkei 225 closing 1.5% higher at 42573 points with the USDPY pair holding just above the 148 level to recover somewhat from the overnight slump:
Australian stocks bounced back from their recent selloff with the ASX200 closing exactly 1% higher to 8826 points while the Australian dollar has slid back towards the 65 handle as USD strengthens slightly:
S&P and Eurostoxx futures are rising slightly going into the London session with the S&P500 four hourly chart showing the market unable to get back to the 6500 point level with momentum returning to neutral levels as traders await yet another put from the Fed to get back to the August highs:
The economic calendar includes the latest Euro-wide retail sales print, followed by a hint of what the NFP could bring (depending on Sharpie attack by Trump lackeys) with the private ADP data and initial jobless claims.