A somewhat mixed day for Asian stock markets without a clear lead from Wall Street overnight although this might clear up as the Trump regime turns the lights back on in the US government. Today’s local unemployment print saw the Australian dollar soar higher on the strong result with local stocks pushed lower as the case for a hold in interest rates well into 2026 firms.
Oil markets are pulling back following the OPEC production revisions with Brent crude holding just below the $63USD per barrel level while gold is pushing above the $4200USD per ounce level as it wants to return to the October highs:
Mainland Chinese share markets are lifting going into the close with the Shanghai Composite pushing above the 4000 point barrier while the Hang Seng Index is actually pulling back slightly, currently down 0.3% to 26860 points. Japanese stock markets are in a slight lift higher as the Nikkei 225 puts on 0.3% to stay above the 51000 point level with the USDPY pair has almost breached the 155 handle to extend its big weekend gap up move:
Australian stocks are pulling back again due to the strong employment numbers and their impact on future rate rises with the ASX200 down around 0.5% at 8753 points while the Australian dollar has pushed well above the 65 cent level against USD:
S&P and Eurostoxx futures are steadying but moving higher going into the London session with the S&P500 four hourly chart showing the market wanting to get back to the 6900 point level:
The economic calendar includes British and European industrial production numbers followed by the very important US CPI print for October.