Asian share markets are generally higher in the final session of the week however are hedging what will come later tonight with the expected US Supreme Court ruling on the Trump regime’s tariffs and the post-government shutdown employment print – aka the NFP. News that Trump wants to make his own QE by purchasing $200 billion in mortgage backed securities by presidential fiat did not upset the USD however, although Yen remains on a weakening trend while Euro and Pound Sterling tread water. The Iranian situation is keeping a floor under oil prices for now while the Australian dollar is just below the 67 cent level.
Oil markets remain unstable as Brent crude holds at the $62USD per barrel level while gold has eased off from its start of year rally to drop back to the $4460USD per ounce level:
Mainland Chinese share markets are doing better in the afternoon session with the Shanghai Composite up more than 0.5% to 4103 points while the Hang Seng Index has lifted only slightly to stay above the 26000 point level. Japanese stock markets are seeing a bounceback with the Nikkei 225 closing 1.5% higher at 51857 points with the USDPY pair making its recent rally stick with a new high above the 157 level:
Australian stocks were the standout again but for the wrong reasons as the ASX200 went nowhere, closing at 8717 points while the Australian dollar is just holding ground below the 67 cent level:
S&P and Eurostoxx futures are moving lower after a couple of wobbly mid week sessions with the S&P500 four hourly chart showing support coming under threat at the 6900 point level as the 7000 round figure seems a bridge too far:
The economic calendar will squarely focus on the December non farm payrolls data tonight from the US.