Asian stocks are lower across the board without a lead from Wall Street that was closed overnight and in response to some PBOC bond shenanigans while currency markets were somewhat subdued as we all await for tonight’s NFP print. The Australian dollar remained below the 62 cent level as interest rate cut predictions continue to be brought forward.
Oil futures are pushing higher with Brent crude lifting above the $77USD per barrel level while gold is now trending stronger after its recent comeback above local resistance at the $2630USD per ounce level:
Mainland Chinese share markets have again failed to make any positive moods with the Shanghai Composite down more than 0.8% to cross below the 3200 point level while the Hang Seng Index is also in retreat, falling 0.7% to 19096 points. Japanese stock markets are off the worst with the Nikkei 225 losing nearly 0.9% to close well below the 40000 point level while the USDPY pair has continued its short term breakout as it lifts above the 158 level:
Australian stocks were the best performing in the region but still fell with the ASX200 closing more than 0.4% lower at 8294 points while the Australian dollar has remained below the 62 handle:
S&P and Eurostoxx futures are flat as we head into the London session with the S&P500 four hourly chart showing momentum remaining in negative territory and still not looking healthy as it fails to tackle short term resistance levels around the 6000 point zone:
The economic calendar will be dominated tonight by the latest US non farm payrolls aka unemployment print.