The new financial year is seeing some calm return to Asian share markets with Japanese bourses pulling back amid tariff dramas with the Trump regime, while Yen is firming on solid manufacturing data from both China and Japan as we await the US ISM print later tonight.
Oil markets continue to steady after their recent correction with Brent crude trading just above the $66USD per barrel level while gold is trying to make a comeback as it gains only slightly above the $3300USD per ounce level:
Mainland Chinese share markets are up slightly with the Shanghai Composite remaining above the 3400 point level while markets are closed in Hong Kong today. Meanwhile Japanese stock markets are seeing some profit taking with the Nikkei 225 down more than 1% but still staying above the 40000 point barrier with the USDPY pair is seeing a small blip higher but is still well below the 144 level:
Australian stocks are the odd ones out as they continue to lift higher albeit with only a modest gain with the ASX200 closing 0.1% higher at 8551 points while the Australian dollar was able to hold on to its overnight gains at the mid 65 level as markets await the NFP print amid a much weaker USD:
S&P and Eurostoxx futures are up mildly going into the London session with the S&P500 daily chart showing the market clearly overextended but still turning any news into positive returns after breaking right through the 6200 point level:
The economic calendar gets German unemployment data tonight, followed by the latest US ISM manufacturing survey with a slew of speeches from central bankers at the ECB forum.