Asian share markets are higher across the board as traders start to anticipate tonight’s US jobs print with continued speculation that the Fed is likely going to pull a put regardless of tonight’s NFP result. Meanwhile bond markets are trying to recover with many long dated yields across the UK, Japan and USA backing off from their recent new highs as the USD pulls back slightly but remains in a solid position ahead of the unemployment print. The Australian dollar has lifted slightly to get back above the 65 cent level.
Oil markets are failing to get out of their recent depressed mood with Brent crude pushed below 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 lifting strongly going into the close with the Shanghai Composite up more than 1% to get back above the 3800 point level while the Hang Seng Index is also making similar gains, up more than 1% to get back above 25000 points. Japanese stock markets are also doing well with the Nikkei 225 closing nearly 0.9% higher at 42968 points with the USDPY pair holding just above the 148 level but basically unchanged:
Australian stocks bounced back from their recent selloff with the ASX200 closing 0.5% higher to 8871 points while the Australian dollar has lifted slightly back towards the mid 65 handle against USD:
S&P and Eurostoxx futures are rising going into the London session with the S&P500 four hourly chart showing the market wanting to crack through the 6500 point level with momentum returning to overbought levels as traders have already dialed in the certainty of yet another put from the Fed:
The economic calendar will focus squarely on the latest NFP although the reading could be anything as it depends how many “revisions” are made via Sharpie by Trump lackeys.