As Japan was on holidays Thursday it was today that the Nikkei cash market caught up with yesterdays futures decline. With the market still nervous surrounding the FBI’s investigations ahead of the US elections, coupled with todays release of the Non-Farms Payrolls prices were hit closing down 1.4% on the day way before numbers were released. This move is probably catching the Yen’s rally as we trade mid 102’s. Both Shanghai and HSI saw their move yesterday and so was relatively calm closing almost unchanged at down 0.1%. Oil traded heavy throughout the Asian session also closing below the psychological $45 level. Gold saw the safe-haven bid closing a little over the $1300 level. HSI futures lost more ground late in the US session and were last seen -0.75% influenced heavily by European weakness. Both the Nikkei and China 300 futures were little changed.
This post was published at Armstrong Economics on Nov 4, 2016.