Asian stocks are set to open on the back foot after the US indices finished well in the red with the Nasdaq leading the charge and closing 1.81% down. Tech stocks were in the firing line after news hit the wires that China had been infiltrating American companies by implanting tiny chips in servers used by both American industry and government.
Currency traders will once again be paying close attention to the and as we move through the Asian session today, both have struggled to rally against the greenback in the last few sessions and are still sitting at yearly lows and another push from data today, especially in the Aussies case, could see them tumbling even further.
It’s relatively quiet for the first couple of trading sessions today in terms of fundamental data releases with just the Australian Retail Sales numbers set to trouble the scorers in the Asian day. The real focus for investors today of course comes much later on in the form of the latest US jobs numbers, the Non-Farm Payroll number is expected to come in at +185k with Average Hourly Earnings at +0.3% but after the strong ADP data earlier in the week the market is looking for another strong result which could send the dollar to new highs.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.