Futures in Australia and Japan were in the green, whereas Hong Kong was modestly lower on Monday morning as traders weighed the volatile slump in cryptocurrencies and inflation outlook. The US share markets were mixed on Friday with the Dow Jones lifted by 0.4%, S&P 500 fell by 0.1% and Nasdaq climbed by 0.3%.
Bitcoin plunged over the weekend to lows near $31,000 before the price swings back to near $35,6000 on Monday morning. The elevated market volatility is likely to persist in cryptocurrency trading in the week ahead.
US yields were a little changed on Friday. US 10-year yields were flat near 1.63%. US 2-year yields rose by 1 point to near 0.157%.
Foreign exchange trading on Friday saw the greenback stronger against major currencies. According to ZERO Markets’ MetaTrader 4 platform, EUR/USD fell from highs near 1.2234 to lows around $1.2160. AUD/USD fell from highs near $0.778 to lows around $0.772.
The stalled commodity boom is in focus as China tries to temper prices. Iron ore prices fell 5.1% to $200.1 a tonne. Precious metals trading saw gold fell slightly to near $US 1,880 an ounce.
Global oil prices lifted by more than 2% on Friday upon the likelihood of supply disruption caused by the severe weather condition in the Gulf of Mexico. Brent crude lifted 2% to $US 66.44 a barrel.
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