Market Movers: Depressed Asian Stock Index Data Waiting for NFP

Statement of the dovish European Central Bank which opens opportunities for additional quantitative easing (QE) has encouraged the weakening Euro. On the other hand US economic data overnight is quite impressive that support the strengthening of the US dollar.

Today the market's attention will be sucked into the US employment data, namely Non-Farm Payrolls (NFP), Unemployment Rate and Average Hourly Earnings in August. Overall, the market expects the data is still pretty good, almost the same as the previous month's data.

This morning looks market reacted to wait and see to get out of riskier assets. Asian stock indexes began moving down periodically. The exchange rate strengthened against the yen looks like some of the exchange rate of US dollar, euro, pound, and Australian dollar.

US employment data which is good, which exceeds the forecast could push the strengthening of the US dollar due to expectations of rising US interest rates rose. On the other hand, these data can provide mixed results (mix) to a stock index. Good labor conditions that could indicate improved economic conditions that could boost the stock index. However, when associated with a tightening of US monetary policy opportunities, stock index could be weighed down.