Reading time around 39 seconds
ASEAN morning bytes
General market tone: Risk Off.
Investors will still likely remain defensive on Monday with market players digesting below-consensus US jobs numbers and the OPEC decision to slash production by 1.2 million barrels per day.
International theme: OPEC cuts to support oil prices and inflation but weak US jobs numbers points to dovish Fed
- Risk off sentiment should still dominate the trading scene on Monday with investors digesting last Friday’s jobs numbers from the US and its impact on Fed policy in 2019. OPEC decided to cut production after consulting with Russia, taking out 1.2 million barrels per day from production for the first 6 months of 2019.