Overnight

Friday slipped into Monday. At least that's how Japanese investors apparently saw it in early trading Monday as the Nikkei 225 was off nearly 2% at 1.8% before stemming some of those loses. The Australian ASX 200 was up slightly, 0.60%, and the Korean Kospi traded flat and the Hang Send was down 0.22%. The Shanghai Composite was also 0.08.

Friday's poor U.S. jobs report, creating only 38,000 jobs in May when nearly six times that many were expected, sent the dollar lower and the yen higher. For many the sad numbers put on hold any chance for a June hike in interest rates and so now the focus switches to the Fed's July meeting after which the next meeting is scheduled for September just before the November election. Some believe that the Fed won't raise rates that close to election time because of its political overtones.

The dollar index, a benchmark against a basket of six major currencies edged up sightly to 94.112.DX its recent low of 93.855., last seen May 12. The MSCI's broadest  index of Asian-Pacific shares outside Japan was up 0.45%. Much of the investment community is awaiting Fed Chair  Janet Yellen's speech that will open the coming week in the U.S.