Asian share markets are putting in poor sessions as the trading week concludes with currency markets showing a swing back towards USD in the wake of last night’s firmer than expected PPI print. Wall Street is looking to open slightly lower with the Australian dollar still at its overnight lows as it passed well below what was solid support at the 66 cent level.
Oil prices are continuing their breaking out after the Ukrainian attack on Russian refineries as Brent crude passes through weekly resistance at the $85USD per barrel level while gold is still taking a pause after its recent gains to hold here just above the $2160USD per ounce level:
Mainland and offshore Chinese share markets are again diverging in risk with the Shanghai Composite bouncing back in late afternoon trade, up nearly 0.2% while the Hang Seng has continued its slump to fall more than 2% lower, closing at 16565 points. Japanese stock markets are also on the down with the Nikkei 225 closing nearly 0.3% lower at 38675 points while the USDJPY pair is trying to breakout again after falling sharply last week, now climbing above the 148 level:
Australian stocks were unable to advance with the ASX200 slumping more than 0.5% lower to close at 7670 points while the Australian dollar is holding at its overnight lows well below the 66 cent level:
S&P and Eurostoxx futures are holding on to their overnight losses as we go into the London session with the S&P500 four hourly chart showing price action just sitting above the 5200 point level with short term support very closeby:
The economic calendar ends the trading week with US industrial production and consumer sentiment prints for February.