Macro Afternoon

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by Chris Becker

Stocks are generally higher in Asia today even after a weak lead from overnight markets, with the US traders set to return tonight after the Labor Day weekend. The exception is the ASX200, which fell on a hold and stay bold focus from the RBA this afternoon, which sent the Australian dollar even higher. The Nikkei lifted 0.3% as the Yen stayed stable around the 103 handle on the USDJPY pair, still building on its previous breakout and reaching a three month high.

Chinese stocks did better, with both offshore and continental stocks up around 0.4% or so, the Shanghai Composite at 3084 points going into the close. Eurostoxx futures are up 0.4% going into the London session.

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