by Chris Becker
Yet another mixed session in Asia today with all markets open after some holiday breaks, most stock markets putting on small gains while the ASX200 flittered away a good start to close flat. The USD is again under pressure with the Yen strengthening slightly and the Aussie dollar surprising with a blip higher.
In mainland China the Shanghai Composite had a mixed session before finally closing up 0.14% to 3379 points after yesterdays solid move higher. The Hong Kong based Hang Seng Index took back yesterday’s loss by gaining a little over 0.5% to close at 28482 points, still well above local resistance at the 28000 point level:
S&P futures are relatively steady after last night’s very lacklustre session, were support and resistance are very clear on the four hourly charts:
Japanese stocks are back after an initial holiday to start the week, with the Nikkei up 0.6% to 20823 points after Yen strengthening slightly in the session, but this is more of a catch up session. The USDJPY pair is moving very slowly sideways, hovering just above its four hourly ATR support line at 112.50:
The ASX200 basically followed Chinese bourses, flittering around doing nothing to finally finish with a scratch session closing where it started at 5738 points, still hovering around the 200 day moving average and going nowhere. The Aussie dollar is surprising slightly with a blip above the high moving average on the four hourly chart almost up to the 78 handle. This does not look it has much momentum from here on the lower timeframes and again, the lack of catalysts will go against it for the rest of the session:
The data calendar is quiet again with some UK trade figures and Canadian housing prints but not much else.