A mixed end to the trading week here in Asia with again most of the action in bond markets as the Aussie 10 year yield up another 5 points as US Treasuries head to a yearly high. Most stock markets finished flat outside of China, while commodities dropped, particularly oil markers as the Aussie dollar crept and stayed above the 80 cent level against USD.
In mainland China the Shanghai Composite has continued its advance above resistance at 3400 points, now up 0.4% to 3490 points. The Hang Seng Index is up slightly, taking back yesterday’s losses to be at 31958 points as this hot trend pauses:
S&P futures are retreating slightly as markets start to price in the risk of the government shutdown bill not passing in full: (don’t put it passed the GOP, stupid is as stupid does)
Japanese stocks are mixed with the broader Topix up while the Nikkei 225 is barely moving, currently at 23784 points even as Yen continued to weaken against USD during the session. The USDJPY pair has come back from its modest bounce, unable to climb above the 111 handle as momentum remains negative on the four hourly and daily charts:
The ASX200 continues to be unable to make any headway and closes the week out with a scratch result just above key psychological support at 6000 points.
The Aussie dollar is trying to stay above the 80 cent level vs USD, as the trend from the December lows continues like a S&P500 freighttrain:
The economic calendar ends the week with only one really important measure to watch and that’s the University of Michigan consumer sentiment print for January.