A mixed start to the week here in Asia as many stock markets and other trading venues are closed for holidays, with risk focused more on the Brexit brouhaha.
The Shanghai Composite closed today for a holiday. The Hang Seng Index has gapped down significatnly, off nearly 2% to 27473 points, reversing most of last week’s build up out of its previous funk, closing back below the high moving average on the daily chart. This looks like a rejection of ATR resistance above and a continuation of the downtrend:
S&P futures have retraced already in the wake of the latest Chinese Trump tit-for-tat tariffs, with the Eurostoxx also indicating a poor start tonight:
The Nikkei 225 was closed today while trading in the USDJPY pair was muted at best, keeping at the mid 112’s with now real decisive price action evident yet – hold the course:
The ASX200 is again the laggard, slipping 0.1% even as the Aussie dollar fell a little, with no direction from other markets, it will be an interesting open tomorrow. The Aussie dollar has fallen down even further from its Friday night retracement, currently at the mid 72s and looking soft here as it finds some support above the 72 handle proper:
The economic calendar starts the week with a quiet schedule tonight, but watch out for a speech by Super Mario in Brussels to be Euro-sensitive.