Stocks are higher here in Asia despite the mixed mood from overnight, with Chinese equities leading the way. Locally a fall in the unemployment rate sent the Aussie dollar higher while other major currency pairs are gaining ground against USD in the wake of the new Brexit deal.
The Shanghai Composite has closed 1.3% higher to 2667 points, coming back strongly after recently retracing and still hanging on above key support at the 2600 level. The Hang Seng Index is up similarly, 1.3% higher to 25983 points, with the daily chart again showing its just shy of getting back above the previous support level at 26000 points:
US and Eurostoxx futures are up slightly with the four hourly S&P 500 futures chart still showing a potential breakdown with a bearish head and shoulders pattern almost completed here with a neckline below the 2700 point level:
Japanese stocks closed slightly lower as Yen gained in strength with Japanese bank stocks sending the Nikkei 225 down 0.2% to 21803 points. The USDJPY pair is being pushed down firmly here on a much stronger Yen, currently just above trailing ATR support on the four hourly chart at 113.40 but ready to go lower:
The ASX200 basically tread water today on the back of the unemployment print, gaining one or two points to remain below the 5800 point support level, closing at 5736 points. The Aussie dollar has shot higher on the unemployment print, not quite back up to last week’s high at the 73 handle but it could have some legs here tonight:
The economic calendar has three releases to take note of, all American centric with US retail sales for October the most important, followed by weekly initial jobless claims then the latest DOE oil inventory numbers.