A very mixed day here in Asia with Japanese markets closed and not much else happening due to the US holiday overnight, although oil prices have already retraced and Chinese shares are off due to domestic concerns via the PBOC of a slowing global economy.
The Shanghai Composite is down over 2% to 2579 points going into the close, unable to finish the week as expected above key support at 2600 and setting up for a rout going into next week’s trading. The Hang Seng Index is off only 0.6% or so to 25865 points, sliding below the previous support level at 26000 points in a disappointing move as the the daily chart was starting to stabilize:
US and Eurostoxx futures are up only slightly with a lack of trading volume or positive sentiment not helping after the US Thanksgiving holiday. The four hourly S&P 500 futures chart still shows a depressed market and ready to revert back down to the recent lows above 2620 points. But be thankful for President Trump, as he says “he’s most thankful for himself” this Thanksgiving:
Japanese stocks had the day off with a national holiday. The USDJPY pair is slowly reverting here with a small move lower to remain below both trailing ATR resistance and the 113 handle going into tonights session:
The ASX200 has done the best again, this time lifting over 0.4% to 5716 points, finally getting back above the 5700 point support area. The Aussie dollar has deflated ever so slightly however to the bottom of the tight moving average band at the mid 72s and is likely to stay there given the lack of volume due to USD trading :
The economic calendar ends the week with some preilimary EZ wide and US service PMI numbers but not much else, with Canadian CPI also in the mix.
Have a good weekend and good luck trading!