Macro Afternoon

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Asian stocks generally rose across the region with most activity in currency markets as the Chinese coal closure and the latest domestic unemployment print pushed the Australian dollar all over the place.

The Shanghai Composite fell in the latter half of the session, falling 0.3% to close at 2751 points as its bear market rally pauses. The Hong Kong Hang Seng Index has also continued its bounce back with another solid move higher, closing up 0.6% to 28596 points. Another new daily high after clustering for awhile around the 28500 resistance level, so all the stops should be out for a continuation rally:

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US and Eurostoxx futures are up solidly in line with other risk assets with the S&P 500 looking to build and break above the 2800 point level the target this week:

Japanese stock markets were relatively bullish, with the Nikkei 225 closing up 0.2% to 21474 points, remaining above key resistance that had been broken briefly last week. The USDJPY pair has retreated as expected due to the congestion recently below the 111 handle and a series of see-saw sessions overnight. The next target here is last week’s highs and above trailing ATR resistance but momentum is waning at least on the four hourly chart:

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The ASX200 was the best in the region, rising nearly 0.7% and closing at 6139 points, retracing back below the key 6100 point resistance level. The Australian dollar was sold off swiftly despite the strong unemployment print after the Chinese coal announcement, swiftly moving below the 71 handle and almost making a new weekly low:

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The economic calendar continues tonight with a slew of preliminary PMI data across Europe then the December US durable goods orders and the latest DOE oil inventories report.