Asian stock markets are fighting poorly against a risk off sentiment with the fallout from the failed Brexit deal last night in the UK still reverberating. The Aussie dollar alongside the Kiwi has fallen while Yen remained firm with the latest consumer sentiment data locally hurting the Pacific Peso.
The Shanghai Composite is selling off slightly but still above 3000 points, currently down 0.4% while the Hong Kong Hang Seng Index is falling further, down 0.6% to 28752 points, unable to continues its recent bounce off trailing ATR support on the daily chart. The next level to beat is the former daily highs above 29000 proper, but a new daily high is required soon:
US and Eurostoxx futures are flat as markets remain cautious around Brexit – only 16 days to go! The S&P 500 four hourly chart shows a little hesitation here as it makes another attempt to get back above the important 2800 point level:
Japanese stock markets have turned over again due to a stronger Yen with the Nikkei 225 taking back half of its previous gains to be down 1.2% to just over 21227 points, still unable to break free of its previous breakout point in early February. The USDJPY pair has been unable to get back above its own high moving average on the four hourly chart, pushing back down to the 111 handle as it tries to get back to the ATR support/resistance key level at the mid 111’s:
The ASX200 is the best performer in the region so far, down only 0.3% to around 6152 points with another poor reaction to a local release, this time the consumer sentiment print. Indeed, this is probably behind the reversal in the Australian dollar as it rejects resistance overhead at the 71 handle and gets back to its Monday gap high starting place:
The economic calendar continues tonight with the January durable goods order from the US, plus more Brexit shenanigans!