The bounce continues as stock markets across Asia lift again following last night’s rally on Wall Street, with the currency market relatively quiet although some USD weakness has crept in late in the session.
Chinese stocks have switched sentiment to the worst performing, with the Shanghai Composite falling going into the close, currently down 0.2% at 2875 points while the Hang Seng Index is barely up 0.2% to be at 26339 points. Following yesterday’s great result its no surprise there’s a bit of a hiccup here as price tries to break out above the previous bounce point:
Japanese share markets are doing really well despite a lift in Yen late in the session with the Nikkei 225 lifting over 0.5% to finish at 20674 points. The USDJPY pair has been unable to break Monday’s session highs and has retraced below the 106.50 level, tentatively breaking the uptrend from mid last week:
The ASX200 is having a great week so far, up another 1% to close at 6539 points, while the Australian dollar has bounced on the release of the RBA Minutes, currently matching Friday’s highs at just a smidge under the 68 handle:
S&P and Eurostoxx futures were firming but have now turned flat before the European open, up only 0.1% or so indicating potential volatility ahead. The S&P500 four hourly chart shows price heading back up to significant resistance at the 2930 point level but the question is can this be sustained:
The economic calendar is really quiet tonight with only tertiary level releases and not much else on the radar.