A relatively staid session across risk markets here in Asia today following a small blip higher on Wall Street overnight. Only Chinese stocks are in the red with the Shanghai Composite down a handufl of points to be back below 2900 points while the Hang Seng Index has continued its mild retreat, down 10 points or so to 25654 points. Price remains under pressure below the low moving average on the daily chart, and still looks set to return to the terminal low just below 25000 points:
Japanese share markets have moved slightly higher, only just, as the Yen remained steady throughout the session with the Nikkei 225 closing only 0.1% higher to 20479 points. The USDJPY pair is hovering just below the 106 handle after a very quiet session overnight, not threatening to move any higher until we get more catalysts from Trump and China:
The ASX200 was the best in the region, despite some big headline earnings misses – particularly Virgin – gaining over 0.4% to close at 6500 points even. The Australian dollar helped a little by falling through tentative support at the 67.50 level, now ready to tackle the Monday morning gap low as The City opens:
S&P and Eurostoxx futures are flat, indicating a lack of confidence from last night’s mild session with the S&P500 four hourly chart shows price hovering in the midpoint of the moving average bands, with price unable to get back above the 2880 point level:
The economic calendar continues tonight with a series of Treasury auctions, plus the regular DOE Oil inventory updates.