See the latest Australian dollar analysis here:
While the usual safe havens are weaker, Asian share markets are still quite mixed with Chinese markets and their satellites falling back, while the Japanese bourses seemed decoupled and continue higher. Gold has come off again, falling nearly $10 USD to be well below $1500USD per ounce, while the upcoming OPEC meeting is setting oil prices a little higher on speculation of supply cuts.
The Shanghai Composite was taking back its previous gains, but has recovered somewhat post lunch break to put in a scratch session, still above the 3000 point barrier at 3022 while the Hang Seng Index is doing the same, still at 26672 points remaining somewhat overbought:
Japanese share markets are the only ones moving forward with the Nikkei 225 closing 0.4% higher to 21392 points making yet another new daily high. The USDJPY pair accelerated up to the mid 107s but has stalled in the afternoon session and is coming back as expected before the City open:
The ASX200 is the worst in the region, falling a decent 0.5% but still maintaining a solid run above the 6600 point level, closing at 6617 points. This was despite a lower Australian dollar which came back slightly on the NAB business confidence survey, currently hovering at the mid 68s:
S&P and Eurostoxx futures are slowly moving lower with the S&P500 four hourly chart still unable to get enough momentum to get back over the 3000 point level again:
The economic calendar is still relatively quiet tonight with some British unemployment data but not much else – maybe a certain frumpy haired PM might be out of a job soon?