Caution reigns across Asia with the somewhat positive mood on Wall Street unable to be translated into any meaningful gains on stock markets, with bonds moving higher and USD firming.
The Shanghai Composite was the standout however, coming back from yesterday’s slump to finish nearly 0.3% higher at 2985 points, still below the 3000 point barrier while the Hang Seng Index fell back, falling 0.2% to 26754 points, also remaining below weak support/former resistance at 27000 points:
Japanese share markets had minor losses despite a weaker Yen as trade concerns mounted, with the Nikkei 225 closing 0.2% lower at 21960 points. The USDJPY pair advanced only slightly as it remains above the 108 handle, and almost looks set to breakout to make a new weekly high soon:
The ASX200 is under pressure, falling some 0.2% despite a positive start, finishing at 6681 points. The Australian dollar was looking to make a comeback following last nights bounce but insteadhas moved lower in the afternoon session to be at the mid 68s going into the European session without much support:
S&P and Eurostoxx futures are down slightly as European markets open with the S&P500 four hourly chart showing a steady, if weak resolve around the 3000 point barrier, as traders continue to weigh up the outcome of the Saudi oil attacks and tonights FOMC meeting:
The economic calendar is packed tonight with UK CPI, EZ final CPI and then the FOMC meeting in the early hours of the morning.