Stocks are flatlining alongside currency markets across the region – if you look outside local risk markets – as the Brexit and US induced earnings swings from overnight dissipate into nearly nothing in terms of risk taking. Gold is steady above $1500USD per ounce, but not advancing while the Yuan remains in a holding pattern, with the only undollar asset to keep an eye on still the Swiss Franc, but not much else.
The Shanghai Composite is down barely one point, unable to get back on track and hovering at 2939 points, remaining well below 3000 points as the Hang Seng Index is slipping late in the session, currently down 0.4% looking to finish the week in a firm, but unexciting fashion:
Japanese share markets are barely moving with the Nikkei 225 currently up 11 points or 0.1% to 22759 points as Yen barely moved throughout the session, as the USDJPY pair maintains its mid-week strength but without any advance, leaving it open to a stall here:
The ASX200 gapped higher at the open in line with futures and is the odd one out, up over 0.6% going into the close and well above 6700 points for a solid finish to the week. The Aussie dollar is trying to find buying support with a series of very tight four hourly sessions, indicative of deceleration but not yet a stop as it continues below previous ATR support at the 68.20 level and ready to breakdown:
Both S&P and Eurostoxx futures are flat as well with the latter up only a few points. The S&P500 four hourly chart is still showing a desire to return to the previous highs above the psychologically important 3000 point barrier, with support at 2980 points remaining a good uncle point from here:
The economic calendar finishes the week with some sovereign debt ratings from Moodys/S&P plus the closely watched German IFO survey. Have a good weekend!