Everything is awesome as the Tories look set to wipe out any chance of the UK remaining both in the EU and in, well union as risk takers take the cue that the US/China trade deal is done as well, sending the USD down against almost everything but gold. Stock markets have responded to the big breakouts in overseas markets with a sea of green across the board to finish the week. Here comes Santa Claus! (although he’s the same rotundness, he looks more orange than white….)
The Shanghai Composite is up over 1.2% going into the close to significantly build above the 2900 point level , now at 2951 points, while the Hang Seng Index continues its own breakout, now up over 2% to 27551 points:
Japanese share markets are no longer wavering, taking the cue from a mammoth selloff in Yen to shoot higher, the Nikkei 225 about to close some 2% higher at 23979 points. The USDJPY pair is up over 100 pips here, almost taking it back to the previous weekly high and capping off a very sideways weekly session:
The ASX200 was the comparative loser, gaining only 0.4% to build well above key support at the 6700 point level and looking to close near the 6750 point level. This is due to the rise in Aussie dollar which continued from it surge overnight, now finally breaching the 69 handle, and setting up a new trend going into the Christmas trading period:
Both S&P and Eurostoxx futures are up significantly going into the European open with the S&P500 four hourly chart showing how last nights repudiation of strong resistance at the 3150 point level is going to built upon further tonight – damn the torpedoes and here we go:
The economic calendar finishes the week with US advanced retail sales and a private oil rig count. Have a good weekend!