Most Asian stock markets remained where they started trading today as the response to the signing of the US/China trade deal was not as bullish as expected.
Chinese stocks continue to struggle with a higher Yuan with the Shanghai Composite falling nearly 0.5% to remain well below the 3100 points level, closing at 3074 points, while the Hang Seng Index has put in a scratch session after being up mid-session, closing at 28776 points. The daily chart shows some support as price remains elevated with the high moving average level still being respected with solid momentum:
Japanese share markets made no headway with the Nikkei 225 stuck again, gaining only a handful of points to close at 23933 points. The USDJPY pair continues to be unable to make any gains and alhtough still above its 2019 highs it remains stuck here at the 110 handle:
The ASX200 was again the only market to really advance during today’s session, soaring to new record highs above the 7000 point level by lifting 0.7% to 7041 points. A steady Aussie dollar has helped here too where it continues to hover around the 69 handle as traders await next month’s RBA meeting:
Both S&P and Eurostoxx futures are suggesting another breakout to new highs, with the four hourly chart of the S&P500 no long showing hesitation here just below the recent highs, but I’m still wary of European bourses:
The economic calendar has the very important advanced retail sales US print for December plus initial jobless claims to absorb later tonight.