The rumblings of fear are being heard across equity markets here in Asia with more safe haven buying in gold and bonds pushing stocks down across the region. Offshore Yuan is trading another handle higher at over 7.04 while the Aussie dollar has been pummeled to an 11 year low and briefly touched the 65 level against USD.
The Shanghai Composite is the odd one out, currently up 0.5% to 3044 points while the Hang Seng Index is down 0.7% to 27408 points as it struggles to hold on to short term support:
Japanese share markets are not lifting in line with the selloff in Yen, with the Nikkei 225 down to 23468 points. The USDJPY pair is steadying right on the 112 handle, capping off a big week, but looks extremely overextended here:
The ASX200 is currently 0.25% lower at 7142 points, still holding on above the 7100 barrier. The Australian dollar continues its big falls, now dicing with the 66 handle as it produces an eleven year low :
Eurostoxx and S&P futures are falling alongside the dour mood here in Asia, with the four hourly chart of the S&P500 showing price testing ATR support again at the 3360 point level that must hold or the bearish rising wedge pattern will be fulfilled:
The economic calendar finsihes the week with a slew of preliminary PMI data across Europe, then the actual European CPI print for Janaury, then another lot of PMI data from the ‘States. Have a good weekend!