Finally, some steady gains across the region, following the lead from overnight stock markets. The USD reversed course as a series of events including a big jump in projected US unemployment and proposed lockdowns in California. The RBA started their QE program today while the PBOC continues to weaken the Yuan, although offshore trading slumped in the wake of the temporarily weak USD, along gold which is stabilising.
The Shanghai Composite is up nearly 0.5% going into the lunch break at 2714 points while the Hang Seng Index is up nearly 3%, taking back yesterday’s losses, currently at 22318 points:
Japanese share markets were closed for the vernal equinox (WTAF?) and trading in USDJPY was light on until that sharp USD retracement late in the session, bringing the pair back down out of bubble like territory to just above the 110 handle:
The ASX200 is having a solid day, up nearly 2% going into the close at 4875 points while the Aussie dollar is gyrating wildly, currently just below the mid 58 cent level vs USD as it struggles to find a bottom after the recent epic rout:
Eurostoxx and S&P futures are up slightly but the four hourly S&P futures chart still looks extremely weak with not much buying activity here to get excited about:
Have a great weekend – indoors! Oh BTW – I found a spare toilet paper roll in my office bathroom this morning! 3 PLY! Little things make us cheery don’t they? Stay safe.