by Chris Becker
The mood is mixed again here in Asia despite a small surge overnight on Wall Street as the Federal Reserve re-engaged its dovish narrative. Gold has been unable to crack its overnight high, slipping to the $1958USD per ounce level with silver looking even weaker below $24USD per ounce:
In mainland China, the Shanghai Composite is struggling to gain traction, but still positive by being up 0.2% or so going into the close at 3303 points, while in Hong Kong the Hang Seng Index is doing a lot better, up 0.75% to 25065 points. Japanese stocks continue to slip, with the Nikkei 225 down 0.2% to 22350 points. The USDJPY pair is finally finding some love, bouncing off the 105 handle after decelerating its falls recently:
The ASX200 is the best market in the region, up over 0.6% and firmly bouncing off the 6000 point level to finish 0.6% higher at 6045 points, absorbing the downtrend in dwelling approvals. The Australian dollar however has not done so with the Pacific Peso breaking the uptrend from its Monday morning bounce, falling below the low moving average on the four hourly chart:
Eurostoxx and S&P futures are somewhat soft, only up a few points with the latter holding on to last night’s gains, bouncing off key support at the 3200 point level:
