by Chris Becker
Stock markets are again mixed across Asia, with a failure to make any advances despite Wall Street lifting overnight, although Australian stocks were cheered on as earnings season made a few surprises. Gold is following through on its overnight breakout to almost breach the $2000USD per ounce level again, while silver is similarly poised just below the $28 level as the precious metal lockstep continues:
In mainland China, the Shanghai Composite was up before the lunch break but is fading going into the close, up only 0.2% to 3444 points while in Hong Kong the Hang Seng Index is similarly unchanged, not moving and currently at 25330 points. Japanese stock markets are slipping as well as lack of confidence and a higher Yen bites, with the Nikkei 225 closing 0.2% lower at 23051 points, with the USDJPY pair in near freefall from its Monday morning gap open and the breakdown below its July support level at 106.70 as momentum gets into oversold status:
The ASX200 is the odd one out, gaining nearly 0.8% to 6123 points despite a 2% fall from Westpac on its shocking 3Q report. The Australian dollar continues to advance past the 72 handle, now ready to tackle the previous weekly highs at the 72.40 level tonight on a wave of weak USD:
Eurostoxx futures are down 0.4% while S&P futures are again treading water as USD weakens, with the S&P500 four hourly chart still showing significant resistance building at the pre-pandemic highs at the 3380 point level:
