by Chris Becker
Asian share markets are falling sharply across the region today in response to the mild retreat on Wall Street overnight in the wake of the latest FOMC minutes. Gold was unable to claw back any of its losses from last night as it fell back below the key $2000USD per ounce level, with a very minor blip back towards the $1950 level while silver is holding on a little better above the $27 level:
In mainland China, the Shanghai Composite continued its fall from yesterday, falling over 1% to 3369 points while in Hong Kong the Hang Seng Index is off even more, currently down 2% at 24670 points. Japanese stock markets are joining in despite a lower Yen, with the Nikkei 225 closing 1% lower at 22875 points, with the USDJPY pair maintaining itself just above the 106 handle after its bounceback last night:
The ASX200 was the best off, but only relatively as it took back all of yesterday’s gain to fall 0.8% to 6120 points while the Australian dollar continues to slip below its session lows from last night, ready to breakdown again:
Eurostoxx futures are down over 1.3% while S&P futures are down 0.6%, with the S&P500 four hourly chart now breaking below four hourly support at the 3360 point level and setting up for what should be a normal correction – but this ain’t no normal market:
