by Chris Becker
Asian share markets have been unable to translate the wild ride on Wall Street into anything tangible, instead following the flat European lead. Gold is weakening sharply despite a relatively mixed USD trend, as it breaks below the $1930USD per ounce level at terminal support from last weeks retracement:
In mainland China, the Shanghai Composite is falling sharply going into the close, down 1.2% to 3324 points while in Hong Kong the Hang Seng Index is stumbling along with a scratch session, unchanged at 25464 points. Japanese stock markets are equally unmoved, with the Nikkei 225 treading water to close at 23290 points, with the USDJPY pair holding fast here just above the 106 handle:
The ASX200 fell sharply alongside Chinese stocks, falling over 0.7% to 6116 points as earning season rolls on while the Australian dollar remains contained here below the 72 handle, but has matched its previous daily high:
Eurostoxx futures are barely up, looking to mimic last night’s anemic effort while S&P futures are floating along with no downside possible at all! The S&P500 four hourly chart looks as high as Don Jr at Nuremberg last night, so watch for a break above the 3450 point level:
