Asian stock markets have begun the trading week in a mixed fashion, with Japanese markets closed as the risk complex takes a deep breath after Friday’s falls on Wall Street. Gold is still holding on, seemingly making another short term symmetrical triangle pattern on the four hourly chart, now just above the $1950USD per ounce level:
In mainland China, the Shanghai Composite is selling off into the close, down nearly 0.7% to 3314 points while in Hong Kong the Hang Seng Index is falling even faster, down 1.6% to 24053 points. Japanese stock markets are closed for yet another holiday while the Yen buying continues, as the USDJPY pair falls towards the 104 handle, continuing the breakdown from last week:
The ASX200 is selling off as well, having started the session flat but sold off after lunch to finish 0.7% lower to 5822 points, down nearly 5% for the month while the Australian dollar is holding on just above the 73 handle and looking firm here going into tonight’s session:
Eurostoxx and S&P futures are down nearly 1% with the S&P500 four hourly chart about to break through its bottom from last week, as the 3300 point psychological level looms:
The economic calendar starts the week slowly with the only event of note to watch out for is a speech by ECB President Lagarde.
PS: 43 days til the US Presidential election. Thank Dog below…