As the trading week starts again, risk sentiment has finally found some support outside China, which had to absorb the latest declining GDP print. The USD is mixed against most of the majors with gold getting back above the $1900USD per ounce level as daily support very slowly builds:
The Shanghai Composite however continues to struggle, down nearly 0.8% going into the close at 3309 points while in Hong Kong the Hang Seng Index is rebounding, up 0.6% to 24534 points. Japanese stock markets are moving in line with US futures with the Nikkei 225 gaining over 1% to close at 23671 points as Yen buying abated somewhat, the USDJPY pair lifting but still stuck below the mid 105 level:
The ASX200 also took back its previous losses to gain nearly 0.9%, finishing at 6229 points, while the Australian dollar remains depressed and just below the 71 handle, after recently making a new weekly low:
Eurostoxx and S&P futures are firming strongly, up 0.3% and 0.5% respectively going into the European open although the S&P500 four hourly chart is still struggling to get back above previous short term support at the 3480 point level after being rebuffed at short term resistance at 3500 points:
The economic calendar starts the week with a series of closely watched ECB and Fed policy wonk speeches tonight and not much else.