Risk sentiment is very wobbly today here in Asia with Chinese shares just holding on to scratch sessions while the rest of the region sells off slightly in response to the harsher falls on Wall Street overnight. The USD is mixed against most of the majors although the Australian dollar remains on the ropes with gold flim flamming above and below the $1900USD per ounce level once more as it gets to a critical juncture:
The Shanghai Composite continues to struggle, just bumping into positive territory going into the close at 3316 points while in Hong Kong the Hang Seng Index is wavering, losing 0.25% to 24484 points. Japanese stock markets are falling back as the stall continues on the Nikkei 225, losing almost 0.5% to close at 23567 points as the USDJPY pair finally found some momentum and lifted up through the mid 105 level but not four hourly resistance:
The ASX200 also took back all its start to the week gains to fall nearly 0.8%, finishing at 6184 points, while the Australian dollar remains super depressed having broken below its Monday lows and is heading towards the 70 handle fast looking to make another new weekly low:
Eurostoxx and S&P futures are giving up ground with the former looking to open down as much as 0.5% while the S&P500 four hourly chart is a picture of struggle. Price is hovering below last week’s intrasession low and could crack further tonight if no more hopium stimulus news comes down the pipe:
The economic calendar ramps up with US housing starts numbers, plus some more Fed speeches and a handful of Treasury auctions.