Risk sentiment is generally solid today here in Asia with mainland Chinese shares the only fly in the ointment as Yuan contineus to advance. The USD is mixed against the majors with Euro spiking, Yen firming and the Australian dollar trying to clawback it start of week gains. This is good news for gold bugs as the shiny metal makes a small breakout, now at the $1916USD per ounce level as daily momentum accelerates:
The Shanghai Composite is back on struggle street, down over 0.5% going into the close, now at 3319 points while in Hong Kong the Hang Seng Index is up firmly, closing 0.7% higher at 24751 points. Japanese stock markets are also sturdy with the Nikkei 225 closing almost 0.5% higher at 23664 points as the USDJPY pair flopped after its failed breakout last night, now threatening the 105 handle proper:
The ASX200 is inching along, barely up 0.1% to close at 6191 points, while the Australian dollar is struggling to come back after its shaky start to the week, currently at 70.70 going into the London open, but still looking weak in the medium term:
Eurostoxx and S&P futures are slowly rising but there’s concern over the huge breakout in COVID on the continent that could spillover tonight. The S&P500 four hourly chart is still showing a lot of hesitation here as price hovers just above the current intraweek and two weekly low at the 3420 point level: a
The economic calendar goes back to wonky central banker speech mode tonight with not much else going on. Apart from that election thingy.