Kayaking in the Cook Islands, 2019: Photo by H. Becker
Stock markets are pushing forward with gusto across Asia in the wake of the “conceding non-concession” from ex-President Trump overnight, with USD giving back some of its gains against the majors overnight, although gold is flopping to new monthly lows, now at the $1824USD per ounce level:
The Shanghai Composite is meandering nowhere going into the afternoons session, down about 0.1% to 3409 points while in Hong Kong the Hang Seng Index its still a case of just treading water with a second scratch session in a row, stuck at 26498 points. Japanese stock markets reopened with a flourish, the Nikkei 225 up over 2.5% to 26189 points while the USDJPY pair has held on to its surge from overnight but is stalling out here at the 104.50 mid level:
The ASX200 is having another very solid day, this time up over 1.3% to the 6664 point level while the Australian dollar is trying to regain from last nights big pullback as it remains floating just above the 73 handle against USD:
Eurostoxx and S&P futures are really picking up on the “OMG there’s going to be an actual functioning adult in the White House soon” realisation with the four hourly chart of the S&P500 showing price breaking out above it own high moving average and above the 3600 point level:
The economic calendar includes the closely watched German IFO survey plus 3Q GDP results and then in the US its consumer confidence and house price figures.