A sea of green across Asian stock markets today as we start the most volatile trading week of 2020. USD is retreating against some undollars with gold managing a small boost to $1884USD per ounce, but still well below its previously well supported $1900 level:
The Shanghai Composite is again stuck with a scratch session, up only 0.1% to 3225 points while in Hong Kong the Hang Seng Index has surged 1% to 24365. Japanese stock markets are boisterous too, with the Nikkei 225 closing nearly 1.4% higher to 23295 points as the USDJPY pair begins to push on overhead resistance at the 104.70 level:
The ASX200 is also moving forward, up 0.4% to 5951 points as traders await the triple whammy of the US election, Melbourne Cup and the RBA meeting tomorrow. Meanwhile the Australian dollar is fast losing ground and is now dicing with the 70 handle going into the London open:
Eurostoxx and S&P futures are up slightly with the four hourly chart of the S&P still showing an inability to get back above the 3300 point “bottom” as volatility gains momentum going into tomorrow’s shitstorm aka “election”:
The economic calendar is relatively quiet at first and then ramps up with the latest US ISM manufacturing PMI.