Kayaking in the Cook Islands, 2019: Photo by H. Becker
Stock markets are largely higher across Asia but there is some buying exhaustion setting in as the positive spin on the US election and vaccine news begins to wane despite the record high on the Dow Jones overnight. The USD continues to firm up against most of the majors with Bitcoin trying to pip above $19000 while gold remains at its new monthly lows, barely hovering above the $1800USD per ounce level:
The Shanghai Composite is falling fast going into the close, down about 1% to 3365 points while in Hong Kong the Hang Seng Index its still a case of treading water with a minor lift of 0.2% to 26648 points. Japanese stock markets continue to surge higher however with the Nikkei 225 up 0.5% to 26296 points while the USDJPY pair has held on to its recent surge but continues to stall out here at the 104.50 mid level:
The ASX200 is having yet another very solid day, this time up 0.6% to the 6683 point level while the Australian dollar has reversed course this afternoon, heading back down to the low 73s against USD after attempting a new session high overnight:
Eurostoxx and S&P futures are flat lining after being up mid session with the four hourly chart of the S&P500 showing price a possible rollover here after the irrational exuberance of last night’s session:
The economic calendar is packed tonight with US durable goods orders, the latest 3Q GDP estimate, weekly initial jobless claims and some core CPI numbers for October.