Asian share markets are somewhat mixed and unsettled going into tonight’s newsflow with Trump “serving” his last day as US President, with focus and realisation of both further stimulus and big tax increases confusing risk appetites. Bitcoin is at another crossroads, having sold off throughout the session to be back below the $36K level and almost at a new weekly low, with momentum now oversold and signalling a potential breakdown:
The Shanghai Composite is flat again before the close, currently hovering just below the 3600 point level while in Hong Kong the Hang Seng Index has put on another 0.5% to further extend its blowout from yesterday’s session, extending gains beyond the 29000 point level. Japanese markets are slowly deflating again with the Nikkei 225 off by 0.4% to close at 28504 points as the USDJPY pair is pushed lower on Yen buying, sending it back below the 104 handle and back in stall mode:
The ASX200 made another good advance, closing 0.4% higher to 6770 points, while the Australian dollar lifted sharply on the consumer confidence print, now back above the 77 handle as this short term swing play gains further momentum on the better risk-on mood:
Eurostoxx and S&P futures are mixed so far going into the London open, with the four hourly chart of the S&P500 showing a possible breakout above the 3800 point level after previously bouncing off weekly support:
The economic calendar includes two important events overnight, the latest Euro wide inflation print plus we find out if Joe Exotic gets a pardon alongside 100 other criminals (Bannon having been a midnight snack just a few hours ago…) as Trump finally drains his swamp in the wee hours of the morning.