Asian stock markets are somewhat mixed despite the strong lead from Wall Street overnight with Chinese bourses leading the way while local stocks fell back sharply as the Australian dollar accelerated against the short squeeze on USD. Bitcoin continues its epic journey higher, now up near the $47K level following the Tesla bid as momentum builds strongly on the four hourly charts:
The Shanghai Composite is up nearly 1.5% going into the close, now closing in on the 3600 point barrier while in Hong Kong the Hang Seng Index is up 0.4% to be at 29432 points. Japanese markets are in a stall mode after the big surge previously with the Nikkei 225 holding steady at 29404 points with the USDJPY pair breaking down below its own ATR trailing support level and through the 105 handle proper as the USD selloff continues:
The ASX200 took back its solid start to the week, with a pullback of 0.7% to close at 6821 points with the Australian dollar not helping by surging right through the 77 handle for nearly a two week high as all the majors continues to pound the USD:
Eurostoxx and S&P futures are flatlining going into the London session, with the four hourly chart of the S&P500 showing a small stall here as momentum begins to taper as this reflation rally tries to get up to the 4000 level:
The economic calendar is relatively quiet again tonight – save for the start of Trump’s 2nd impeachment trial (what’s next, elevensies?) – with the German trade balance and US Redbook the only events of note.