Green across the board for stock markets across Asia following last nights FOMC meeting but its all about earnings and record commodity prices as risk sentiment continues to bubble over. A late surge in the USD is seeing some gains on the major pairs come off the boil a little although Yuan is reverting back to its January high against King Dollar. Bitcoin is again decelerating this afternoon after failing to follow through on its midweek breakout, remaining below the overnight $55K level and not yet exceeding last week’s breakdown highs:
Chinese markets saw a strong bid towards the close with the Shanghai Composite lifting by more than 0.5% to finish at 3474 points while the Hang Seng Index finally found some life and closed 0.7% higher to 29277, managing to escape resistance at the 29000 point level. Japanese markets were less confident with the Nikkei 225 only managing a meagre 0.2% lift higher to 29053 points as the USDJPY pair oscillated wildly post the FOMC meeting, bouncing back later this afternoon to almost breach the 109 handle again:
The ASX200 finished 0.25% higher to 7082 points, while the Australian dollar has again rejected overhead resistance at the 78 handle following a post CPI wild swing higher, pushed back to the 77.80 level going into tonights session but still looking bullish here:
Eurostoxx futures are up 0.2% or so while S&P futures are lifting slightly going into the London open, with the four hourly chart of the S&P500 showing price wanting to expand on its recent record highs above the 4180 point level as momentum is pushing into outright overbought stage:
The economic calendar is packed again with German inflation and unemployment, then the latest US GDP print.