With mainland Chinese and Japanese markets closed again, there wasn’t much going on here in Asia even as the RBA board of doves met again and did precisely nothing, leaving the Aussie dollar essentially unchanged. In crypto land, Bitcoin has pulled back from its Monday breakout, hovering just above the $56K level and trailing support on the four hourly chart as it tries to fill its two week correction:
The Hang Seng Index today was able to make a modest bounceback today after the previous drubbing, gaining just over 0.5% to close at 28492 points but still on the ropes here as daily momentum remains in the oversold zone as we could see a retest of the March low at the mid 27000s:
The ASX200 also had a modest session as traders continually bid to keep the bourse above the 7000 point level, closing 0.5% higher at 7067 points. Meanwhile the Australian dollar clawed back some of its overnight reversal games in the wake of the RBA meeting, although its back where it started at the mid 77s going into the London open where the weak USD trend should continue, theres still no buy signal here yet:
Eurostoxx and S&P futures are only up 0.1 to 0.2% with the four hourly chart of the S&P500 showing price continuing its Friday night hesitation below the 4200 point level, wanting to get back to its previous record high, but momentum readings point to sideways action at best:
The economic calendar is relatively quiet with US balance of trade figures and factory orders for May.