Asian stock markets are still relatively quiet and despite the drubbing on tech stocks overnight on Wall Street and the still closed mainland Chinese and Japanese markets, the ASX200 was able to put in a very solid session. Helped by a lower Austrailan dollar of course as the USD remains strong with Euro dropping fast now on the Europe open while in crypto land, Bitcoin has steadied somewhat at the $54K level as it failed to follow its Dogecoin bubble counterpart overnight:
The Hang Seng Index failed to make any headway, losing 0.7% to be at 28366 points as it remains on the ropes here as daily momentum is stuck in the oversold zone, with a likely retest of the March low at the mid 27000s:
The ASX200 was the standout in the region again, lifting 0.4% to close at 7095 points with the Australian dollar failing to clawback its reversal from overnight, smacked back down to the 77 handle going into the London open as medium term pressure at these weekly lows continues to build:
Eurostoxx and S&P futures are up 0.2% and moving higher, with the four hourly chart of the S&P500 showing price wanting to fill the losses from overnight and get back somewhere near the 4200 point level, but momentum readings are still pointing negative:
The economic calendar is relatively quiet with some more preliminary services based PMI surveys, a minor Fed speech and the EIA crude oil inventory report.