Asian share markets have reacted in mixed fashion to the overnight moves on Wall Street as the latest Fed meeting transmits a more hawkish approach sooner. The USD continues to strengthen against the major currencies with gold struggling going into the London session, currently just above the $1800USD per ounce level. Bitcoin is vainly trying to fight back after its own overnight slump, unable to get back to the $40K level as momentum wanes:
The Shanghai Composite has finally stopped selling off, but is only up a handful of points going into the close, at 3522 points, while the Hang Seng Index is also treading water, currently unchanged at 28451 points. Japanese stocks have continued their pullback with the Nikkei 225 closing 0.9% lower at 29036 points as the USDJPY pair remains elevated well above the 110 handle and well supported for more upside:
Australian stocks are struggling post the Fed meeting with the ASX200 closing only 0.3% higher at 7362 points while the Australian dollar was able to blip higher on the latest jobs print, but this looks tenuous at best, as it rolls over and heads back to the 76 handle:
Eurostoxx and S&P futures are falling going in the London open with the four hourly chart of the S&P500 showing momentum reverting after its big selloff but price action indicating more downside later tonight as the punchbowl is slowly taken away by the Fed:
The economic calendar shifts to Europe with the latest core inflation data, then US initial weekly jobless claims.