Asian stock markets have rebounded after the US inflation led bounce on Wall Street overnight with the reversal in USD strength against the major risk currencies still holding, with gold hovering just below the $1800USD per ounce level. Meanwhile Bitcoin continues its little uptick above the $57K level, as it remains poised to match its previous record high at the $60K level but local resistance may yet prove too tough in the short term:
The Shanghai Composite is eking out a scratch session, up slightly to 3567 points while the Hang Seng Index was closed due to a holiday. Meanwhile Japanese markets rebounded after a minor recent pullback, with the Nikkei 225 closing 1.5% higher to 28517 points as the USDJPY pair stabilised just above the mid 113 level after short term momentum had pushed through extreme overbought levels at the start of the week:
Australian stocks were able to lift, with the ASX200 able to push back above the 7300 point level, closing 0.5% higher at 7311 points while the Australian dollar deflected the poor numberwang print, almost pushing through the 74 handle:
Eurostoxx and S&P futures are lifting slightly, with the four hourly chart of the S&P500 showing price wanting to build on its move above ATR support at the 4330 point level but this will be all dependent on earnings season reactions:
The economic calendar includes a big bunch of ECB/Fed member speeches, but also weekly initial jobless claims from the US.