Macro Afternoon

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Asian stock markets are being weighed down by Chinese shares selling off in the wake of the Evergrande crisis with Japanese shares also down sharply. Currency markets are seeing a modest return to strength by the USD, although gold is itching higher trying to get back above the $1800USD per ounce level. Meanwhile Bitcoin has retraced slightly from its new record high, hovering just below the $65K level:

The Shanghai Composite is selling off quickly going into the close, currently down 0.2% to 3580 points, while the Hang Seng Index is taking back all of the previous session gains to be down 1.1% at 25846 points. Japanese markets are also in retreat mode with the Nikkei 225 closing nearly 2% lower at 28703 points as the USDJPY pair continues its very mild retracement from overnight to slightly dip below the 114 level:

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Australian stocks are largely unchanged with the ASX200 closing above the 7400 point level again, finishing at 7413 points while the Australian dollar has had a very minor pullback to dip just below the 75 level against USD:

Eurostoxx and S&P futures are falling back in line with Asian shares as we head into the London session, with the four hourly chart of the S&P500 showing price breaking below that bearish rising wedge pattern that has formed from the start of the week as it got ahead of itself above the 4500 point level. But support remains strong here for now:

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The economic calendar includes US initial weekly jobless claims and existing home sales data tonight.