Asian stock markets are mixed again with Japanese markets surging, Chinese markets retracing and Australian markets doing 2/5ths of nothing. The USD is remaining relatively strong although the Aussie and Kiwi are coming back as the Euro remains flat while gold is holding above the $1800USD per ounce level. Meanwhile Bitcoin is teetering just above the $62K level, unable to burst back above the previous and record high:
Chinese shares are struggling to gain traction again with the Shanghai Composite pushed back below the 3600 point level, down 0.3% while the Hang Seng Index is off 0.5% to be back below the 26000 point level. Japanese markets however are bouncing back strongly after the poor start to the trading week with the Nikkei 225 closing 1.8% higher at 29139 points, helped along a little from the rising USDJPY pair which may have found a base here at the 113.30 level:
Australian stocks have gone nowhere, with the ASX200 still closing well above the 7400 point but dead flat at 7443 points while the Australian dollar is starting to move higher again after consolidating just below the 75 handle, now pushing through and ready to tackle last week’s high:
Eurostoxx and S&P futures are up nearly 0.3% going into the London session, with the four hourly chart of the S&P500 showing price wanting to exceed its overnight record highs and still well supported here as more tech earnings reports come in:
The economic calendar continues with US house prices and consumer confidence prints for October.