Hope and fear remain in equal parts across risk markets with Asian stock markets reflected of the divergent fortunes in overnight markets, although it seems Europe will start with a slip as Eurostoxx futures are lower. USD remains strong against all the majors except safe haven buying in Yen while the Australian dollar is back to its depressed mood, flirting with the 71 cent level once more. Bitcoin is equally depressed, still hovering just below the $57K level as it fails to make any new session highs while gold is failing to pick itself off the floor, remaining below short term support at the $1780USD per ounce level and setting up for further downside:
Chinese shares are still somewhat listless despite a previous solid session with the Shanghai Composite largely unchanged at 3574 points while the Hang Seng Index has continued its rebound with a 0.4% lift higher to 23765 points. Japanese markets however have failed to stabilise with the Nikkei 225 closing 0.6% lower at 27753 points with the USDJPY pair unable to get out of its downtrend channel, barely hovering above the 113 level and nowhere near out of trouble:
Australian stocks had another mild selloff with the ASX200 closing 0.1% lower at 7225 points as the Australian dollar failed to recover from its overnight move down to the 71 handle as the nascent short term bottom pattern on the four hourly chart evaporates:
Eurostoxx futures are down while S&P futures are struggling to gain ground here after the large falls overnight, with the S&P500 four hourly chart showing price barely hovering above the key 4500 point level as trailing ATR resistance at the 4670 point level remains a long way away:
The economic calendar includes the latest ECB general council meeting, followed by Eurowide unemployment then US initial jobless claims.