Asian stock markets are all lifting in unison as we start a new trading week following the big inflation prints in US and Germany on Friday night. The USD is gaining a little strength against risk currencies although the Australian dollar remains well above the 71 cent level and looks quite firm. Meanwhile gold is a few dollars higher, almost hitting the $1790USD per ounce level as Bitcoin gaps higher after weekend trading but fails to make it stick, still hovering below the $49K level as price is unable to make any positive momentum:
Mainland Chinese shares are putting in a strong session with the Shanghai Composite up more than 0.7% to 3694 points while the Hang Seng Index is up exactly 1% going into the close to get back above the 24000 point level. Japanese markets are also quite boisterous with the Nikkei 225 closing 0.8% higher at 28678 points with the USDJPY pair gapping slightly lower but returning to the mid 113 level but holding on just below trailing short term resistance:
Australian stocks had the weakest result relatively speaking with the ASX200 lifting just over 0.3% to almost get back above the 7400 point level, closing at 7379 points as the Australian dollar gapped slightly lower but managed to almost return to its Friday night high, remaining slightly below the 72 level and looking to breakout soon:
Eurostoxx futures and S&P futures are lifting going into the London open, with the S&P500 four hourly chart showing price wanting to continue its breakout above the former 4700 point resistance level that looks like turning into support for another run higher:
The economic calendar starts the week slowly without any major releases.