As Putin changes his tune over Ukraine, stock markets have continued the rebound from overnight markets here in Asia with commodity prices pulling back and the USD slipping against most of the major currencies. Bitcoin is slowly rising after being dormant, while gold is consolidating after a swift selloff overnight as safe haven bids dissipated, now sitting just above the $1850USD per ounce level, slightly lower than its previous near six month high:
Mainland Chinese shares are lifting going into the close with the Shanghai Composite up nearly 0.5% to 3461 points while the Hang Seng Index has reversed again, up 1% to 24643 points. Japanese stock markets are also moving higher with the Nikkei 225 surging some 2% to close at 27460 points, while the USDJPY pair is eking out a very small gain as safe haven buying in Yen has slowed down, but not stopped, keeping it above the mid 115 level but with a wedge forming here on the four hourly chart:
Australian stocks have joined in with the rebound as the ASX200 finished 1% higher at 7284 points while the Australian dollar is slowly rising again, getting back above the mid 71 level and above the previously weekly high at 71.60 against USD:
Eurostoxx and Wall Street futures are edging slightly higher as we head into the London open, with the S&P500 four hourly chart showing price wanting to maintain its position just above the previous support/resistance zone and the key psychological 4400 point level:
The economic calendar is busy again tonight with UK inflation and US retail sales.