Asian stock markets are bouncing back although mainland Chinese markets remain under pressure with risk sentiment rebounding on European markets. The Australian dollar has continued to selloff, still holding barely at the 74 cent level versus USD, while the USDJPY pair makes a two decade high. Oil markets are trying to stabilise with both markers now back above the critical $100USD per barrel level after a near 6% rise overnight, while gold continues to push higher, now at $1970USD per ounce. Bitcoin has crumbled once again, now pushing below the $40K level and looking to break for a new monthly low:
Mainland Chinese share markets remain unsettled with the Shanghai Composite falling 0.4% to 3200 points while the Hang Seng Index has managed a scratch session to finish at 21302 points. Japanese stock markets however are putting in a big bounce after lots of selling recently with the Nikkei 225 closing nearly 2% higher at 26843 points while the USDJPY pair has also broken out yet again, now at a two decade high above the 126 handle:
Australian stocks were able to put in a mild jump, with the ASX200 closing 0.4% higher at 7479 points, still remaining well below the key 7500 point level, while the Australian dollar has continued to pullback its nascent breakout from last night, now almost gone as it remains anchored at the 74 handle:
Eurostoxx and Wall Street futures are lifting higher with the latter doing better, up 0.7% with the S&P500 four hourly chart still vainly looking to make a bottom pattern here. The 4500 point level is now a distant memory as price retraces back down to monthly support with momentum remaining oversold and ready to keep going down:
The economic calendar includes UK core inflation and US PPI prints.