Asian share markets are quite mixed as we start another trading week, absorbing the very unsettling finish on Wall Street on Friday night. Currency markets are also clawing back more ground against USD as the Australian dollar firms above the 71 level to make a new weekly high. Oil prices are stabilising with Brent crude now hovering just above the $113USD per barrel level while gold is trying to build on its recent gains, currently lifting at the $1853USD per ounce level:
Mainland Chinese share markets were doing well at the start of the session but the Shanghai Composite has pulled back to close dead flat at 3146 points while the Hang Seng Index has pulled back most of its previous gains, down 1.3% at 20435 points. Japanese stock markets are the only non losers it seems, with the Nikkei 225 index gaining just below 1% to close at 27001 points while the USDJPY pair has failed to breakout following the weekend gap, currently just below the 128 level as Yen defensive buying has not yet abated:
Australian stocks shot out of the gate at the open but have pulled back to close with a scratch sesison with the ASX200 finishing only 3 points higher at 7148 points, keeping the key 7000 point support level intact for now. Meanwhile the Australian dollar has kept shooting out the gate with a breach of the 71 handle to make a new weekly high as traders react kindly to an Albo-Greenwave:
Eurostoxx and Wall Street futures are up slightly as we head into the European open with the S&P500 four hourly chart showing price still anchored well below the 4000 point level although a swing trade is possibly brewing here as momentum inverts:
The economic calendar starts the week with the German IFO survey and not much else on the agenda.