Asian share markets are not finding much confidence to end the trading week with the latest economic data from China not helping. The USD remains too strong against everything, with Euro ready to crack below parity while the Australian dollar is hovering above the 67 handle. Oil prices are still under pressure with Brent crude still just below the $100USD per barrel level, while gold is slipping again after overnight intrasession volatility, ready to make another new daily low at the $1708USD per ounce level:
Mainland Chinese share markets are slipping going into the close on the back of the GDP print with the Shanghai Composite currently down 0.4% to 3266 points while the Hang Seng Index has slumped 1.6%, currently at 20411 points. Japanese stock markets were the only positive note in the region, with the Nikkei 225 index about to close 0.5% higher at 26785 points while the USDJPY pair has kept on to its overnight surge, holding at the 139 handle in a blowoff move to new yearly highs:
Australian stocks are falling sharply on the Chinese GDP print, with the ASX200 about to finish nearly 1% lower to slip below the 6600 point level, currently at 6593 points. The Australian dollar keeps losing ground against the USD, now just above the 67 level read to make a new weekly low as part of its multi month downtrend:
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