Macro Afternoon

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A flat end to the trading week for Asian stocks in response to the overnight hesitation on Wall Street, although Japanese shares are playing catchup after a mid-week holiday. Currency markets are still applying pressure to the USD with the Australian dollar pushing through the 71 cent level. Meanwhile oil prices are holding on to their overnight gains, with Brent crude hovering just below the $100USD per barrel level, while gold is still the odd undollar out, finding significant resistance at the $1800USD per ounce level and stuck:

Mainland Chinese share markets have been down throughout the session with the Shanghai Composite down to 3279 points while the Hang Seng Index has lifted slightly, currently up just 0.3$ to be at 20146 points. Japanese stock markets reopened from their holiday with the Nikkei 225 putting on more than 2% to 28465 points as the USDJPY pair holds on to its overnight highs just above the 133 handle:

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Australian stocks are pulling back in line with overseas markets though, with the ASX200 struggling to remain above the 7000 point level, currently down 0.7% at 7022 points. The Australian dollar has returned to its post US CPI print high at just above the 71 cent barrier:

Eurostoxx and US futures are unsteady as we head into the London session, as the S&P500 four hourly futures chart now showing overhead selling pressure as it fals to extend further above the 4200 point level, yet still at a new weekly high:

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The economic calendar finishes the trading week with the latest UK GDP print plus the latest Michigan consumer sentiment survey.