Macro Afternoon

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Another relatively mixed session for Asian stocks with Chinese bourses unstable with only the ASX200 lifting substantially as the Australian dollar continues to falter as it hovers at the 70 cent level while Euro flops around after a very poor start to the week. Meanwhile oil prices are also slipping, with Brent crude retracing further well below the $100USD per barrel level, while gold is again proving frustrating as it holds on to its poor Monday morning start well below the $1800USD per ounce level:

Mainland Chinese share markets have been oscillating across the session with the Shanghai Composite lifting into the close to be up 0.2% to 3282 points while the Hang Seng Index has retraced again, currently down 0.5% to 19937 points. Japanese stock markets are dead flat after last week’s surge, with the Nikkei 225 flat at 28872 points as the USDJPY pair also goes nowhere, pushing sideways at just above the 133 handle:

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Australian stocks lifted even further with the ASX200 now extending above the 7100 point level to close 0.6% higher at 7105 points. The Australian dollar has been unable to get out of its start of week funk and is still hovering just above the 70 cent level against USD:

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