Asian stocks are continuing their rebound from the end of the previous trading week, with Chinese shares taking a long weekend break while the slightly lower USD is helping domestic stocks but not leading into higher gains in domestic currencies. The Australian dollar is basically unchanged as it remains slightly above the 68 cent level while in commodity land, oil prices are pulling back slowly after a mild bounceback on Friday night night with Brent crude slightly above the $91USD per barrel level while gold is still stuck below weekly resistance at the $1720USD per ounce level:
Mainland and offshore Chinese share markets are having a holiday with Japanese stock markets continuing to add to their previous gains, with the Nikkei 225 closing some 1% higher at 28506 points with the USDJPY pair gapping slightly higher to just get above the 143 level:
Australian stocks are having a solid start to the week, with the ASX200 closing more than 1% higher at 6968 points. The Australian dollar is trying to hold on to its Friday night gains above the 68 level but has gone nowhere through the session:
Eurostoxx and US futures gapped slightly higher over the weekend but have paused now going into the London session, with the S&P500 four hourly futures chart showing price action wanting to extend above the 4100 point level as four hourly momentum is overextended and overbought as overhead resistance dissipates:
The economic calendar starts the trading week with the latest UK 3Q GDP print.