Asian stock markets have rebounded despite souring of confidence on Wall Street and the continued volatility around Ukraine. The USD is still conceding a lot of ground against the currency majors with Euro almost back to the 1.04 level while the Australian dollar has surged throughout the session to just over the 67 cent level. Oil prices remain depressed with Brent crude still barely hovering above the $90USD per barrel level while gold is also rebounding slightly, currently at the $1765USD per ounce level, coming up against short term resistance but looking better supported:
Mainland Chinese share markets are struggling to find any traction with the Shanghai Composite down nearly 0.2% at 3111 points while the Hang Seng Index has regained lost ground, currently up more than 0.8% to 18191 points. Japanese stock markets are looking to yet again put in scratch sessions with the Nikkei 225 currently up 0.4% at 27978 points, while the USDJPY pair has given back its overnight gains, currently just sitting below the 140 handle and back to looking extremely weak on the four hourly chart:
Australian stocks are having a solid finish to the trading with the ASX200 currently up 0.4% to 7163 points. The Australian dollar is surging back from its overnight drop, taking it back above the 67 handle, with four hourly momentum retracing to be almost positive but resistance overhead just can’t be cleared:
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