Asian stock markets are having mixed results with Chinese shares still under pressure while the rebound on Wall Street overnight has seen local stocks lift slightly. The USD is holding on to its recent gains against the currency majors with Euro still sharply below the 1.03 level while the Australian dollar is bravely trying to defend the 66 cent level. Oil prices remain depressed with Brent crude now below the $87USD per barrel level while gold is holding in line with other majors, still at a new weekly low at the $1740USD per ounce level after recently breaking short term support:
Mainland Chinese share markets are struggling to hold on to early gains with the Shanghai Composite down slightly going into the close at 3082 points while the Hang Seng Index is continuing to lose ground, currently down 1.6% to 17357 points. Japanese stock markets are heading higher as Yen goes lower with the Nikkei 225 closing 0.6% higher at 28115 points, while the USDJPY pair has stayed just below the 142 handle after its overnight breakout takes a breather:
Australian stocks headed back into the green after a wobbly start to the trading week with the ASX200 closing nearly 0.6% higher at 7181 points. The Australian dollar remains depressed and still below last week’s intrasession low at just above the 66 handle, with four hourly momentum retracing to oversold ready to extend further below:
Eurostoxx and US futures are drifting sideways amid the rise in USD, with the S&P500 four hourly chart showing price action still well contained below the 4000 point level as support is still quite firm below:
The economic calendar continues quietly tonight with some consumer confidence figures from Europe and a few Fed speeches but not much else.