A solid session across Asian stock markets today, in the followup to the bounceback on Wall Street overnight as consumer confidence rebounds. Currency markets are seeing a moderation of USD appreciation while Yen gets back on the strengthening train as the Australian dollar finally breaks out above the 67 cent level. Meanwhile oil prices remain relatively stable with Brent crude holding just above the $82USD per barrel level while gold’s breakout above the key $1800USD per ounce level is having another stab at the recent weekly high, just shy of the $1820 level this afternoon:
Mainland Chinese share markets are holding on to some small gains as we head into the close with the Shanghai Composite up 0.3% but still below the 3100 point level, currently at 3075 points while the Hang Seng Index is zooming higher than anything else, currently up 2.7% to the 19688 point level. Japanese stock markets have finally stopped selling off in the post BOJ pivot phase with the Nikkei 225 closing 0.5% higher at 26526 points as the USDJPY pair fails to stabilise to cross below the 132 level:
Australian stocks had moderate gains with the ASX200 pushing some 0.5% higher as it continues its bounce off key support at the 7000 point level, finishing at 7151 points. The Australian dollar however finally moved out of its holding pattern, extending its gains from overnight to surpass the mid 67 level against USD:
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