Another mixed session across Asian stock markets today, with the return of Japanese bourses while Chinese shares lifted on Yuan making a four month high. The USD is flat against Yen while the Australian dollar has lifted sharply up towards the 68 handle. Meanwhile oil prices are relatively stable after falling 4% overnight with Brent crude just below the $82USD per barrel level while gold is holding on to its great start to the year, breaking above the $1840USD per ounce level for a new monthly high:
Mainland Chinese share markets are pulling back slightly going into the close with the Shanghai Composite up a handful of points to remain above the 3100 point level, currently at 3117 points while the Hang Seng Index has continued its strong bounce, up 2% to the 20570 point level. Japanese stock markets have reopened with the Nikkei 225 selling off, down 1.5% to close at 25729 points while the USDJPY pair has consolidated just below the 131 handle and still looking weak here below short term resistance:
Australian stocks played catchup after its start of year steep losses with the ASX200 gaining some 1.6% as confidence returns, sending the market above the 7000 point level to finish at 7059 points. The Australian dollar rebounded in early trade and has continued, almost back above the 68 level and its uptrend from Christmas:
Eurostoxx and US futures are slowly drifting higher, the latter desperately trying to get off the floor as we head into the London session with the S&P500 four hourly chart showing price action still depressed below the 3900 points level as 4000 points remains a distant memory:
The economic calendar will be dominated by the latest US ISM Manufacturing PMI print, then the release of the recent FOMC minutes.