Macro Afternoon

Advertisement

Stock markets are looking healthier throughout Asia as the latest Chinese inflation print came in softer than expected while Wall Street is still waiting on next week’s FOMC meeting before ramping up its recent rally. Japanese bourses have shrugged off their recent selling while local stocks are still looking weak as the Australian dollar surges above the 67 cent level.

Oil prices are retracing slightly with Brent crude holding just at the $75USD per barrel level while gold is trying to claw back its mid week losses, but unable to make a new weekly high at the $1960USD per ounce level:

Mainland Chinese share markets are lifting going into the close with the Shanghai Composite up 0.3% to get back above the 3200 point level while the Hang Seng Index is up a similar amount to remain well above the 19000 point level.

Advertisement

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe