Asian stock markets are all falling back in response to the weak session on Wall Street except Japanese shares which have re-engaged to the upside. UK inflation surprised with a higher print, sending Pound Sterling up while the USD has gained against most of the majors while the Australian dollar remains in a funk below the 68 cent level.
Oil prices are gaining slightly as volumes return to normal with Brent crude holding just above the $76USD per barrel level while gold is still struggling after falling back sharply in the previous session, barely holding at the $1930USD per ounce level:
Mainland Chinese share markets were down all session again with the Shanghai Composite losing 0.8% to the 3215 point level while the Hang Seng Index sunk more nearly 2% lower to push down to 19241 points.
Japanese stock markets are lifting out of their recent breather with the Nikkei 225 closing 0.6% higher to 33575 points with the USDJPY pair also lifting higher to just below the 142 level:
Australian stocks are taking back a lot of their recent gains with the ASX200 losing nearly 0.6% to close at 7314 points. The Australian dollar was held below the 68 handle and is looking tenuous here as short term momentum reverts sharply:
Eurostoxx and S&P futures are going nowhere as we head into the London open with the S&P500 four hourly chart flat lining here just above the 4400 point level after bursting through resistance at the 4300 area last week but short term momentum is waning:
The economic calendar is relatively quiet until we get to Fed Chair Powell’s testimony in Congress.