Asian stock markets are having a mixed session with local stocks not liking the better than expected retail sales print that has put the potential for another rate hike by the RBA in the spotlight again. Other risk markets are still weighing up the central banker talkfest going on both sides of the Atlantic with currency markets still going strong USD.
Oil prices are inching higher on potential supply problems with Brent crude just below the $74USD per barrel level while gold is looking depressed again, still struggling after a series of low sessions to remain just above the $1900USD per ounce level:
Mainland Chinese share markets are seeing a late surge after a sideways session with the Shanghai Composite currently up more than 0.1% to 3197 points while the Hang Seng Index is going the other way, down more than 1.4% going into the close at 18902 points.
Japanese stock markets are putting in a scratch session with the Nikkei 225 closing dead flat at 33201 points with the USDJPY pair still pusher higher above the 144 level again:
Australian stocks fell back initially on the good retail sales print, with the ASX200 closing just 3 points lower at 7193 points. The Australian dollar however remains despondent here at the 66 handle, still reeling from yesterday’s May inflation print, with short term momentum remaining in the oversold zone:
Eurostoxx and S&P futures are drifting sideways as we head into the London open with the S&P500 four hourly chart holding at previous ATR support at the 4400 point level, not yet out of trouble as markets hings on Powell’s comments:
The economic calendar continues with the latest German inflation rate and final Q1 GDP growth rates and initial jobless claims.