Asian share markets continue their bullish bent, taking the positive lead from Wall Street with gains across the region as local stocks beat the rest on a lower inflation print. The USD is giving up minor levels going into the London session again although the Australian dollar was able to hold well above the 64 cent level despite the lower inflation print.
Oil prices are starting to breakout with Brent crude wanting to lift off the $85USD per barrel level while gold is now building on to its recent gains, holding well above the $1930USD per ounce level:
Mainland Chinese share markets are flat going into the close with the Shanghai Composite barely up at 3137 points while in Hong Kong the Hang Seng Index are doing better, currently up 0.4% to 18549 points.
Japanese stock markets are trying to build on this recent rebound, with the Nikkei 225 closing nearly 0.4% higher at 32333 points while the USDJPY has been able to take back some of last night’s sharp reversal to be barely above the 146 level:
Australian stocks were the best performers in the region with the ASX200 closing some 1.2% higher at 7297 points while the Australian dollar was able to hold near its recent breakout highs despite the lower inflation print as short term momentum inverts:
Eurostoxx and S&P futures are up only 0.2% or so with the S&P500 four hourly chart showing a desire to push through resistance at the 4500 point area from last week:
The economic calendar includes German inflation and the latest 2Q US GDP estimates plus pending home sales.