Asian share markets are struggling to post positive returns with the USD coming back slightly after a stumble on Friday night with Wall Street expected to again open a little lower following the wobbly session post the Thanksgiving holiday and absorbing last night’s disappointing home sales data.
Oil prices are trying to stabilise with Brent crude still hovering at the $80USD per barrel level while gold is holding strongly above the $2000USD per ounce level still shoring up short term support:
Mainland Chinese share markets are back in the green near the close with the Shanghai Composite up 0.3% at 3030 points while in Hong Kong the Hang Seng Index has lost ground, closing some 1% lower at 17354 points. Japanese stock markets also couldn’t get back into the positive mood either with the Nikkei 225 losing 0.1% to 33408 points while the USDJPY pair is continuing its rollover to almost break below the 148 level:
Australian stocks were the best performers in the region with the ASX200 closing some 0.4% higher, getting back above the 7000 point support level to close at 7015 points while the Australian dollar has continued to hold above the 66 cent level but is starting to look a little toppy:
S&P and Eurostoxx futures are steady going into the London open as the S&P500 four hourly chart shows support continuing to firm at the 4500 point level where price action is likely to test in tonight’s session, following a series of large steps following the recent rebound above the 4300 point level:
The economic calendar includes a slew of Fed speeches, but focus will be on the latest US consumer confidence print.