Most Asian share markets are in an ebullient mood due to the very dovish FOMC meeting overnight but Japanese shares are falling behind due to the higher Yen while local shares are doing their best despite a lift in unemployment and the Australian dollar.
Oil prices are trying to recover with help from the weaker USD as Brent crude stay around the $74USD per barrel level while gold is holding on to its big gains overnight as it breached the $2000USD per ounce level and then some, currently at the $2030 level:
Mainland Chinese share markets are barely ticking over with the Shanghai Composite still below the 3000 point barrier at 2973 points while in Hong Kong the Hang Seng Index has bounced back with a 1% gain so far, currently at 16408 points. Japanese stock markets are under pressure due to the increased value in Yen with the Nikkei 225 down nearly 0.7% to 32706 points while the USDJPY pair is continuing to fall, now below the 142 level to make a new monthly low:
Australian stocks were the best in the region with the ASX200 lifting well above the 7300 point level to close 1.6% higher at 7377 points while the Australian dollar absorbed the unemployment print with a break above the 67 cent handle versus a very weak USD for a new monthly high:
S&P and Eurostoxx futures are again lifting higher going into the London open as the S&P500 four hourly chart shows a big lift above its recent trendline due to the dovish Fed overnight. The 4600 point level is likely to become the new support level having played as resistance for so long as part of a horizontal continuation pattern that is now truly broken:
The economic calendar switches gears to Europe and Brexitland with the ECB and BOE meetings, followed by US retail sales.