Asian share markets remain in a bullish mood with the weaker USD helping risk spirits as the Australian dollar holds well above the 67 cent level.
Oil prices are holding on to their overnight gains due to the continued Red Sea attacks as Brent crude sits above the $79USD per barrel level while gold is in a pause phase, remaining just above the $2040USD per ounce level:
Mainland Chinese share markets are in freefall with the Shanghai Composite cracking below the 2900 point barrier, falling more than 1% while in Hong Kong the Hang Seng Index has gone the other way, lifting nearly 0.6% to 16578 points. Japanese stock markets are again breaking higher with the Nikkei 225 finishing 1.4% higher to 33675 points while the USDJPY pair is trying to break out of its funk to remain above the 143 level:
Australian stocks had another very solid session with the ASX200 lifting nearly 0.6% higher to break through the 7500 point level, closing at 7537 points while the Australian dollar kept on to its overnight breakout above the 67 cent mid level but it is slowing down going into the London session:
S&P and Eurostoxx futures are slowly rising going into the London open as the S&P500 four hourly chart shows a continuation pattern after breaking out of its recent trendline following the reaction to the dovish Fed meeting. The 4700 point level is likely to become the new support level with the 4800 level likely the next target to go:
The economic calendar gets busy tonight with German consumer confidence, UK core inflation, a few ECB speeches then US core inflation numbers for December.