Asian share markets are being impacted by domestic events with the BOJ broadcasting some dovish moves while local retail sales actually pushed the Australian dollar higher alongside local stocks, despite a lack of a positive lead from Wall Street overnight.
Oil prices are trying to claw back recent losses but Brent crude is stalled just above the $82USD per barrel level while gold is slowly building higher, advancing above the $2030USD per ounce level it exceeded on Friday night as it tries to push aside short term resistance:
Mainland and offshore Chinese share markets are somewhat divergent with the Shanghai Composite gaining nearly 1% while the Hang Seng is up just 0.1% to 16554 points. Japanese stock markets have again gone nowhere with the Nikkei 225 down 0.1% to 39166 points while the USDJPY pair has fallen over to break the 150 handle after the poor domestic prints:
Australian stocks are finally getting a wriggle on with the ASX200 up more than 0.5% to almost break the 7700 point level, closing at 7698 points while the Australian dollar has rebounded on the latest retail sales print, heading back above the 65 cent level:
S&P and Eurostoxx futures are steady but not looking exciting as we go into the London session with the S&P500 four hourly chart showing price action hovering just below the 5100 point level:
The economic calendar ramps up again with German unemployment and inflation, followed by US inflation.