Asian stocks are doing much better across the region in response to yet another record high on Wall Street overnight with the RBA in its June meeting holding again, which gave the Australian dollar a small boost above the 66 cent level.
Oil prices are holding on to their overnight gains with Brent crude just above the $84USD per barrel level while gold has gone nowhere as it remains stuck just above the $2300USD per ounce level in a two week long holding pattern:
Mainland Chinese share markets are finally finding some positive momentum with the Shanghai Composite up more than 0.5% while the Hang Seng Index has put in another scratch session closing at 17921 points. Meanwhile Japanese stock markets are trying to get out of their holding pattern with the Nikkei 225 up 1% to 38482 points as the USDJPY pair almost broke out above the 158 level to match its previous weekly high:
Australian stocks were able to put in a very solid session despite the RBA hold with the ASX200 closing 1% higher to 7778 points while the Australian dollar has shot higher following the non-decision, lifting right through the 66 cent handle:
S&P and Eurostoxx futures are both up marginally as we head into the London session with the S&P500 four hourly chart showing price action holding after last nights breakout with yet another step up higher forming:
The economic calendar is getting busy with Euro core inflation, the closely watched German ZEW survey and then US retail sales.