Asian stock markets are generally higher despite Wall Street wobbling overnight as promises of more Chinese stimulus keeps the edifice afloat. Meanwhile the RBA held fire yet again going into their very long Christmas break with the Australian dollar breaking under pressure below the 64 handle.
Oil futures are sliding back to their recent weekly lows as traders await the next OPEC meeting with Brent crude staying well below the $72USD per barrel level while gold is trying to make good on its overnight gains, currently up slightly at the $2670USD per ounce level:
Mainland Chinese share markets are having a better session with the Shanghai Composite up more than 1% to extend above the 3400 point level while the Hang Seng Index is up nearly 0.7%, currently at 20555 points. Japanese stock markets are bouncing back after a little retreat with the Nikkei 225 up more than 0.3% at 39314 points while the USDPY pair has been able to hold on to its overnight highs after bouncing off monthly lows as it breaks the 151 handle:
Australian stocks are the odd ones out as they absorb the RBA hold with the ASX200 closing 0.4% lower at 8393 points while the Australian dollar has sharply reversed course to get back below the 64 cent level:
S&P and Eurostoxx futures are barely holding on to their overnight lows as we head into the London session with the S&P500 four hourly chart showing momentum now switching to negative settings after being overbought as price action rolls over towards the 6000 point area:
The economic calendar is light on tonight with eyes of some European CPI data but not much else.