Asian share markets are having a much more relaxed session across the region as speculation of a possibly positive outcome from the US-China trade talks builds although this might be goosed tonight as European and US share futures are slowly taking a dive. Currency markets are holding their own against recent USD strength as most undollars cling to their weekend gap gains with the Australian dollar remaining above the 65 cent level again despite weak economic data.
Oil markets are consolidating into recent strength with Brent crude remaining above the $66USD per barrel level while gold has recovered very slightly from its recent contraction to hold just below the $3340USD per ounce level:
Mainland Chinese share markets are getting of their recent holding pattern as the Shanghai Composite jumped more than 0.6% in the afternoon session to get above the 3400 point level while the Hang Seng Index also zoomed more than 1% higher to get back above the 24000 point level. Japanese stock markets are still trying to continue their bounce back with the Nikkei 225 moving 0.4% higher to 38370 points while trading in the USDPY pair has seen a small build to climb above the 145 level:
Australian stocks were the worst relative performers on the consumer confidence print with the ASX200 closing just 0.1% higher at 8597 points while the Australian dollar remains slightly above the 65 handle:
S&P and Eurostoxx futures are slipping slightly with the S&P500 four hourly chart still showing a desire to push above the recent highs at the 6000 point level but short term momentum is slipping out of overbought mode:
The economic calendar will focus squarely on the latest US core inflation print tonight.