Asian share markets are generally higher after news that the Trump regime has managed to secure the framework of a “deal” with the EU, even though it looks like resulting in massive tariffs for American importers. Markets love the news because at least its the semblance of stability with Wall Street and Eurostoxx futures up at least 1% while the Australian dollar maintains weakness below the 66 cent level.
Oil markets are falling back again with Brent crude battling at the $68USD per barrel level while gold is trying to get back on track after been pushed below the $3400USD per ounce level, rebounding slightly to get back above the $3340USD per ounce level:
Mainland Chinese share markets have steadied going into the close with the Shanghai Composite just below 3600 points while the Hang Seng Index is up by nearly 0.5% to extend above the 25000 point level. Japanese stock markets were the odds one out with the Nikkei 225 pushed 1% lower to be just above 41000 points while the USDPY pair is heading higher after gapping above the 148 level:
Australian stocks were able to take back some lost ground with the ASX200 closing 0.5% higher at 8697 points while the Australian dollar initially gapped higher over the weekend trade but has since returned to its Friday finish at just above the mid 65 cent level against USD:
S&P and Eurostoxx futures are up strongly going into the London session on the trade deal with the S&P500 four hourly chart showing the market about to pop up to even more new record highs despite being extremely overbought:
The economic calendar starts the trading week quietly with some US Treasury auctions and not much else tonight.