Asian share markets are generally weaker across the board as risk markets try to absorb the impact of the latest trade “deal” from the Trump regime while also anticipating some pretty big macro and economic releases in the coming session. Wall Street is the only light of hope for the bubble boys as earnings continue to come in shining while European stocks are on the down, with the USD still getting stronger against the majors as the Australian dollar maintains weakness at just above the 65 cent level.
Oil markets are not making much headway with Brent crude battling at the $69SD per barrel level while gold is trying to get back on track after almost pushed below the $3300USD per ounce level overnight:
Mainland Chinese share markets are steady going into the close with the Shanghai Composite just below 3600 points while the Hang Seng Index has lost more than 1% but is still just above the 25000 point level. Japanese stock markets remain in the doldrums with the Nikkei 225 pushed 1% lower but still holding on to the 41000 point level while the USDPY pair is still in an uptrend but retracing slightly towards the 148 level:
Australian stocks are just treading water in the positive zone with the ASX200 just below the 8700 point level while the Australian dollar is barely holding on to the 65 cent level against USD:
S&P and Eurostoxx futures are up slightly going into the London session on the trade deal with the S&P500 four hourly chart showing the market still wanting to make more new record highs despite being extremely overbought:
The economic calendar includes the latest US house price data plus consumer confidence print.