Asian share markets are having a poor final session for the week although Japanese shares are seeing a big bid in response to tariff reversals while the latest BOJ meeting summary was met with appreciation. Yen was relatively steady against USD but other currency pairs continue to push the once mighty King dollar down again with the Australian dollar is looking firmer to stay above the 65 cent level in afternoon trade.
Oil markets are still selling off with Brent crude about to crack below the $66USD per barrel level while gold has been able to hold onto its Friday night reversal gains, and looks set to breakout here as resistance above the $3400USD per ounce level is starting to crack:
Mainland Chinese share markets are steady going into the close with the Shanghai Composite remaining above the 3600 point level while the Hang Seng Index has pulled back sharply, down 1% to retreat below 25000 points. Japanese stock markets are doing much better with the Nikkei 225 closing nearly 2% higher at 41793 points while the USDPY pair has failed to hold on to its recent high as it steadies around the 147 level this afternoon:
Australian stocks were again on the back foot, with the ASX200 closing 0.3% lower at 8807 points while the Australian dollar has continued its breakthrough the 65 cent level against USD:
S&P and Eurostoxx futures are flat going into the London session with the S&P500 four hourly chart showing the market still rebounding from its extremely oversold position after last Friday night’s rout but starting to stall here:
The economic calendar continues tonight with a light schedule, mainly Canadian releases including the July unemployment print.
Dick Smith wants veracity from Australian journalists………
