Asian share markets are having a much better start to the trading week although Japanese markets are closed for yet another holiday as Bitcoin and other crypto currencies are seeing big bids. Yen was relatively steady against USD as expected while Euro is climbing again as the Australian dollar holds firm above the 65 cent level in afternoon trade until tomorrow when the RBA is expected to cut rates again.
Oil markets sold off all last week but are decelerating coming out of this weekend with Brent crude trying to hold around the $66USD per barrel level while gold has gapped lower over the weekend to give up its Friday night gains, as it failed to breach the $3400USD per ounce level:
Mainland Chinese share markets are rising swiftly going into the close with the Shanghai Composite pushing well above the 3600 point level while the Hang Seng Index is treading water as it fails to get back above 25000 points. Japanese stock markets are closed for a holiday while trading in the USDPY pair has seen not much interest as it tries to steady around the 147 level this afternoon:
Australian stocks were able to make some steady gains, with the ASX200 lifting 0.3% higher to 8832 points while the Australian dollar has held on above the 65 cent level against USD as we await the RBA:
S&P and Eurostoxx futures are rising slightly going into the London session with the S&P500 four hourly chart showing the market still rebounding from its extremely oversold position at the start of the month but wanting to lift further here:
The economic calendar is very quiet tonight with the big one to watch being the August RBA meeting tomorrow.