Asian share markets are green across the board in a very quiet session as macro news is dominated by Trump getting played by Putin over the weekend while his regime tries to bully India and China with little result. The moves to watch this week will be the Jackson Hole conference on Friday with Fed Chair Powell expected to make some comments regarding the actual trajectory of the US economy before he gets fired for speaking the truth. The USD is still losing ground against the majors as Euro tries to hold at the 1.17 handle while the Australian dollar has steadied nicely at the 65 cent level.
Oil markets are still depressed with Brent crude stuck at the $66USD per barrel level while gold is trying to get out of its own depression as it finds some small bids to get back above the $3350USD per ounce level:
Mainland Chinese share markets are pushing higher going into the close with the Shanghai Composite up more than 0.8% to cross above the 3700 point level while the Hang Seng Index is barely moving, up just 0.2% to stay above the 25000 point level. Japanese stock markets are following through on their Friday session rebound on the GDP print with the Nikkei 225 up more than 0.7% to 43688 points with the USDPY pair holding steady over the weekend gap at the 147 level this afternoon:
Australian stocks lifted slightly with the ASX200 up just 0.2% to 8959 points while the Australian dollar has edged back above the 65 cent level against USD after a mid week reversal around this point of control:
S&P and Eurostoxx futures are stable going into the London session with the S&P500 four hourly chart showing the market wanting to continue its rebound and return to the previous highs but momentum has stalled here in the short term:
The economic calendar starts the trading week in a quiet manner with a few short dated Treasury auctions.