Asian share markets are flat or slightly down across the board in another very quiet session as macro news remains dominated by the farcical White House talks between Europe, Ukraine and the Trump regime. 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 trying to claw back lost ground against the majors as Euro fails to hold at the 1.17 handle while the Australian dollar has retraced back below 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 $3330USD per ounce level:
Mainland Chinese share markets are flat going into the close with the Shanghai Composite to stay just above the 3700 point level while the Hang Seng Index is down 0.2% to stay slightly above the 25000 point level. Japanese stock markets are also treading water with the Nikkei 225 basically unchanged at 43623 points with the USDPY pair holding steady over the weekend gap at the 147 level this afternoon:
Australian stocks were the worst in the region with the ASX200 losing 0.7% to close at 8896 points while the Australian dollar has slipped further below the 65 cent level against USD after a mid week reversal around this point of control:
S&P futures are flat while Eurostoxx futures are up just 0.2% 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 continues with the latest Canadian inflation figures, then US housing starts.