Asian share markets are generally doing better although local shares are falling back on probable profit taking as other risk markets sentiment remains neutral going into tonight’s Jackson Hole conference. The USD is pushing slightly higher against the majors with Euro breaking below the 1.16 handle while the Australian dollar remains very weak at its July lows just above the 64 cent level.
Oil markets are still depressed although Brent crude was able to cross above the $67USD per barrel level while gold is trying to get out of its own depression but is not finding many bids to remain stuck at the $3330USD per ounce level:
Mainland Chinese share markets are surging going into the close with the Shanghai Composite pushing through the 3800 point level while the Hang Seng Index is up 0.5% as it bounces off the 25000 point level. Japanese stock markets are mixed with the Nikkei 225 off by just 0.1% at 42580 points with the USDPY pair has held on to its largish overnight gains to extend above the mid 148 level this afternoon:
Australian stocks were again the odd ones out in the region but this time to the downside on profit taking with the ASX200 closing some 0.6% lower to retrace back below the 9000 point level while the Australian dollar is sitting right on the 64 handle back to match the July lows:
S&P futures and Eurostoxx futures are down slightly going into the London session with the S&P500 four hourly chart showing the market almost rolling over after failing to continue its rebound as momentum dives into negative territory:
The economic calendar finishes the week with the long awaited Jackson Hole central bank conference tonight with an expected speech by Fed Chair Powell.