Asian share markets have paused their recent strong rebound on the Trump TACO trade as not much news around the traps keeping most risk markets in a holding pattern. Currency markets are seeing more strength return to the USD which has been taking back its recent lost ground against the majors with some moves higher against Yen while the Australian dollar is trying hard to extend above the 65 cent level.
Oil markets are still depressed with Brent crude blipping slightly above the $61USD per barrel level while gold has tried to fightback after its near 6% one day loss overnight, holding at the $4140USD per ounce level:
Mainland Chinese share markets are oscillating around their opening bid with the Shanghai Composite down slightly at 3906 points while the Hang Seng Index is off by more than 1% at 25751 points, taking back some of their recent gains. Japanese stock markets are also treading water with the Nikkei 225 up slightly at 49341 points with the USDPY pair well above the 151 level:
Australian stocks pulled back due to the slump in gold, with the ASX200 closing some 0.7% lower at 9030 points while the Australian dollar has come back slightly after finding resistance above the 65 cent level against USD as it fails to make new highs:
S&P and Eurostoxx futures are heading slightly higher as we head into the London session with the S&P500 four hourly chart showing the market wanting to get back on track after the slump from the previous Friday session, as the TACO trade rebounds:
The economic calendar includes the latest UK inflation figures, then private oil data from the US.