Action in Japanese bond markets dominate risk taking across Asia with stock markets having mixed sessions after Wall Street stabilised overnight, with Japanese shares launching higher. The USD pulled back against most of the undollars after a big surge overnight on the release of the FOMC minutes which indicated the December rate cut may not be on the table.
Oil markets are slowly pulling back again with Brent crude drifting down to the $63USD per barrel level while gold is stabilising around the $4000USD per ounce level:
Mainland Chinese share markets are the odd ones out with the Shanghai Composite down 0.3% to 3934 points while the Hang Seng Index is down more than 0.2%, currently at 25775 points. Japanese stock markets have soared higher on the new stimulus package with the Nikkei 225 up nearly 3% to 49897 points while the USDPY pair has lifted straight through the 157 handle:
Australian stocks had a solid session with the ASX200 eventually closing 1.2% higher at 8552 points while the Australian dollar has also bounced back to get just below the 65 cent level against USD:
S&P and Eurostoxx futures are lifting as they try to stabilise going into the London session with the S&P500 four hourly chart showing the market wanting to get back above previous support at the 6700 point level:
The economic calendar includes the September non-farm payrolls print – maybe? – plus initial jobless claims and existing home sales.