Asian share markets are doing quite well in the final but relatively quiet session of the trading week with the USD falling overnight on the bad but good initial jobless claims showing a soft US labour market helping supporting the risk taking. The Australian dollar has taken back its recent dip following the poor local jobs report and is climbing above the 66 cent level.
Oil markets remain unstable with Brent crude drifting below the $62USD per barrel level while gold is aiming for the $4300USD per ounce level as it gains more upside momentum:
Mainland Chinese share markets are seeing more selling with the Shanghai Composite down more than 0.3% to stay well below the 3900 point level while the Hang Seng Index has launched the other way with a 1% lift almost through the 26000 point level. Japanese stock markets are also seeing a solid bid with the Nikkei 225 up more than 1% at 50659 points with the USDPY pair lifting slightly after finding a base at the 155 level overnight:
Australian stocks are doing very well in afternoon trade as the Santa Rally gets underway with the ASX200 gaining 1% or so to 8689 points while the Australian dollar has returned to its pre Fed meeting level at just above the mid 66 cent level against USD:
S&P and Eurostoxx futures are steady after a mixed session last night with the S&P500 four hourly chart showing how the previous breakout on the Fed rate cut might be followed through depending on a potential Santa rally that outweighs the usual volatility:
The economic calendar concludes the trading week with the