A sea of green across Asian share markets as we head into the low volume Christmas period with a solid finish on Wall Street on Friday night flowing through to the regions risk markets overall. The Australian dollar is bouncing back on a slightly weaker USD with a breakout above the 66 cent level.
Oil markets remain unstable with Brent crude remaining around the $60USD per barrel level while gold has broken out above the $4400USD per ounce level as upside momentum builds amid low volume trading:
Mainland Chinese share markets are seeing a solid bid in afternoon trade with the Shanghai Composite up 0.6% to cross back above 3900 points while the Hang Seng Index has lifted just 0.1% to 25718 points. Japanese stock markets are the biggest winners on the weaker Yen with the Nikkei 225 up 1.8% to 50425 points with the USDPY pair staying above the 156 level:
Australian stocks are doing very well in afternoon trade with the ASX200 closing 0.9% higher to 8699 points while the Australian dollar was again threatening to move below the 66 cent level against USD but has found some life:
S&P and Eurostoxx futures are wanting to move higher after recent volatility with the S&P500 four hourly chart showing support at the 6800 key level firming up to launch higher:
The economic calendar starts the week quietly with a few Treasury auctions.