Silver took a nose dive as the Trump regime enacted a critical minerals directive plus tariffs on semiconductors amid more national security beat-ups while still promising an attack on Iran keeping other risk markets in check. The USD remains somewhat firm due to safe haven bids while the oil price has been beaten back slightly. The Australian dollar is failing to get back above the 67 cent level amid reduced FX volatility.
Oil markets are seeing a small reversal with Brent crude pulled back to the $63USD per barrel level while gold has failed to hold above the $4600USD per ounce level:
Mainland Chinese share markets have fallen back with a poor afternoon session with the Shanghai Composite down more than 0.6% while the Hang Seng Index is off about the same at 26852 points. Japanese stock markets are finally pulling back after being bid strongly all week with the Nikkei 225 down nearly 0.9% to retreat below the 54000 point level while Yen is stabilising for once, with the USDPY pair steady at the mid 158 level:
Australian stocks were the best performers in the region with the ASX200 lifting more than 0.4% to 8858 points while the Australian dollar is failing to bounce back as it faces short term resistance at the 67 cent level and looks anchored at support just below:
S&P futures are failing to make headway given the poor overnight with the S&P500 four hourly chart failing to get up towards the 7000 point level and potentially rolling over here:
The economic calendar includes both UK and German GDP prints tonight with US initial jobless claims later.