Wall Street futures fell sharply alongside the USD (and Bitcoin) while gold and undollars rose on the weekend tariff orders from the Trump regime, with the Europeans playing hardball. Asian share markets are all in the red given the risk off mood with the latest Chinese economic figures (and more importantly – population figures – more below) coming in on target as expected (or massaged) only giving mainland Chinese markets some stability. Oil prices remain in flux with the Iranian situation while the Australian dollar bounced off support at the 67 cent level.
Oil markets are still quite stable with Brent crude steady just above the $64USD per barrel level while gold has held above its weekend gap higher to almost crack the $4700USD per ounce level:
Mainland Chinese share markets are down slightly in the afternoon session with the Shanghai Composite losing 0.3% to stay just above the 4100 point level while the Hang Seng Index is steady at 26550 points. Japanese stock markets are also in retreat with the Nikkei 225 down more than 1% to actually cracking the 53000 point level while Yen is steady against USD in the wake of the election call with the USDPY pair just below the 158 level:
Australian stocks are not doing well either with the ASX200 down 0.7% to 8812 points while the Australian dollar is bouncing back to extend above the 67 cent level after being anchored at support below:
S&P futures are unsteady but look like sending Wall Street down at least 1% after the long weekend, with the S&P500 four hourly chart still unable to get up towards the 7000 point level and potentially rolling over here as the rising wedge pattern completes:
The economic calendar includes UK unemployment then the closely watched German ZEW Survey.