Asian share markets pivoted around inflation prints and other macro news as the chaos from Davos dies down although the TACO trade remains in play. The USD remains under pressure against almost all major undollars particularly antipodean with the Australian dollar pushing through resistance to head above the 68 cent level while bond market stress in Japan is keeping a focus on Yen valuations.
Brent crude is easing to just above the $64USD per barrel level while gold is on track to hit another new historic high as the $5000USD per ounce level comes into sight:
Mainland Chinese share markets are up slightly in the afternoon session with the Shanghai Composite pushing 0.3% higher to remain above the 4100 point level while the Hang Seng Index is up more than 0.6% to almost crack the 27000 point level. Japanese stock markets have continued their bounceback with the Nikkei 225 up 04% to almost get back above the 54000 point level while Yen is losing ground against USD with the USDPY pair lifting well above the 158 level in what looks like a short term breakout:
Australian stocks are not doing so well with the ASX200 up just 0.1% to 8861 points while the Australian dollar extending above the 68 handle:
S&P futures are lifting slightly higher with the S&P500 four hourly chart showing a continued bounce off support at the 6800 point level but is this a dead cat bounce or a return to the recent highs:
The economic calendar concludes the trading week after a series of eye openers at Davos with a whimper, just some flash PMI prints from the US.