Asian share markets are generally higher but all the activity has been localised here on a very hot CPI print that has all but guaranteed an interest rate rise at the RBA February meeting. This kept the Australian dollar elevated but that’s more about the “Sell America” trend as all undollars are dumping the “King” of currencies, although Yen had some stability in today’s session.
Brent crude is breaking out above the $66USD per barrel level while gold is on fire as it bursts through the $5200USD per ounce level in a blowout!
Mainland Chinese share markets are up in the afternoon session with the Shanghai Composite pushing 0.5% higher to remain well above the 4100 point level while the Hang Seng Index is up more than 2% as it pushes through resistance to make a new high. Japanese stock markets are the odd ones out with the Nikkei 225 down 0.5% to stay just above the 53000 point level while Yen is trying to stabilise after USD sold off sharply with the USDPY pair bouncing around the 152 level:
Australian stocks were doing well until the hot CPI print with the ASX200 closing 0.1% lower to 8933 points while the Australian dollar is holding just below the 70 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 with a return to the recent highs:
The economic calendar includes the latest German consumer confidence print, the Bank of Canada interest rate meeting and then the Fed meeting.