Asian share markets are still in mixed conditions without any large economic catalysts and some lower volumes going into the Easter break. Last night’s solid lead from Wall Street has helped local stocks as the USD and bond yields continue their see-saw inversion. The still relatively high USD continues to weigh on the Australian dollar which remains depressed just above the 65 handle.
Oil prices are trying to get back to their recent breakout highs but while Brent crude remains well above weekly resistance, its struggling to get past the $86USD per barrel level while gold continues to regain strength to move up to the $2190 level:
Mainland and offshore Chinese share markets are trying again to make a comeback with the Shanghai Composite lifting up through the 3000 point level while the Hang Seng has taken back the previous losses, currently up 1.4% at 16621 points. Japanese stock markets have gone the other way however, with the Nikkei 225 closing 1.3% lower at 40168 points while the USDJPY pair continues to hold steady above the 151 level:
Australian stocks were some of the best performers with the ASX200 closing nearly 1% higher at 7896 points while the Australian dollar is just holding on above the 65 cent level after last week’s volatility:
S&P and Eurostoxx futures are trying to get back to their Friday night highs as we head into the London session with the S&P500 four hourly chart showing price action pushing back up above the 5300 point level with short term support still not yet under threat:
The economic calendar gets a bit busier tonight with UK GDP, German unemployment and US consumer sentiment.