Asian share markets are doing a better job in finishing the trading week with mostly positive returns as the USD strength eases off slightly. The latest Chinese PMI readings missed estimates while locally both the Aussie and Kiwi Dollar are doing well.
Oil prices are trying to stabilise with Brent crude still hovering just below the $83USD per barrel level while gold is holding very strongly above the $2000USD per ounce level still shoring up short term support:
Mainland Chinese share markets are back in the green near the close with the Shanghai Composite up 0.2% at 3026 points while in Hong Kong the Hang Seng Index is barely in the green after two solid losing sessions, still holding at 17024 points. Japanese stock markets are also treading water with the Nikkei 225 steady at 33345 points while the USDJPY pair is continuing its rollover to almost break below the 147 level:
Australian stocks were the best performers in the region with the ASX200 up more than 0.5%, currently well above the 7000 point support level at 7072 points while the Australian dollar has continued to hold above the 66 cent level with a minor consolidation:
S&P and Eurostoxx futures are steady going into the London open as the S&P500 four hourly chart shows support continuing to firm at the 4500 point level where price action is likely to test in tonight’s session, following a series of large steps following the recent rebound above the 4300 point level:
The economic calendar finishes the trading week with a stacked session, including German unemployment, Euro inflation, US PCE and initial jobless claims.