Asian stock markets are still putting in very mixed sessions, which is not surprising given the continuining poor lead from Wall Street overnight and also the lack of economic catalysts for risk markets to go on. Futures are indicating a flat or lower start for European stocks which are likely to be muted again although the economic calendar. The USD remains strong against all the undollars but gold as the Australian dollar fails to get back above the 67 cent level.
Oil futures are stabilising as Brent crude lifted back towards the $76USD per barrel level overnight while gold is making another record high extending above the $2750USD per ounce level as the daily chart shows the current trajectory:
Mainland Chinese share markets are higher going into the close with the Shanghai Composite up 0.4% to almost cross the 3300 point level while the Hang Seng Index is up more than 1% to 20457 points. Meanwhile Japanese stock markets are pulling back again on BOJ concerns with the Nikkei 225 down more than 0.8% to 38104 points while the USDPY pair is pushing further above the 152 handle:
Australian stocks finished on a flat note as the ASX200 closed just 0.1% higher at 8216 points while the Australian dollar has failed to lift back above the 67 cent level following the weekend gap and the recent PBOC rate cut:
S&P and Eurostoxx futures are flat going into the London session with the S&P500 four hourly chart showing momentum still in positive settings with price action not yet pushing above the 5900 point zone with authority:
The economic calendar is sparse of main releases tonight but there’s a slew of central bank speakers to watch out for.