Not much action across Asian stock markets although offshore Chinese markets are feeling the pinch while mainland shares are unchanged as are the satellite Australian local stocks which have tread water again. The USD is also largely unchanged against the major currency pairs while the Australian dollar is failing to get back above the 63 cent level after recently making a new monthly low.
Oil markets are trying to recover with Brent crude heading slightly above the $72USD per barrel level while gold continues to consolidate just above the $3000USD per ounce level with short term momentum still in a negative funk:
Mainland Chinese share markets are flat in afternoon trade with the Shanghai Composite while the Hang Seng Index has slumped 2%, currently at 23417 points. Japanese stock markets however had some upside with the Nikkei 225 about to close 0.4% higher at 37822 points while the USDPY pair is pushing further above last week’s highs just at the 150 level:
Australian stocks were barely able to make headway yet again with the ASX200 closing just a few points higher at 7946 points while the Australian dollar is kept in its place just below the 63 cent level against the USD:
S&P and Eurostoxx futures are gapping higher as we head into the London session with the S&P500 four hourly chart showing this breakdown may be getting a proper reversal above the 5750 point level:
The economic calendar continues tonight with the German IFO survey and the latest US home sales data.