Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

01.03.24 Macro Afternoon

Published 01/03/2024, 06:30 pm
Updated 09/07/2023, 08:32 pm

Its green across the board for Asian share markets due to the strong lead from Wall Street overnight with a new month getting the bids going while Japanese stocks close at fresh record highs. The USD is still firming from the overnight inflation print although the Australian dollar has found some life later in the afternoon.

Oil prices are trying to claw back recent losses but Brent crude is stalled just above the $82USD per barrel level while gold is slowly building higher, advancing above the $2040USD per ounce level as it pushes aside short term resistance:

 
XAU/USD

Mainland and offshore Chinese share markets are having somewhat of a breather with the Shanghai Composite up just 0.3% while the Hang Seng is barely moving higher at 16532 points. Japanese stock markets are the front runners with the Nikkei 225 up 2% to almost push through the 40000 point level while the USDJPY pair has broken out above the 150 handle on the strong USD:

USD/JPY

Australian stocks are moving higher as well with the ASX200 up more than 0.6% to break the 7700 point level, closing at 7745 points while the Australian dollar has tried to rebound this afternoon, just making it above the 65 cent level:

AUD/USD

S&P and Eurostoxx futures are looking positive as we go into the London session with the S&P500 four hourly chart showing price action about to cross the 5100 point level:

The economic calendar ramps up again with Euro core inflation and the latest US ISM manufacturing PMI print.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.