Asian share markets are having some good positive sessions to end a quite volatile trading week but other risk markets also reducing in volatility again today. Yen is weakening again to alleviate some pressure on Japanese equities but could be shortlived as the Australian dollar also fails to get back above the 66 cent level.
Oil prices are holding on to their modest overnight breakout with Brent crude remaining just above the $78USD per barrel level while gold is trying to hold on to its recent advance back above the $2400USD per ounce level as momentum remains positive but not yet overbought:
Mainland Chinese share markets have asborbed the latest inflation print but the Shanghai Composite looks to be closing flat while the Hang Seng Index is up more than 1.3% to 17115 points. Meanwhile Japanese stock markets are reducing in volatility but still putting in modest returns with the Nikkei 225 up more than 0.5% to 35025 points while the USDJPY pair has pulled back from its overnight breakout to be just above the 146 handle:
Australian stocks are pushing higher with the ASX200 putting in a solid 1.2% gain to close at 7777 points while the Australian dollar is trying to double down on its recent small breakout this afternoon but just can’t clear the 66 cent level:
S&P and Eurostoxx futures are up slightly going into the London session with the S&P500 four hourly chart showing some stability returning to the major index as a dead cat bounce pattern is not yet completed:
The economic calendar tonight finishes the trading week softly with the latest German inflation print.