A shaky session for Asian share markets as Wall Street begins to lose momentum before the release of tonight’s FOMC minutes. Equity futures are a bit flat going into tonight’s session with the weak USD still on the backfoot versus Euro and other currencies with the Australian dollar looking a lot stronger as it lifts beyond the 67 cent level.
Oil prices are losing further short term momentum as Brent crude retreats below the $77USD per barrel level while gold is holding on to its breakout above the $2500USD per ounce level:
Mainland Chinese share markets slumped again after recently finding traction with the Shanghai Composite down 0.3% while the Hang Seng Index off even more to close 0.8% lower to 17364 points. Meanwhile Japanese stock markets are struggling on Yen volatility with the Nikkei 225 closing 0.3% lower to 37951 points while trading in USDPY has seen another sharp drop down, this time back to the 145 level:
Australian stocks eked out another small gain with the ASX200 lifting 0.2% to this time close just above the 8000 point level while the Australian dollar was able to hold on to its move above the 67 cent level:
S&P and Eurostoxx futures are barely tracking higher going into the London session with the S&P500 four hourly chart showing momentum is starting to slow here:
The economic calendar will focus squarely on the release of the latest FOMC minutes.