A steady session for Asian share markets as Wall Street braces for the latest consumer confidence numbers tonight after a major revision in last month’s NFP job print, with bets of a Fed rate rise tightening to a sooner possibility. 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 stays above the 67 cent level.
Oil prices are losing further short term momentum as Brent crude retreats below the $75USD per barrel level while gold is holding on to its breakout above the $2500USD per ounce level:
Mainland Chinese share markets pushed lower again with the Shanghai Composite down 0.3% while the Hang Seng Index had another boost out of the blue, closing more than 1.2% higher to 17602 points. Meanwhile Japanese stock markets are also lifting despite continued Yen volatility with the Nikkei 225 closing 0.8% higher to 38211 points while trading in USDPY has seen some stability but its all relative as it hovers near the 145 level:
Australian stocks eked out another small gain with the ASX200 lifting 0.2% to extend above the 8000 point level while the Australian dollar was able to hold on to its move above the 67 cent level in a quiet session:
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 have a slew of flash manufacturing and services PMI surveys released across both sides of the Atlantic tonight, plus the latest ECB minutes and US flash consumer confidence numbers.