Its a very mixed session for Asian share markets given the lack of a strong lead from Wall Street overnight with the lower USD and volatile bond markets not providing guidance either in the absence of major economic prints. That could change tonight with the latest ISM services PMI but the USD is largely unchanged although the Australian dollar has taken a deep dive into a new weekly low, breaking below the 65 cent level.
Oil prices are trying to claw back recent losses but Brent crude is stalled just above the $82USD per barrel level while gold is still building higher, advancing above the $2100USD per ounce level as it obliterates any resistance:
Mainland and offshore Chinese share markets are again bifurcating in risk with the Shanghai Composite up just 0.3% while the Hang Seng has plunged more than 2% lower to 16176 points. Japanese stock markets are relatively stable after their big run up with the Nikkei 225 closing flat at 40097 points while the USDJPY pair has squeezed up above the mid 150 level but still not going anywhere:
Australian stocks were unable to move higher again with the ASX200 down 0.1% or so closing at 7724 points while the Australian dollar has taken a deep dive this afternoon, now crossing below the 65 cent level and making a new weekly low:
S&P and Eurostoxx futures are dropping back as we go into the London session with the S&P500 four hourly chart showing price action potentially crossing below the 5100 point level:
The economic calendar will focus on the release of the latest US ISM services PMI later tonight.