With the FOMC meeting and latest US jobs report all absorbed, risk markets are wanting to extend their recent rebound with most markets in Asia drifting higher in today’s session. The RBA’s hold helped buoy local spirits while the Australian dollar seemingly had baked in any gains, falling back below the 66 cent level.
Oil prices are trying to stabilise after their recent sharp falls but remain under pressure with Brent crude starting just below the $84USD per barrel level while gold is continuing its struggle, steady above the $2300USD per ounce level this afternoon:
Mainland Chinese share markets saw a slight lift with the Shanghai Composite up 0.2% while the Hang Seng Index slid more than 0.6% to finish at 18463 points. Meanwhile Japanese stock markets reopened from another long weekend with the Nikkei 225 jumping up 1.5% to close at 38835 points with the USDJPY pair also lifting as it tries hard to normalise just above the 154 level:
Australian stocks loved the RBA hold and soared higher with the ASX200 closing 1.4% higher to 7793 points while the Australian dollar crumbled slightly back below the 66 cent level following the decision, after previously matching its previous weekly high:
S&P and Eurostoxx futures are pushing higher as we head into the London session with the S&P500 four hourly chart showing price action wanting to push above the 5200 point level:
The economic calendar is relatively quiet tonight with Euro retail sales the only event of note.