Asia Pacific markets drifted lower after a negative close in US equities yesterday. The Nikkei 225 was the biggest loser, falling to its lowest level in three months, off by more than 1.5% on the session. The S&P/ASX 200 index and the Shanghai SE composite were lower by 1.6% and 1.2% respectively.
Gold prices continue to fall, dipping as low as $1182.35, late in the Asian session. The metal has pulled back more than 5% off its' May 14th high at $1249.40, and is approaching our entry points around the 50% Fibonacci extension taken from the Dec 3rd and May 14th crests, at $1160. Crude oil is softer after rallying nearly 5% off of yesterday's five month lows, just above the $68 figure, but remains heavy on continued dollar strength.
