See the latest Australian dollar analysis here:
Mixed conditions across Asian stocks markets today with Chinese markets absorbing the trifecta of economic prints without much fuss while Japanese bourses advanced on a selloff in Yen. The Australian dollar still wants to move higher almost breaking through 72 cents and a new weekly high.
The Shanghai Composite has floated along to close only a handful of points higher at 3262 points, while the Hang Seng Index is also treading water, losing a couple of points to close lower at 30117 points, still hovering around a steady state of daily highs above the 30,000 point level:
US and Eurostoxx futures are down about 0.2%, with the four hourly chart of the S&P 500 still wanting to advance further on the new high established on Friday above the 2900 points level with trailing ATR support slowly ratcheting higher and being respected:
Japanese stock markets were better due to a momentary selloff in Yen with the Nikkei 225 lifting 0.25% higher to finish at 22277 points. The USDJPY pair broke through the 112 handle on a fakeout breakout before reverting back to its three day tight trading range:
Australian stocks did poorly on the absorption of the Chinese risk and the higher Australian dollar with the ASX200 closing 0.4% lower to 6256 points. The Australian dollar also had a breakout that couldn’t stick, breaching the 72 handle before sellers stepped in, as is pretty obvious on the four hourly chart. It’s still elevated and well supported by momentum here so we could see another trigger higher tonight :
The economic calendar includes the UK and Canadian CPI prints for March, trade balance figures from the EZ and USA, plus three central bank speeches in Europe and the US. A busy one!