See the latest Australian dollar analysis here:
Asian share markets are stronger across the board as easing tensions over trade negotiations are being reflected in rising risk sentiment. The Yuan was set a little stronger today instead of the usual weakening trend while a much higher NAB business confidence print and catch up playing saw local stocks hit a near record high.
Chinese share markets have advanced the most with the Shanghai Composite lifting over 2% to 2923 points, finally back above the key 2900 point resistance level while the Hang Seng Index continues to ignore domestic turmoil to lift nearly 1%, finishing at 27841 points. The daily chart is looking quite promising here for the bottom pickers and swingers:
Japanese share markets advanced again with the Nikkei 225 closing 0.33% higher to 21204 points, helped by some BOJ comments around risk and inflation accommodation and a slightly lower Yen. The USJDPY pair really wants to push higher, still above former key resistance at the mid 108’s, but not yet able to breach trailing ATR resistance nearer the 109 handle, with the low moving average proving a good uncle point from here tonight:
S&P and Eurostoxx futures are up 0.2% or so with the four hourly chart of the S&P500 chart showing resistance building at the psychologically important 2900 point level that needs to be breached soon or confidence will evaporate:
The ASX200 reopened after the long weekend and made a yearly high, soaring over 1% to close at 6546 points, with bank stocks leading the charge. The Australian dollar continues its own little retreat from the Friday highs to be at the mid 69s in what could be called a deceleration pattern, but there’s not much buying support here:
The economic calendar is pretty bare tonight with just a few third tier releases from the UK and not much else.