See the latest Australian dollar analysis here:
Asian share markets are in a cautious mood today given the political activity in Hong Kong but also the continued fallout from Brexit. With the Chinese CPI print coming in strong as expected the PBOC kept the Yuan largely unchanged while locally, consumer confidence slipped but this hasn’t stopped the ASX200 make another new high as iron ore keeps powering on.
Chinese share markets are taking back their recent advances with the Shanghai Composite down nearly 0.7% to 2909 points, while the Hang Seng Index is finally listening to its own domestic turmoil to drop over 1.6%, currently at 27348 points. The daily chart was looking promising here for the bottom pickers and swingers:
Japanese share markets are in a state of flux with scratch sessions the likely outcome as the Nikkei 225 remains unchanged at 21204 points. 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:
The ASX200 continues its advance but it was much higher at the start of the session, currently up only 0.2% to 6561 points, even as the Australian dollar continues to retreat from the Friday highs to be below the mid 69s as buying support evaporates:
S&P and Eurostoxx futures are not moving around yet with the four hourly chart of the S&P500 chart still showing strong resistance at the psychologically important 2900 point level that needs to be breached soon:
The economic calendar ramps up tonight with two big events – first Super Mario is having a chat in Frankfurt, then its US CPI for May.