See the latest Australian dollar analysis here:
Asian share markets responded in kind to the poor mood on Wall Street overnight with the focus on rising tensions in Hong Kong and global trade concerns to blame. Locally the unemployment rate ticked higher leading to a fall in the Australian dollar while the PBOC kept the Yuan largely unchanged.
Chinese share markets diverged today with the Shanghai Composite holding steady to remain just abovee the 2900 point barrier, while the Hang Seng Index continues its retreat as protests rage on the streets outside, falling another 0.6% to 27129 points. The daily chart is showing price wanting to retest the former lows but there is some internal buying support holding on:
Japanese share markets are deflating now after a spate of scratch sessions with the Nikkei 225 falling over 0.5% to close at 21032 points. Part of this is due to the strength in Yen with the USJDPY pair melting lower after rejecting overhead resistance and falling towards the 108 handle:
The ASX200 was the best performer, only falling a handful of points to close at 6542 points, absorbing the unemployment print, which sent the Australian dollar flopping straight down to the 69 handle, making a two week low:
S&P and Eurostoxx futures have fallen about 0.3% with the four hourly chart of the S&P500 chart still rejecting strong resistance at the psychologically important 2900 point level as it slowly melts towards tentative daily support at 2870 points:
The economic calendar includes a slew of second rate and second tier prints tonight with most of the focus on the next round of voting for the new Tory PM, with Trump-lite Boris Johnson likely to prevail. God help the Mother Country…