See the latest Australian dollar analysis here:
Asian share markets have started the week on a mixed note, continuing the confused Friday session as risk markets await the latest from the tanker attacks in the Gulf and the upcoming FOMC Meeting on Wednesday.
Chinese share markets rebounded following their poor showing on Friday with the Shanghai Composite lifting nearly 0.3%, almost back above the 2900 point barrier, while the Hang Seng Index stopped its retreat, bouncing 0.7% higher to 27332 points. The daily chart is stabilising somewhat here in the wake of the huge protests outside the exchange, but caution still reigns:
Japanese share markets put in more scratch sessions, with the Nikkei 225 failing to change at all, closing 0.04% higher to close at 21124 points. This is despite a weaker Yen throughout todays’s session with the USJDPY pair lifting above the mid 108’s and ready to tackle two week long resistance overhead nearer the 109 handle:
The ASX200 slid back today despite a positive trend in back stocks, with industrials pushing the bourse 0.3% lower to 6530 points. The Australian dollar remains under the 69 handle following its big selloff on Friday night, gapping up only slightly before melting in the afternoon session, hovering just above the monthly/yearly lows:
S&P and Eurostoxx futures are up about 0.2 to 0.3% going into the European open with the four hourly chart of the S&P500 chart wanting to get above strong resistance at the psychologically important 2900 point level going into this weeks FOMC meeting where everyone is hoping for more puts!
The economic calendar starts the week slowly with some Treasury auctions, followed by a speech by Super Mario in Portugal.