See the latest Australian dollar analysis here:
Despite the mixed lead from Wall Street overnight, sentiment has risen here in Asia with more positive comments surrounding Chinese trade talks as the G20 approaches.
The Shanghai Composite has bounced back to life, up nearly 0.7% and almost over the 3000 point barrier while the Hang Seng Index has advanced much further, closing nearly 1.5% higher to 28596 points. The daily chart is had stabilised after a recent small dip and has now made a high, almost signalling another breakout:
Japanese share markets also advanced as Yen sold off with the Nikkei 225 taking back the two previous poor sessions to finish over 1% higher to 21338 points. The USJDPY pair has now broken through the 108 handle with a big session this morning, reaching the dominant downtrend line (black sloping line) but can it stick going into the G20 meeting:
The ASX200 had a reliatvely poor session, only advancing about 0.3% to close at 6666 points. The Australian dollar is still pushing higher almost reaching the 70 handle as its short term target:
S&P and Eurostoxx futures are both up 0.3% reflecting the positive sentiment from Asian shares with the four hourly chart of the S&P500 chart showing a hesitation to drop below the previous breakout point at 2920 points:
The economic calendar includes the latest German CPI print, plus more home sales data from the US tonight.