See the latest Australian dollar analysis here:
A steady as you go session across Asian risk markets today as traders await the return of the US from its long weekend. Locally, all eyes were on the RBA which failed to act, keeping interest rates steady and arresting the terminal dive in the Pacific Peso, while the Chinese Yuan was again fixed lower against USD.
The Shanghai Composite looks set to close with a scratch session, down 0.2% but still just above the 2900 point level at 2918 while the Hang Seng Index fell 0.4% to 25525 points. Pressure is continues to build here as price remains below the low moving average on the daily chart, still anchored nearer the terminal low just below 25000 points:
Japanese share markets have put in scratch sessions as Yen remained firm, but steady with the Nikkei 225 closing a handful of points higher at 20625 points. The USDJPY pair is forming a tight band, remaining just above the 106 handle and still below the previous Friday session lows:
The ASX200 also put in nothing result, falling 6 points to close at 6573 points with no support from the RBA today. The Australian dollar went into a steep dive after the retail figures were published this morning, breaking well below the 67 handle before coming back as the RBA held this afternoon, but there is so far no threat to the overall downtrend:
S&P and Eurostoxx futures are down 0.1% or so as confidence remains elusive. with the S&P500 four hourly chart still showing price unable to make a break for it above the 2940 point resistance level:
The economic calendar ramps up tonight with the latest ISM Manufacturing print from the US plus a few Federal Reserve key member speeches to watch out for.