See the latest Australian dollar analysis here:
A sea of green across Asian share markets to finish the week in a mood of optimism as more “talks” about the trade war between US and China scare away the short sellers. Gold has hung on despite a big inversion overnight while USD has risen against Yen and Yuan, with the Australian dollar still holding above 68 cents.
The Shanghai Composite is trickling along, only up a handful of points where it looks like closing the week just shy of the 3000 point barrier while the Hang Seng Index has put in a solid 0.5% rise to 26672 points to claw back yesterday’s losses:
Japanese share markets are up a simialr amount as Yen continues to sell off with the Nikkei 225 currently up 0.5% at 21211 points making another new daily high. The USDJPY pair has popped above the 107 handle after getting through long held resistance at the 106.60 level as momentum picks up on the four hourly chart:
The ASX200 continues its own solid run, also up 0.5% to be at 6646 points despite a still strong Australian dollar – and the overall macro conditions. The Aussie is holding here just above the 68 handle as traders await tonight’s NFP print to see if the USD remains strong:
S&P and Eurostoxx futures are building already in response to the firm moves here in Asia with the S&P500 four hourly chart showing price wanting to get back to the previous highs at 3000 points after recently breaking through the 2940 point resistance level :
The economic calendar finishes the week with the big one on the calendar – US unemployment – which should set the tone for the rest of the month!