See the latest Australian dollar analysis here:
It’s all guns blazing, bulls let loose in China shops – well, except China – as Asian stock markets are buoyed by the overnight lift on Wall Street with record highs and new yearly highs the order of the day.
Chinese stocks are still struggling to make gains despite the rest of the region with the Shanghai Composite lifting at the open but now squaring off going into the close, still below the 3100 points level, while the Hang Seng Index is also putting in a scratch session currently at 28870 points:
Japanese share markets are finally making headway with the Nikkei 225 up around 0.4% going into the close, currently at 24045 points. The USDJPY pair is pushing above the 110 handle and well above its previous 2019 highs:
The ASX200 is putting in another record high for a stellar finish to the trading week, currently up 0.5% going into the close at 7074 points. A lower Aussie dollar has helped where it has now dropped below the 69 handle as traders await both the fallout from the US/China trade deal and next month’s RBA meeting:
Both S&P and Eurostoxx futures are suggesting yet another breakout to new highs, with the four hourly chart of the S&P500 already overbought but still wanting to get moving, but I’m still wary of European bourses:
The economic calendar ends the week with two major releases, the EZ wide CPI print for December plus the latest Uni of Michigan consumer sentiment survey.