See the latest Australian dollar analysis here:
A bath of share price blood here in Asia today with a big selloff across the region following Wall Street’s falls on Friday. The typical safe havens like Yen and gold have not spiked, given they made most of their gains previously, while oil prices have gained slightly from their overshoot.
The Shanghai Composite finally returned, and in epic style, selling off 8% or 200 points lower to 2739 points! The Hang Seng Index is the only market in the region with a positive result., but only just – up 0.1% to 26354 points, still keeping prices somewhere near the December level:
Japanese share markets were the best relative performers, losing only 1% or so, with the Nikkei 225 closing at 22973 points, still poised here to make a new monthly low. The USDJPY pair gapped a little higher on the typical Monday morning open but has lost most of this to remain in the mid 108s:
The ASX200 fell 1.3% in sympathy with other markets and as expected, closing well under 7000 at 6923 points. The Australian dollar is remarkably steady, stuck right on the 67 handle and poised to break either way going into tomorrows RBA meeting:
Eurostoxx and S&P futures are up slightly despite the Asian selloff , but the four hourly chart of the S&P500 still shows the market is depressed here and potentially ready to crack again:
The economic calendar starts the week with the US ISM Manufacturing print for January.