See the latest Australian dollar analysis here:
The return of Japanese traders and a still upbeat Wall Street saw most Asian stock markets advance, with the major macro event being the RBNZ holding their cash rate and the New Hampshire primary in the USA. Gold is slipping while Bitcoin breached $10K again, with Yen buying moderating and helping buoy the re-opening of Japanese stock markets.
The Shanghai Composite is up 0.65% after the long lunch break, advancing past the 2900 point barrier to be currently at 2920 points. Meanwhile the Hang Seng Index has pushed higher after its own previous big advance, up 1% to 27854 points. Price broke out above the high moving average level and is barrelling in on the 28000 point level where its sure to find resistance, with momentum still not yet positive on the daily chart:
Japanese share markets reopened with the Nikkei 225 lifting 0.5% to 23800 points even, not helped nor hindered by a steady trade in Yen, with the USDJPY pair remaining just below the 110 level. A minor breakout overnight above the high moving average went nowhere and the tight band of trading is setting up for more breakouts – or downs – soon:
The ASX200 had another solid session, this time moving 0.5% higher to 7088 points, despite a higher Australian dollar that continues to bounce off oversold levels and remains above the 67 handle – but for how long:
Eurostoxx and S&P futures are up slightly with the good mood translating to some gains later tonight. The four hourly chart of the S&P500 shows price bunching up at the 3370 point level, geting ready for another breakout and yet another new record high:
The economic calendar includes Fed chair Powell testifiying before the broken US Senate, then the latest DOE oil inventory report.