See the latest Australian dollar analysis here:
A bit of drama to keep us traders awake today as yet another Trump nincompoop blurts out the wrong thing, sending futures to the floor before a hasty “I didn’t really mean that” retraction saw risk markets square up again. Currencies moved around as well, while gold fell back slightly as the PBOC pushed the Yuan fix down again today.
In mainland China, the Shanghai Composite was off several points mid trade before coming back with a scratch session to finish at 2965 points while the Hang Seng Index is up 1% to take back most of yesterday’s losses, now at 24760 points, finally gaining some traction out of its sideways trend with positive momentum building:
Japanese share markets were up in a solid session with the Nikkei 225 finishing 0.5% higher to 22549 points while the USDJPY pair finally found some life as volatility returned after a week of going nowhere! Like the other majors, the pair oscillated around the Navarro nonsense before reversing strongly above the 107 handle and looking ready to swing higher going into the City open:
The ASX200 started well enough, up nearly 0.5% at the start of the session before a mild selloff saw it finish barely up at the close, finishing at 5954 points. The Aussie dollar found some early momentum but then whipsawed through the Navarro nonsense before squaring up here just above the 69 handle before the London open, still in a weak position in the medium term:
Eurostoxx futures are up 0.6% or while S&P futures have recovered from the stupid whipsaw earlier. The S&P500 four hourly chart is poised here with price wanting to breakout above the downtrend line from last week’s high: