See the latest Australian dollar analysis here:
The selloffs continue here in Asia following the rout on European markets overnight, with the late fill on Wall Street not extending throughout the risk complex as USD firms. Gold is not holding on any longer, ready to break below the $1900USD per ounce level as it fails to regain above previous support:
In mainland China, the Shanghai Composite is selling off sharply again, down nearly 1.5% to 3273 points while in Hong Kong the Hang Seng Index is off by nearly 1% to 23728 points. Japanese stock markets remained closed for yet another holiday while the USDJPY pair exhibits the first dead cat bounce, heading back towards the mid 104’s and still in selloff mode:
The ASX200 was the best in the region – only because it dropped the least – down 0.6% to 5784 points, now off by more than 14% for the year while the Australian dollar is breaking below its previous session lows, now below the 72 handle as USD firms going into tonight’s session:
Eurostoxx futures are playing catchup after the dreadful falls last night, up around 0.7% or so but S&P futures are down nearly 0.3% with the S&P500 four hourly chart looking like a classical dead cat bounce here as the 3300 point psychological level remains too far away::
The economic calendar is relatively quiet again tonight with US existing home sales data the only print of note.