See the latest Australian dollar analysis here:
Stocks markets are mixed across the region despite the falls on Wall Street and in Europe overnight, as concerns over COVID (at least on the continent, not the colonists) outweigh risk sentiment. There’s been a continued retreat to safe havens like USD, Yen and gold – and Bitcoin – with the non-useless shiny metal slowly inching above the $1900USD per ounce level as it tries to bounce off its medium term uptrend:
The Shanghai Composite is finally putting runs on the board, up 0.4% to 3260 points while in Hong Kong the Hang Seng Index is continuing its retracement, down 0.3% to 24729 points. Japanese stock markets are accelerating their own selloff, with the Nikkei 225 closing nearly 0.5% lower at 23374 points as the USDJPY pair hastens its retreat on the back of Yen safe haven buying:
The ASX200 is stabilising here after today’s CPI print, finishing 0.1% higher to 6057 points, while the Australian dollar has firmed up to its Friday night high at the 71.40 level with the four hourly chart broadcasting a possible breakout above that level going into the London open:
Eurostoxx and S&P futures are sliding back with talk about more shutdowns – particularly Germany and France – weighing again. The four hourly chart of the S&P shows a continued decline as this short term retracement gains momentum going into next week’s election (thank fricken Dog below its almost over…hahahahh):
The economic calendar is relatively quiet tonight with a private crude oil change dataset plus some trade goods figures from the US.