See the latest Australian dollar analysis here:
Yet another green day across risk markets here in Asia as all the hand wringing over the US “election” has come to naught, with all traders hitting the buy button, regardless of the outcome. Gold has been unable to hold on to its recent swing through the $1900USD per ounce level after a retracement in the midst of the election volatility and looks like setting up for another breakout above $1910 or so:
The Shanghai Composite is surging towards the close, up 1.2% to be above 3300 points while in Hong Kong the Hang Seng Index is the best in the region, up 2.7% to 25556 points. Japanese stock markets aren’t doing too bad either, with the Nikkei 225 closing 1.7% higher at 24105 points while trading in the USDJPY pair has seen a large selloff in USD after the big ride yesterday, almost making a new weekly low at the 104.40 level:
The ASX200 has not escaped the upside volatility with a nice finish, closing 1.3% higher at 6139 points while the Australian dollar has solidified its gains, almost back above the 72 handle as USD selling abates somewhat:
Eurostoxx and S&P futures surged earlier but are retracing slightly going into the European open with the four hourly chart of the S&P possibly showing an exhaustion developing here as we all await for the counting to finally finish in the contested US election:
The economic calendar is Euro-centric tonight (no, wait the UK isn’t European anymore) with the BOE meeting and EU retail sales.