See the latest Australian dollar analysis here:
Its a day of excitement across risk markets here in Asia following the pause on equity markets on Friday night, absorbing the Biden election victory and the better than expected US jobs figures over the weekend. Gold is surging again after consolidating at the $1950USD per ounce level post last week’s FOMC meeting with a lift through to a new high at $1963:
The Shanghai Composite is rising fast towards the close, up nearly 2% at 3376 points while in Hong Kong the Hang Seng Index is also surging, up 1.6% to 26123 points. Japanese stock markets are moving the furthest, with the Nikkei 225 closing 2.4% higher at 24917 points while trading in the USDJPY pair has finally seen a course change with a little blip higher towards the 104 handle after slumping on Friday night to a new monthly (and yearly) low at the 103.50 level:
The ASX200 has started the week with a very solid session, closing 1.8% higher to 6298 points while the Australian dollar is about to break the 73 handle after having lost no ground on Friday night – nobody is liking USD here at all:
Eurostoxx and S&P futures are up all between 1-2% and ready to fire ahead with the four hourly chart of the S&P showing a break above the October highs as the US election is finally (almost?) over:
The economic calendar starts the week with the usual post-NFP quietness with a few Treasury auctions and some ECB policy wonk speeches.