See the latest Australian dollar analysis here:
A small rebound in risk appetites here in Asia today despite the mixed messages overnight with most stock markets rising on the chances that more stimulus from the US Congress may actually be on the way (Mad King aside not signing it). Bitcoin is relatively steady below the $19000 level again, while gold has put on more gains above the $1800USD per ounce level following its swing long trade higher, now at $1833 but well off its pre-breakdown highs:
The Shanghai Composite is the only stock market really struggling, down 0.2% to 3442 points while its a much brighter day in Hong Kong with the Hang Seng Index advancing nearly 0.7% to 26713 points. Japanese stock markets are still going nowhere with the Nikkei 225 barely moving at 26809 points while the USDJPY pair has come back from its near two week high, retracing to the mid 104’s again:
The ASX200 has broken above the 6600 point level, up 0.4% to 6615 points while the Australian dollar is valiantly trying to break back above the 74 handle and its recent session high, but remains somewhat overstretched:
Eurostoxx and S&P futures are coming back slightly with the four hourly chart of the S&P500 showing a small gain to the 3660 points level as this market looks overstretched and already pricing in any stimulus coming from Congress:
The economic calendar continues tonight with US initial weekly jobless claims and the non-manufacturing ISM print for November.