See the latest Australian dollar analysis here:
Share markets are rising in co-ordination following the Biden inauguration, with risk appetite soaring overnight, with the USD in full retreat as gold and silver is breaking out to new highs. The latest numberwang saw the Aussie dollar reach new highs, but Bitcoin is slowly deflating however, again selling off throughout the session to be back below the $35K level and at a new weekly low, with momentum now oversold and signalling a potential breakdown:
The Shanghai Composite has broken above the 3600 point level again, up more than 1% going into the close, while in Hong Kong the Hang Seng Index has finally stopped blowing higher with a scratch session today to close just short of the 30000 point level. Japanese markets however are moving higher again with the Nikkei 225 up by 0.8% to close at 28756 points despite the USDJPY pair breaking down on USD weakness, sending it back towards the 103 handle and looking very precarious:
The ASX200 made another good advance, closing 0.8% higher to 6823 points, while the Australian dollar lifted sharply on the weak USD meme, heading towards the recent weekly highs to almost get back to the 78 level in what looks a little unsustainable:
Eurostoxx and S&P futures are up over 0.6% going into the London open, with the four hourly chart of the S&P500 showing a continued breakout above the 3800 point level and looking extremely oversold:
The economic calendar includes weekly initial jobless claims and US housing starts.