See the latest Australian dollar analysis here:
Asian stock markets have started the week in an ebullient mood given the solid lead from Wall Street on Friday night with the USD given back ground against the major currency pairs as US Treasury yields continue to spike higher. Bitcoin gapped much higher this morning, almost above the $49K level before crashing back down to its Thursday low just below the $47K this afternoon as nothing can stop this bubble:
The Shanghai Composite and Hang Seng Index remain closed for Chinese NY holidays while Japanese markets were boisterous with the Nikkei 225 finishing more than 1.7% higher to finally get through the 30000 point level. The USDJPY pair is trying vainly to get out of its funk, after its weak-ish swing higher on Friday night, hovering along just above the 105 handle:
The ASX200 shot nearly 1% high, confirming its move out of its recent trading range to start the week well above the 6800 point level with the Australian dollar bursting higher alongside, almost reaching the 78 handle on the risk on move:
Eurostoxx and S&P futures are tracking higher going into the London session, with the four hourly chart of the S&P500 anticipating more upside when Wall Street reopens tomorrow night with the clear breakout above the 3900 point level ready to twirl ever higher to freedom:
The economic calendar is relatively quiet given the US holiday with European trade balance and industrial production yearly figures the only prints to watch overnight.