See the latest Australian dollar analysis here:
Asian share markets are extremely mixed in today’s session with Japanese stocks rebounding while Chinese shares remain nearly unchanged in response to last night’s selloff in tech stocks on Wall Street. Bitcoin continues to really struggle with another selloff going into the European session with the four hourly chart broadcasting more downside to follow as the $52K level is up next to to be broken:
The Shanghai Composite is hovering with a minor loss at just over 3365 points, still at a new monthly low while the Hang Seng Index is scratching along at the same pace, nearly unchanged at 27928 points. Japanese markets have bounced back on a selloff in Yen with the Nikkei 225 lifting nearly 1% to be back above the 29000 point level while the USDJPY pair has broken out of its funk to almost return above the 109 handle and where it started the week:
The ASX200 is following its Chinese brothers (masters?) by also not moving with a scratch session going into the close at 6778 points while the Australian dollar has stabilised somewhat after its sharp early week falls, but is still struggling to get back above the 76 handle going into the European open:
Eurostoxx and S&P futures are mixed so far, with the four hourly chart of the S&P500 showing price right at last week’s intrasession low just below the key 3900 point psychological level with last night’s selloff broadcasting potentially more falls to come:
The economic calendar includes German consumer confidence and then the 4Q US GDP final print.