See the latest Australian dollar analysis here:
Asian share markets are moving higher going into the Easter break with the firmer lead from Wall Street and some better than expected economic prints helping risk sentiment. Bitcoin is again relatively strong but remains unchanged as it finds more resistance at the $59K level while gold is poised here to breakout higher on its reversal bounce from overnight, currently at $1710 USD per ounce:
The Shanghai Composite is up 0.2% going into the close, currently at 3444 points while the Hang Seng Index is surging much higher, up 1.1% to 28689 points. Japanese markets are also finding a strong bid, with the Nikkei 225 taking back its previous losses and closing up 0.6% at 29382 points while the USDJPY pair is tightening at the 110.70 point of control as the symmetrical triangle tightens on the four hourly chart:
Solid retail sales and trade data has helped push the ASX200 higher, closing up 0.5% at 6828 points, while the Australian dollar broke down to a new weekly and monthly – read Christmas last year low – and its swiftly heading to the 75 handle going into the European session:
Eurostoxx and S&P futures are lifting slightly with the four hourly chart of the S&P500 showing price wanting to push through the 4000 point magical barrier which has remained elusive since the start of the week:
The economic calendar includes German retail sales plus the usual slew of manufacturing PMI prints including the US ISM version.
Right, that’s my last report for a little while – going on a small holiday (first one since 2019) over Easter. If you’re not sure of the Becker Curse, whenever I go on holidays/move house/have break from trading etc, something BIG happens on the markets that I miss….so fair warning.
I reckon Bitcoin will go up or down, by like – a lot.
Cheerio, stay safe over the Easter break and see you again soon!