See the latest Australian dollar analysis here:
Asian share markets are generally moving higher although local stocks are stalling despite a very firm lead from Wall Street on Friday night. Bitcoin suffered a big gap lower to start the week below the $57K mark due to Turkey banning cryptocurrency transactions, but this is likely to be filled as Chinese authorities again suggest it as an alternative to King Dollar:
The Shanghai Composite is up over 1.5% going into the close, currently at 3477 points while the Hang Seng Index is up 0.5% to 29107 points. Japanese markets struggled to find a strong bid, with the Nikkei 225 putting in a scratch session in the wake of a stronger Yen with the USDJPY pair pushed down to the mid 108 level to continue last week’s selloff:
The ASX200 started out strong but only managed to finish a handful of points higher, closing at 7065 points, while the Australian dollar gapped down on the weekend open before rebounding off the 77 handle to get back to its Friday level but watch the mid 77 on:
Eurostoxx and S&P futures are lifting slightly, up around 0.2% with the four hourly chart of the S&P500 showing price wanting to keep pushing well above the 4000 point magical barrier as this stairway to heaven continues unimpeded!
The economic calendar is very light on tonight with a few Treasury auctions and not much else.