See the latest Australian dollar analysis here:
Asian share markets are generally lower in line with the selloff of tech stocks on Wall Street overnight with only Chinese shares advancing. The USD remains under pressure while Treasury yields are starting to climb again as a slightly risk off mood emerges. Bitcoin continues to suffer from its weekend gap lower, making a new low below the $55K level, having lost more than $6K since Turkey banned cryptocurrency transactions:
The Shanghai Composite is slightly, climbing a little over 0.21% going into the close, currently at 3486 points while the Hang Seng Index is putting in a scratch session to close only a handful of points higher at 29115. Japanese markets continue their struggle against a much stronger Yen, with the Nikkei 225 falling nearly 2% to be at 29100 points while the USDJPY pair recovered ever so slightly this afternoon but remains at a new weekly low:
The ASX200 also can’t gain ground as its own domestic currency woes continues with the bourse losing 0.7% to almost fall below the 7000 point barrier, while the Australian dollar soars higher, almost hitting the 78 handle in the wake of stronger commodity prices and the lower USD, making a new weekly and monthly high:
Eurostoxx and S&P futures are falling slightly, down around 0.2% with the four hourly chart of the S&P500 showing price wanting to stay just above that stairway to heaven line and hold fast above trailing ATR support at the 4130 level:
The economic calendar includes UK unemployment and the latest US Redbook.