See the latest Australian dollar analysis here:
Stock markets are on the rebound here in Asia in-line with the BTFD crowd on Wall Street overnight, trying vainly to fill a hole from the impact of the latest US CPI print earlier in the week. The USD is pulling back slightly going into the London session against everything, including gold but definitely not Bitcoin which remains on the ropes after its abandonment by Tesla and the Dogemaster Musk:
The Shanghai Composite is bouncing back hard, up over 1.6% going into the close, while the Hang Seng Index is also heading higher, up nearly 0.8% to 27960 points. Beleaguered Japanese stocks are bouncing back the hardest however, with the Nikkei 225 closing 2.4% higher at 28084 points as the USDJPY is leaning back after its CPI-induced breakout, still above the 109 handle but losing momentum:
The ASX200 was able to stave off its own mild selloff, gaining some 0.4% to close the week out above 7000 points, but only just at 7014. The Australian dollar is finding a little bit of life later in the session with a tiny bullish inverse head and shoulders pattern on the four hourly chart suggesting a possible breakout later tonight as it may have found a bottom here:
Eurostoxx and S&P futures are slowly finding traction here after the big Wall Street bounceback with the four hourly chart of the S&P500 showing price wanting to extend above the key 4120 former support level:
The economic calendar finishes the week with US retail sales and Michigan consumer sentiment.
Have a good weekend and stay safe!