See the latest Australian dollar analysis here:
A mixed tone across risk markets here in Asia with the lack of a lead from Wall Street overnight and only the RBA meeting giving any proper catalysts for traders to work on, with currency markets lifting slightly against USD, particularly Pound Sterling, with gold continuing to climb above the $1900USD per ounce barrier. Bitcoin continues to go nowhere as volatility reduces, with price hovering just above the $37K level with the target below at $30K not that far away:
The Shanghai Composite is looking to start the month with a scratch session, still hovering above 3600 points while the Hang Seng Index is taking back its previous losses, currently up 0.6% at 29330 points. Japanese stocks are in hesitation mode without any strong leads with the Nikkei 225 slipping 0.2% to close at 28814 points as the USDJPY hangs on at the mid 109 handle after deflating all week so far. If it breaks ATR support here, the last week lows beckon at the 108.70 level:
The ASX200 walked back a little but only just, falling 0.3% to hold well above the 7100 point level, closing at 7142 points, while the Australian dollar initially broke out before the RBA meeting but took that all back and then some, almost getting back to the start of week starting point at the 77.30 level, looking weak yet again as it fails to clear overhead ATR resistance:
Eurostoxx and S&P futures are up slightly going in the London open where it should get a bit busy with the return of US traders from their long weekend, plus a packed economic calendar providing catalysts. The four hourly chart of the S&P500 is still showing price wanting to get past the 4200 point level but that megaphone pattern may negate further rises for the time being:
The economic calendar is packed tonight with German unemployment, EZ core inflation and then US manufacturing PMI results for May with a few Fed and BOE speeches sprinkled about.