See the latest Australian dollar analysis here:
Stock markets remain quite flat and uninterested here in Asia following a similar mood overnight with the fallout from the bad-but-good-hangon wait a minute US unemployment report still causing a lot of hesitation in risk markets across the complex. The USD remains in a weakish state, but has firmed slightly this afternoon against undollar assets, with gold unable to climb back above the $1900USD per ounce level. Bitcoin continues to selloff, now well below the $33K level, making new daily and weekly lows as interest in the crypto currency world almost evaporates:
The Shanghai Composite fell over 0.5% to close at 3579 points, still unable to climb back above the 3600 point level while the Hang Seng Index is steady after its previous selloff, down a handful of points 28738 points. Japanese stocks continue to struggle with a stronger Yen with the Nikkei 225 taking back the previous meagre gains to close 0.1% lower at 28963 points. Meanwhile the USDJPY has put on a very mild bounce after decelerating into support just above the 109 handle, but remains poised here at the previous weekly support level:
The ASX200 was the only market to make headway, but only just, closing just 10 points higher at 7291 points, as the resurgent Australian dollar still can’t get past its previous weekly highs that are acting as resistance alongside the medium term downtrend from the start of the year:
Eurostoxx and S&P futures are lifting slightly going in the London open with the four hourly chart of the S&P500 quite elevated and wanting to advance past the previous record high, and while the low moving average provides a good uncle point, but watch momentum because the lower timeframe charts are suggesting inversion:
The economic calendar picks up a bit tonight with EZ wide GDP estimates for the 3Q, the German ZEW Survey and US trade balance figures.