See the latest Australian dollar analysis here:
Asian share markets are finishing the week in mixed fashion yet again, echoing similar moves on Wall Street as seismic shift in Federal Reserve intentions continues to resonate throughout risk markets. Gold is struggling again going into the London session, currently just above the $1783USD per ounce level after being dumped below the $1800 level overnight while Bitcoin is slowly deflating as it heads back to last week’s high, wiping out all the gains of this week:
The Shanghai Composite has stalled yet again, finishing just a handful of points lower at 3524 points, while the Hang Seng Index zoomed higher, up 0.7% to close at 28766 points. Japanese stocks have continued their pullback with the Nikkei 225 closing 0.2% lower at 28964 points as the USDJPY pair remains just above the 110 handle and almost back to its start of week levels after a big retracement overnight:
Australian stocks had a tepid finish to the end of the week with the ASX200 closing only 0.2% higher at 7368 points while the Australian dollar just keeps on selling off, heading down to the 75 handle after commodity prices fell overnight:
Eurostoxx and S&P futures are flat lining going in the London open with the four hourly chart of the S&P500 showing momentum still on the negative side and price action looking tenuous at best with more downside still possible as risk markets reset:
The economic calendar finishes the week with UK retail sales and a private oil rig count in the US.
Have a good weekend and stay safe!