See the latest Australian dollar analysis here:
Outside of Chinese stocks, its been a relatively mild response on stock markets across Asia today following some mixed economic prints overnight, with local shares pulling back as the Australian dollar lurches towards the 74 cent level. While gold falls asleep just above the $1800USD per ounce level, Bitcoin has finally come to life with a breakout above the $50K level, matching the previous weekly highs:
The Shanghai Composite has closed nearly 0.9% higher, building on its breakout above the 3500 point level, finishing just shy of 3600 points. Meanwhile the Hang Seng Index managed to stay just above the 26000 point level but only just, lifting 0.1% to finish at 26059 points. Japanese stocks continued their own breakout, with the Nikkei 225 finishing 0.3% higher to close at 28543 points:
Australian stocks continued to pullback with the ASX200 stalling yet again, closing 0.5% lower to break below the 7500 point level. Meanwhile, the Australian dollar continued its surge well above the 73 handle, actually almost hitting the 74 level in response to the trade balance print:
Eurostoxx and S&P futures are flat lining into the London open, with the four hourly chart of the S&P500 showing price wanting to re-engage back above the 4530 point level but finding short term momentum pulling back as the BTFD crowds wait until tomorrow night:
The economic calendar continues with the latest trade balance figures from the US and the initial weekly jobless claims as a prelude to tomorrow nights non-farm payrolls US unemployment print.