See the latest Australian dollar analysis here:
Stocks have surged across Asia despite the somewhat surprising undershoot in Friday night’s US unemployment print, with a lower USD and flat US stock futures not hindering action either. Risk currencies have pulled back slightly from their recent booming ascent, including gold which surged up towards the $1830USD per ounce level, but all the action is in Bitcoin as it gapped higher after basing and then breaking out on Friday night:
The Shanghai Composite is having a great start to the week, up over 1% to burst back above the 3600 point level while the Hang Seng Index is up nearly 0.9% to get back its own 26000 point level which had been slowly turning into resistance. Japanese stocks continued their epic breakout, with the Nikkei 225 finishing another 1.8% higher to 29659 points:
Australian stocks were the odd ones out but at least they didn’t lose ground with the ASX200 closing dead flat at 7528 points while the Australian dollar has pulled back slightly from its Friday night surge, having settled at the 74.40 level after being extremely overextended:
Eurostoxx and S&P futures are slowly building going into the London open, with the four hourly chart of the S&P500 showing price wanting to re-engage back above the 4540 point level after a scratch session on Friday night:
The economic calendar is relatively quiet as always following the US employment print with the usual Treasury auctions and not much else.