See the latest Australian dollar analysis here:
A much more positive mood as we head towards the end of the trading week and the all important Friday night US unemployment print. Most stock markets across Asia are putting in very solid returns with the Hang Seng finally breaking out of its funk with European shares looking to play catchup to Wall Street tonight. The USD is generally mixed against most of the risk currencies, while gold remains nice supported above the $1760USD per ounce level. Meanwhile Bitcoin has consolidated on its surge towards the $55K level, pausing here as it barrels in on its previous record high, having gained more than 20% in the last week:
Mainland Chinese markets remain closed for a holiday while the Hang Seng Index had a major surge, closing nearly 3% higher through is recent slowdown, finishing at the 24659 point level while Japanese markets also got out of their sell mode with the Nikkei 225 closing 0.5% higher to 27678 points. The USDJPY pair was unable to push higher though after overnight almost hitting last week’s high at the 112 handle as it tracks sideways at the 111.50 level:
Australian stocks reversed their previous losses with the ASX200 closing more than 0.7% higher at 7256 points while the Australian dollar is consolidating on the risk on mood, up near the 73 handle but still failing to put in a new intrasession high for the week:
Eurostoxx and S&P futures are up more than 1% so far going into the London open, with the four hourly chart of the S&P500 showing a breakout above ATR resistance at the 4360 point level which had been holding true from the start of the week, staving off a wider correction:
The economic calendar will focus squarely on the latest ECB accounts, then the weekly US initial jobless claims as a prelude to tomorrow nights NFP print.