See the latest Australian dollar analysis here:
Another very mixed finish for Asian stock markets as Chinese bourses diverge in fortune, Japanese market clawback there losses while Australian shares were largely listless. The USD is holding ground after a big swingback in Euro previously, while the Australian dollar remains below the 73 handle and gold holds fast at the $1860USD per ounce level. Meanwhile Bitcoin is still dropping after breaking below the $60K level and now about to cross back below the $56K mark, making a poor week for crypto newbies after getting sucked in previously:
Chinese shares are diverging sharply with the Shanghai Composite putting in a big surge in late trading, up over 1% to 3558 points while the Hang Seng Index has gone the other way, following through on its breakdown to be off by more than 1.6%, slumping to 24896 points. Japanese markets have had a solid bounceback with the Nikkei 225 closing 0.4% higher at 29720 points while the USDJPY pair is slowly clawing its wayback after its sudden retracement, currently building above the 114 level:
Australian stocks were able to lift marginally but the ASX200 still failed to close above the 7400 points level, rising only 0.2% as the Australian dollar continues to do nothing following its rollover from the failed swing start to the week, remaining below the 73 handle and set to make a new weekly and monthly low:
Eurostoxx and S&P futures are surging going into the London open with momentum pushing into the overbought zone, so we could have a very solid finish to the trading week, as the four hourly chart of the S&P500 shows price ready to climb back above the recent highs at the 4700 point level:
The economic calendar includes the latest UK consumer confidence and retail sales print while in the US its just another series of Fed speeches to end the trading week.