See the latest Australian dollar analysis here:
Heading into the end of the trading week, Asian stock markets are starting to find some bullishness helped by lower domestic currencies across the region as USD remains very strong against most of the major currency pairs. Gold is climbing very slowly but has been unable to get back above the $1800USD per ounce level while Bitcoin too remains under a lot of pressure with the coil of volatility on the four hourly chart still suggested an imminent breakout as crypto bans are starting to make waves against sentiment:
Chinese shares are again diverging but this time mainland shares are falling back with the Shanghai Composite closing 0.2% lower at 3584 points while the Hang Seng Index has lifted again to be up 0.2% to close at 24743 points. Japanese markets also had a bounceback with the Nikkei 225 gaining more than 0.6% to close at 29499 points with the USDJPY pair is hanging just above the 115.30 level after recently making a five year high:
Australian stocks were again listless with the ASX200 taking back the mild losses of the previous session to gain just 0.1% to close at 7407 points as the Australian dollar is hovering just above the 72 level after previously making a new weekly and monthly low:
Eurostoxx and S&P futures are rising going into the London open with momentum now solidly switching from oversold to nearly overbought on the S&P500 four hourly chart showing price heading back to the start of the week level above 4700 points:
The economic calendar will include the release of the latest FOMC minutes, German GDP estimates, and the ECB minutes with a speech by Largarde thereafter.