See the latest Australian dollar analysis here:
Asian stock markets are having very solid returns in response to the big bouncebacks on Wall Street and European shares overnight with the USD retreating slightly against risk currencies with the Australian dollar heading up through the 71 cent level. Meanwhile gold is starting to get momentum after being flat all week, currently pushing through the $1790USD per ounce level, finally not making any new session lows. Bitcoin on the other hand is slowly rolling over after its mild melt up to the $51K level, currently barely holding above the $50K level as short term momentum reverts back to the medium term downtrend:
Mainland Chinese shares are playing catchup with the Shanghai Composite up nearly 1% to decisively cross back above the 3600 point level while the Hang Seng Index puts in a flat session, currently at 23966 points. Japanese markets are continuing their own bounceback with the Nikkei 225 closing 1.2% higher at 28819 points with the USDJPY pair also slightly rolling over going into the London session, to retrace below the mid 113 level and remain below trailing short term resistance:
Australian stocks also had a very positive day, with the ASX200 lifting more than 1.2% to be just above the 7400 point level as the Australian dollar managed to extend above the 71 handle after clearing short term resistance overnight:
Eurostoxx futures and S&P futures are lifting somewhat going into the London open, with the S&P500 four hourly chart showing price slowing down a little as it heads to the key 4700 point resistance level that had broken in this recent Omicron led dip:
The economic calendar will include the Canadian central bank interest rate meeting then the EIA oil survey.