See the latest Australian dollar analysis here:
Asian stock markets are putting in sharp bouncebacks across the region, spurred on by some very low liquidity as traders start their Christmas holidays and of course, oversold conditions surrounding the new OMICRON outbreak. The Australia dollar and other risk currencies are relatively steady, with safe havens pulling back slightly while Wall Street futures are up and oil prices lifted slightly after a wide ranging session overnight. Meanwhile Bitcoin has launched higher, up through the $48K level but is still not making headway, as is hovers around the weekly lows:
Mainland Chinese shares are putting in a bounceback, with the Shanghai Composite up nearly 0.8% to 3621 points while the Hang Seng Index is also on the rise, up 0.6% to 22880 points as Japanese markets also move sharply higher with the Nikkei 225 taking back its previous losses to be up over 2% to 28490 points. Meanwhile the USDJPY pair is moving slightly higher, heading back above the mid 113 level as short term support builds from the starting point for the trading week:
Australian stocks were steady at the start of the session before slowly rising for the remainder of the day, with the ASX200 closing 0.8% higher at 7355 points while the Australian dollar has completely flat-lined despite the release of the latest RBA minutes, hovering just above the 71 level going into the London open:
Eurostoxx futures and S&P futures are bouncing back sharply on a change in risk sentiment with the S&P500 four hourly chart showing price bouncing off the recent lows below the 4600 point level after at one stage looking to return to the start of month position at the 4500 point level:
The economic calendar includes the latest German consumer confidence print, then the US Redbook release.