See the latest Australian dollar analysis here:
A not so quiet start to the trading year for Asian stock markets with some big swings higher as the lift on Wall Street overnight is embiggening risk spirits across the region. The Australian dollar however remains under pressure as does Bitcoin, struggling at the $46K level as gold claws through the NY/XMas volatile period to get back above the $1800USD per ounce level – but only just:
Mainland Chinese shares are down a little with the Shanghai Composite off by 0.2% to 3626 points while the Hang Seng Index is barely changed at 23270 points. Japanese markets are putting in strong returns on the back of a weaker Yen with the Nikkei 225 closing 1.7% higher at 29301 points while the USDJPY pair is surging through the 115 handle and putting in new monthly highs in a very overbought fashion:
Australian stocks had a much better start to the new year than anticipated, with the ASX200 closing nearly 2% higher at 7589 points while the Australian dollar clawed back some of its gap down to hover just above the 72 handle as it barely hangs on:
Eurostoxx and Wall Street futures are up and rearing to go again, with the S&P500 four hourly chart showing price ready to breakout above the 4800 point level tonight:
The economic calendar includes the latest German unemployment print, then the December US ISM manufacturing print, both very sensitive releases and a great way to start the trading year.