See the latest Australian dollar analysis here:
Asian stock markets are having very mixed starts to the trading week with local and Japanese shares going nowhere in the wake of a wobbly night on Wall Street following the US unemployment print on Friday night. Despite some initial USD weakness, not all risk currencies are bouncing back with the Australian dollar still under pressure with Bitcoin under the $42K level and gold trying to get back above the $1800USD per ounce level:
Mainland Chinese shares are relatively strong with the Shanghai Composite up 0.3% to 3588 points while the Hang Seng Index is continuing its bounceback, up nearly 0.8% to remain well above the 23000 point level, currently at 23663 points. Japanese markets however are almost unchanged putting in scratch sessions with the Nikkei 225 closing 0.1% lower at 28478 points while the USDJPY pair is putting in a mild bounce off of four hourly ATR support at the mid 115 hanlde after deflating on Friday night, but still unable to get above the 116 level after trying to return to its former highs all last week:
Australian stocks wavered throughout the session, with the ASX200 eventually closing a few points lower going nowhere at the 7447 point level while the Australian dollar held on to its Friday night post-NFP print gains but its barely making headway at just below the 72 handle:
Eurostoxx and Wall Street futures are hesitant going into the London open, with the S&P500 four hourly chart showing price still under a lot of pressure here below the 4700 point level after breaking below the 4750 point support level last week on the hawkish Fed minutes with no signs of higher session highs:
The economic calendar is always quiet after the US unemployment print with a few Treasury auctions and not much else going on.