Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Asian share markets are green across the board as risk sentiment firms once again with a very solid lead from Wall Street overnight. The USD is still in mild retreat mode from its own reversal with Euro pushing above the 1.02 handle while the Australian dollar firms above the 69 level. Oil prices are moderating again with Brent crude sliding back to the $106USD per barrel level, while gold is trying to find a bottom here with price still hovering around the $1710USD per ounce level:

Mainland Chinese share markets are pushing higher before the lunch break with the Shanghai Composite up 0.7% to 3301 points while the Hang Seng Index has advanced further to recover its previous losses, currently up 1.7% at 21020. Japanese stock markets are the standouts in risk taking however, with the Nikkei 225 up more than 2.5% to blast up to the 27624 point level while the USDJPY pair has stabilised just above the 138 handle:

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