Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Asian share markets are putting in solid sessions as we end another trading week although Chinese shares are again mixed due to COVID concerns with tech stocks pulling risk taking down, despite some really strong leads from Wall Street overnight. The ECB rate hike is keeping undollars elevated although the USD is basically in a holding pattern rather than under pressure, with the Australian dollar just holding on above the 69 level. Oil prices are moderating again with Brent crude sliding back to the $105USD per barrel level, while gold hasn’t moved after its big roundtrip overnight, hovering at the $1716USD per ounce level:

Mainland Chinese share markets are again sliding into the close with the Shanghai Composite down 0.5% to 3251 points while the Hang Seng Index is just holding on to a scratch session, down a handful of points to 20541. Japanese stock markets are continuing their surge, with the Nikkei 225 up 0.4% to 27914 points while the USDJPY pair is trying to take a breather as it struggles to get back above the 138 handle:

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