Macro Afternoon

See the latest Australian dollar analysis here:

Australian dollar free falls as Fed hikes return

Asian stocks are actually looking to finish slightly higher as the overnight wobbles have not translated into the falls expected in today’s session, as traders await tonight’s FOMC meeting. The USD remains in a holding pattern against the undollars with today’s dartboard CPI print not really affecting the Australian dollar, still hovering above the 69 level.  Oil prices are sliding slightly with Brent crude still around the $100USD per barrel level, while gold hasn’t really moved after its big short covering rally from Friday night, currently at the $1720USD per ounce level:

Mainland Chinese share markets have gone nowhere with the Shanghai Composite dead flat at 3280 points while the Hang Seng Index is having yet another reversal, this time losing more than 1% to be at 20671 points going into the close. Japanese stock markets are basically treading water, with the Nikkei 225 up 0.2% to 27723 points as the USDJPY pair pulls back after a very minor blip higher overnight, still below the 137 handle and well off its Friday night highs:

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