ASX

Gold took full advantage of lower yields on Friday to accelerate into its record high, leaving the question as to whether it can break above this key milestone or present us with a desirable pullback first. The ASX 200 is also considering a break above its 200-day MA.

Two milestones were set on Monday for two key Australian markets, which saw AUD/USD close above its 200-day average for the first time in four months and the ASX 200 close below 7,000.

The US dollar held a key support level on Thursday, which could provide the platform for a bounce today if all goes well. Crude oil continues to hint at its own potential bounce, whilst the ASX 200 appears to have formed a swing high on the daily chart.

Gold’s rally has been nothing short of impressive. But the fact its 10% rise stalled below $2000 with a bearish reversal candle on Friday suggest it may need to take a breather. Meanwhile, the ASX 200 clings to an important support level, which could open up a run for 6700 is broken.

Gold enjoyed its best day in five months as it sucked in safe-haven flows, and we see the potential for further gains from here (over the neat-term, at least). The ASX rallied for a third day, but how it reacts around 7,000 today could dictate sentiment for the week.

AirTrunk is one of the largest hyperscale data centre developers in Asia-Pacific. Based in Australia, the company is exploring a listing on the ASX that could value them at AU$10 billion.

AUD/USD fell to its lowest level since November on Wednesday as it buckled under the strain of a stronger US dollar and yields. With key support levels showing the potential to act as resistance, a move down to 63c could now be on the cards.

The ASX 200 has continued to show resilience around the key 7,000 support level, despite the surge on bond yields, negative sentiment and rising inflation. What if sentiment improves?

Bearish technical signals are mounting for Australian equities, pointing to the potential for additional downside beyond that already seen.

With the RBA on the sidelines, it means external factors will continue to drive movements in the AUD, ASX 200 and Australian bond futures for the foreseeable future.

A playbook on how the AUD/USD, ASX 200 and Australian bonds should the RBA signal an end to rate hikes.

The US dollar was broadly higher alongside US yields ahead of Powell’s Jackson Hole speech. ASX 200 futures tracked Wall Street lower and USD/JPY regained its footing.

Flash PMIs dominated sentiment across the European and US sessions with downside disappointments. The US dollar index (DXY) topped just below 104 and closed back beneath the July high, hinting at a false break ahead of Jerome Powell’s Jackson Hole speech tomorrow. And this saw EUR/USD rebound from 1.08 and AUD/USD and gold bears continue to cover shorts.

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Hong Kong’s Hang Seng is arguably the ugliest index chart in the world right now, for good reason.

Australian stocks don't look particularly cheap, adding to downside risks from earnings disappointments.

USD/JPY bulls seem intent on goading the MOF and BOJ into verbal or actual intervention, as the market rises back to last week's multi-month high with rising yields supporting the move. The question now is whether we'll hear an increase of comments from officials if or when we break above last week's high. For now, USD/JPY looks as though it at least wants to retest it.