See the latest Australian dollar analysis here: Macro AfternoonThe hawks are circling on Wall Street with yet another selloff overnight, the fifth in a row for European equities as risk markets anticipate the forthcoming FOMC meeting. Commodity markets remain under stress too with oil prices falling nearly 2%, gold off by more than 1% while copper was down just over half a percent. Bitcoin continued to deflate further overnight, although it had a minor rally earlier this morning, as the failure to get out of last week’s starting slump puts continued pressure on all crypto currencies. This dead cat bounce is rolling over nicely, as daily momentum never got to a positive setting, and price action overall remaining in a long term downtrend channel with heavy resistance overhead at the 24500 point level. SPI futures are down more another 40 points or 0.5% so like the previous session indicator, but this could be absorbed due to the lower Australian dollar.

Source: Stuff December 15, 2021 00:04 UTC