Australian Dollar

20

Macro Afternoon

by Chris Becker Please note this is a special Presidential “alternate facts” version of Macro Afternoon. Fully approved by the Krem, err White House. Markets returned full of confidence absorbing President Trump’s record watching inauguration over the weekend, with stocks rallying in allies Japan and Australia while Chinese stocks slumped in shame as a new world leader

10

Macro Afternoon

by Chris Becker Chinese GDP surprised on the upside, with mainland stocks rising alongside Japanese bourses even as the USD  drops against Yen. Uncertainty about the Orange Oligarch’s climb to power tonight in the US is lifting gold while Australian stocks are selling off as traders position for a wait and see Monday. The Shanghai Composite

8

Macro Afternoon

by Chris Becker Outside Japan, its much ado about nothing for stock markets in Asia, as a positive lead overnight has not turned into anything substantive on Chinese or Australian bourses. The return of a stronger USD has been temporary so far, with gold coming back a little alongside Aussie dollar, while the Yen remains

7

Macro Afternoon

by Chris Becker A more positive day for stock markets in Asia, led by Chinese shares which are finding needed support from official intervention and a much strong Yuan, including more PBOC market operations. This liquidity spilled over to other bourses – all save the ASX200 – as the fallout from the one-two punch of

5

Macro Afternoon

by Chris Becker Another volatile day in Asia with no lead from US overnight, as stocks fell across most of the region, excepting Hong Kong, while safe haven currencies like Yen and gold were bid higher due to more political fallout. Tonight we’ll see a “hard Brexit” line taken from Theresa May, plus a return

5

Macro Afternoon

by Chris Becker Outside Australia its not been a good start to the week for Asian stocks, with Japanese and Chinese bourses selling off in response to a turgid weekend of macro events and news. The PBOC fix of the Yuan, the huge gap down in Pound Sterling caused another safe haven run Yen as

2

Macro Morning

By Chris Becker  Risk markets are slipping as confidence slips away that President elect Trump can continue to lift stocks, dragged down by US banks especially as USD continues to drop and Treasures are bid sending yields lower. The commodity space was more bullish as oil jumped on Saudi cuts and gold pipped above the

9

Macro Afternoon

by Chris Becker The USD continued to selloff today as the aftermath of Trump (apostrophe) s first pres conference, with almost no details regarding fiscal spending plans or otherwise provided created huge volatility overnight in currency markets. That continued somewhat today with the fallout limited to Japanese stocks as Yen and gold surged on the

4

Macro Morning

By Chris Becker  An explosive press conference with Trump wading in on all kinds of matters sent USD, Treasuries and other markets reeling overnight, as the swamp drainer in chief is making volatility great again. US stock markets hit new highs while the USD Index fell nearly 1.5% against the majors, with the Aussie dollar

17

Macro Afternoon

by Chris Becker Asian shares are trying to eke out gains after a lacklustre lead on overnight stocks, buoyed by a weaker Yen and higher commodity prices. The Shanghai Composite is the only negative nelly, down more than half a percent to 3144 points as the PBOC keeps the onshore Yuan relatively unchanged in today’s fix.

16

Macro Afternoon

by Chris Becker The USD is taking a hit in Asian trade as stocks are mixed coming off the poor US lead overnight. Only Chinese stocks are in the green as the safe haven trade going to Yen is seeing the inversely correlated Japanese bourses dragged down while locally its a profit taking session as

39

Macro Afternoon

by Chris Becker Volume is starting to build as the trading year builds and we get the first the US NFP and the huge moves in offshore Yuan that needs to be absorbed by Asian markets after an eventless weekend. Bull markets are popping up everywhere in stocks, and that’s no different here with local

21

Macro Afternoon

by Chris Becker The first week of the trading year is almost over and we have the most important event on the calendar tonight – the US NFP – but that is being overshadowed by the big move by the PBOC in shoring up the Yuan. This is impacting Asian shares and currencies alike so

7

Macro Morning

By Chris Becker  Another night of weakness in USD prompted by the release of the FOMC minutes earlier in the week, quickened by the Yuan tightening but not dampened by a very solid ISM non-manufacturing print. US bonds rallied with 10 year Treasury yields slumping as traders position themselves before tonights NFP release.  European stocks were

12

Macro Afternoon

by Chris Becker A generally positive day on stock markets after a solid lead from US bourses overnight, but it was action on currency markets that move things around. We had a couple of service PMIs released locally and the private Caixin prints that were to the upside, but didn’t provide much impetus. The weakening

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AUD nears 73c as Bitcoin surges on Chinese demand

As we start the year in currency land, two themes are getting interesting – one local, one peripheral/ephemeral. First to Bitcoin, which was the best performing currency in 2016, more than doubling, but has surged spectacularly towards the end of the year, cracking the $1000USD level over the break and now at $1114USD: We’ve gone