Chris Becker

173

Macro Afternoon

The selloff has abated somewhat here in Asia with only local markets falling on the back of both iron ore and coal concerns, as the USD remains firm against the risk currencies with gold still flummoxed at well below the $1800USD level: The Shanghai Composite is down 0.6% so far to remain below the 3600

5

Macro Morning

Wall Street volatility spiked significantly overnight in the wake of the latest strong retail sales data with the USD firming strongly against many of the risk currencies as a result, particularly the Aussie dollar which continues to fall in line with iron ore. Bond yields lifted across the curve while other commodities inched higher, although

99

Macro Afternoon

The selloff continues here in Asia as the fallout from the Evergrande collapse spreads throughout the region, with only local stocks rebounding on the latest unemployment figures. The USD is firming once more against the risk currencies with gold still holding below the $1800USD level, while Bitcoin has picked up again, pushing through the $48K

3

Macro Morning

It’s risk back on as the latest US industrial production print slightly missed expectations, but this was enough of a catalyst to get things moving again after nearly two weeks of uncertainty on Wall Street. Bond yields rose slightly while the USD fell back mainly against Yen as the other risk currencies still remain in

74

Macro Afternoon

The selloff continues here in Asia as the fallout from the Evergrande collapse spreads throughout the region, with even Japanese stocks taking a tumble. The USD is firming once more against the risk currencies although gold is just holding above the $1800USD level, while Bitcoin has peaked again at just below the $47K level as

1

Macro Morning

It’s risk off as the latest CPI print in the US underwhelmed Wall Street, sending US stocks to a new one month low. Bond yields fell back sharply in response with the 10 year Treasury back to 1.26% while gold and other major currency pairs roundtripped around the print, with the shiny metal able to

68

Macro Afternoon

Risk taking in Asia is definitely limited to Japanese markets with Chinese bourses selling off and Australian shares unable to put in a new high as RBA Governor Lowe’s speech remaining dovish for the Aussie dollar. Gold is still struggling to get back above the $1800USD level, while Bitcoin is flat lining as well as

7

Macro Morning

Wall Street was looking to put in a sixth consecutive down session last night, but managed a very late comeback as concerns about growth and vaccination mandates amid rising delta outbreaks lingered. Bond yields fell back slightly with the lack of any relevant events on the economic calendar providing little catalysts to move bond or

67

Macro Afternoon

A somewhat solid start to risk taking here in Asia as we start another trading week with stock markets not reacting to the falls on Wall Street on Friday night, while the USD remains relatively strong against risk currencies despite some lifts in commodities. Gold is struggling to get back above the $1800USD level, while

0

Macro Morning

Wall Street fell for the fifth consecutive session on Friday night, with a significant fall in industrial stocks due to concerns about growth post the US vaccination mandates. Bond yields rose however with the USD lifting slightly higher as European stocks also put in mixed finishes for the trading week as the latest industrial production

139

Macro Afternoon

A much better finish to the trading week here in Asia with stock markets rebounding following yesterday’s selloff. Risk currencies were basically unchanged, although Yen sold off against USD as risk appetites broadened throughout the session. Gold is back up above the $1800USD level but only just, while Bitcoin is again largely unchanged by hovering

0

Macro Morning

Wall Street fell for the fourth consecutive session, taking US bond yields and the USD with them with the latest ECB meeting proving no real change in stimulus direction while US initial weekly jobless claims came in as expected. Risk sentiment also remains mixed amongst commodity markets with oil dropping more than 2%, while copper

77

Macro Afternoon

Stock markets continued to have divergent fortunes across Asia with only mainland Chinese shares advancing, despite a massive drop in Evergrande shares and bonds while Japanese political machinations continue to unravel. Risk currencies were basically unchanged, as was Bitcoin as it remained just above the $46K level while gold is really struggling here after breaking

0

Macro Morning

Sentiment continued to sour on risk markets overnight amid concerns that stimulus pullback is still coming sooner rather than later, despite a disappointing Biege Book reading from the Fed overnight. Wall Street continued with another mild selloff, while European shares dropped sharply across the continent as the USD continued to firm against the major undollar

87

Macro Afternoon

Stock markets had divergent fortunes across Asia as the wobbles on Wall Street extended to the region today, although Japanese stocks continued their epic surge.  Risk currencies continue to pull back with the Aussie dollar still well under the 74 cent level vs USD while gold is struggling to get back above the $1800USD per

3

Macro Morning

Sentiment is reversing on risk markets amid concerns that slower growth is ahead as the latest German ZEW Survey indicated future economic expectations are flagging across the continent. The return of US traders did not help quell those concerns with Wall Street putting in a poor start to their shorter trading week, while the USD

58

Macro Afternoon

Stocks continue to surge across Asia – except locally – with the lower USD and flat US stock futures still not hindering safe haven buying either. Risk currencies continue to pull back slightly with today’s RBA meeting and non-decisions keeping the Aussie dollar under control, while gold has slipped back to the $1817USD per ounce

0

Macro Morning

The lack of US traders overnight due to Labor Day holiday saw currency markets go into a holding pattern while European stocks put in multi year highs, with German factory orders much firmer than expected. The rolling pace of vaccinations combined with more solid economic news is buoying risk taking on the continent, with Brexit

62

Macro Afternoon

Stocks have surged across Asia despite the somewhat surprising undershoot in Friday night’s US unemployment print, with a lower USD and flat US stock futures not hindering action either. Risk currencies have pulled back slightly from their recent booming ascent, including gold which surged up towards the $1830USD per ounce level, but all the action

0

Macro Morning

The latest US jobs report came and went on Friday night, setting the risk tone for the rest of the month as usual and surprised to the downside – maybe a little too much with another fall in the US ISM Manufacturing survey as well. The USD fell back only slightly while the Australian dollar

214

Macro Afternoon

Japanese stocks are leading the way in the region with the stepping down of the Prime Minister, while traders overall are positioning for tonight’s all important US employment print. Risk currencies have slowed down their ascent, including gold which continues to hover above the $1800USD per ounce level, as Bitcoin tries to stabilise here after

3

Macro Morning

The USD fell back again overnight as the weekly initial jobless numbers were slightly lower than expected, setting up for a dovish NFP print tonight that will set the risk taking for the month ahead. Notably, US GDP estimates have been pulled back which will add to the “don’t taper too soon please” dogma on

123

Macro Afternoon

Outside of Chinese stocks, its been a relatively mild response on stock markets across Asia today following some mixed economic prints overnight, with local shares pulling back as the Australian dollar lurches towards the 74 cent level. While gold falls asleep just above the $1800USD per ounce level, Bitcoin has finally come to life with

1

Macro Morning

The private ADP jobs number in the US overnight disappointed overnight, basically due to a lack of healthcare jobs as that sector reels from the delta COVID outbreak. This wasn’t enough to shift risk spirits however, with Wall Street remaining relatively as only tech stocks lifted higher. The latest ISM manufacturing print was more upbeat,

107

Macro Afternoon

A relatively strong response on stock markets across Asia today as risk comes back to start a new month following some mixed economic prints overnight. The USD is bouncing back slightly although the Australian dollar surged on the latest GDP print and gold remains very strong here above the $1800USD per ounce level with the

3

Macro Morning

Stock markets had a minor pause overnight due to a surprise upside print in European inflation and subsequent more talk about tapering QE while Wall Street absorbed a big fall in Chicago PMI print. Risk currencies and gold pulled back slightly, the former keeping well above the $1800USD per ounce level as USD remained relatively

87

Macro Afternoon

A very solid positive start to the trading week here in Asia following the non-hawkish language on Friday from Jackson Hole, with most stock markets rising across the region. The lack of taper talk is keeping risk spirits elevated, with the new record high on Wall Street plus a goldilocks personal inflation print on Friday

0

Macro Morning

The Jackson Hole conference ended up being less hawkish than expected with Fed Chair Powell giving US stocks another lift higher with no announcement or talking about tapering Fed stimulus. This sent Wall Street to a new record high and the USD through the floor as commodity currencies like the Australian dollar were able to

132

Macro Afternoon

A very mixed finish to the trading week here in Asia with most stock markets putting in scratch sessions or minor retracement as traders await the outcome of the Fed’s Jackon Hole meeting and the PCE inflation print. The USD has fallen back slightly against the undollars, including Bitcoin but its gold that has found

7

Macro Morning

The latest US GDP estimate came in firmer than expected and coupled with Fed member Kaplan gunning for a taper, this sent risk sentiment into reverse mode with Wall Street selling off after its snapback rally. Commodity currencies like the Australian dollar were unable to sustain their own bounceback despite a big rise in iron