by Chris Becker As we head into a more fruitful week in the economic calendar, Asian markets are seeing more risk takers with most stock markets putting in positive sessions and domestic currencies also higher. The oil price is helping here, as are other commodities going into the European open. In mainland China the Shanghai
By Chris Becker A slow week on macro markets as we pass through the quiet period of the economic calendar and caution abounds. The only remarkable technical event has been the breakdown in oil prices as long positions are unwound fast, sending both markers down to an almost one year low. Stocks remain cautious but
By Chris Becker A mixed night – read: traders looking at each other working out what to do – as oil hovered at its recent lows, Treasuries sold off and USD remained firm as US stocks put in a scratch session, unable to decipher the latest domestic political agenda, particularly for healthcare stocks. In
by Chris Becker Hot money continues to wind out of long oil and into Yen and other safe havens like gold, sending Japanese stocks down while Chinese and Aussie (but I repeat myself) stocks initially rallied. Stock futures for the US and European markets are flat alongside currencies however. In mainland China the Shanghai Composite
By Chris Becker Another retreat in risk overnight on the back of slumping oil prices with both oil markers now in bear market territory, dragging energy shares down on the S&P500 while tech stocks remain buoyant. While oil is now down over 20% since the start of the year – suck on that OPEC
by Chris Becker This time only mainland Chinese stocks are enjoying the feel of green, led by rebalancing in the MSCI Index as a sea of red screens swamped the rest of Asia, led by a big selloff in Australian stocks. Yen is gaining as the safe haven once more alongside a small blip higher
By Chris Becker The USD and Treasuries rose in lockstep as US stocks retreated due to the retreating oil price overnight as tech stocks took a tumble following their too-fast rise in the previous session. Without much economic news to go on, risk markets are reacting to political and other macro events. A speech
by Chris Becker Outside of Japan it hasn’t been a fun day in Asia with most regional stock markets closing in the red, in opposition to a strong lead overnight on US and European markets. The stronger USD on the back of hawkish Fed comments is only finding resistance against the Aussie as commodities retreat
By Chris Becker The US dollar rallied overnight alongside US tech stocks and European bourses as the risk-on mood re-ignites following some quite hawkish comments from Fed Governor William Dudley. The move higher more than offset losses in energy stocks as the oil price continued to fall as US oil rigs keep pumping, foiling
by Chris Becker Its a bright start to the week with Japanese stocks leading the way across Asia as safe haven buyers retreated away from Yen and filled in to commodity proxies like the Aussie and Kiwi. In mainland China the Shanghai Composite is up over 0.5% going into the close at 3137 points, still
By Chris Becker Another wonderful week on macro markets begins! Last week saw continued domestic imbroglio in the US not able to translate to further volatility, instead relying upon the FOMC meeting to deliver a weak punch with its fourth rate rise to the rising inflation meme, with official CPI slowing. Treasury yields are inexorably
by Chris Becker A mixed end to the week for Asian shares with the Yen falling on the BOJ continued stimulus position, while Aussie and other markets sold off going into the close to end a lacklustre trading session. In mainland China the Shanghai Composite is down going into the close, off approx. 0.2% to
By Chris Becker A double whammy of energy and tech stocks retreating on Wall Street overnight as the USD surged on more hawkish comments from the Fed. Not helping is a widening political scandal in the US that is likely at best to delay the Trump’s administration plan to rollout the infrastructure gravy train,
by Chris Becker The negative lead overnight has turned into a mild selloff across Asia with Australian stocks falling the most after a stonking jobs report sent the Aussie dollar higher. In mainland China the Shanghai Composite is stable going into the close at 3132 points, still clinging above key support at the 3100 point
By Chris Becker As the Fed held to its interest rate rise agenda overnight, even as domestic inflation tapers off and in the face of what looks like a whimpering Trump fiscal plan, US stocks retreated as volatility begins to build. With one more hike left for the calendar year, Treasury traders are scratching
by Chris Becker It’s been a mixed day in Asia with short covering and delusion over iron ore in Australia overshadowed by minor falls across the rest of the region. In mainland China the Shanghai Composite slid on the triple data release with FAI numbers spooking a little, sending the market down 0.7% to 3129
By Chris Becker A more positive session last night with US and European stocks pushing higher as the USD retreated against the majors coming into this weeks FOMC Meeting and tonights CPI print.. UK inflation came in a bit hotter than expected, helping reverse some of the Pound’s recent losses on the May election
by Chris Becker The selloff in tech stocks overnight has not affected Asian bourses as much as expected, with real caution and volatility still surrounding the outcome of the UK election and the shenanigans in the US. In mainland China the Shanghai Composite zoomed straight up after the long lunch break, reversing some of yesterday’s
By Chris Becker US tech stocks may be ringing the bell at the top of the reflation trade with European markets and Pound Sterling continuining their drag down on the UK election fallout. The political fallout in the US maybe finally starting to weigh on shares, as the FOMC decision bears down in only
by Chris Becker The fallout from a hung UK parliament and the Comey testimony has not translated into big falls or higher volatility in Asia – save the Pound, which is taking a pounding against the majors. Good time for shopping online in the UK? In mainland China the Shanghai Composite is up slightly going
By Chris Becker What a night! A shock on each side of the Atlantic as the Comey testimony gripped America, while the UK election looks like a big loss for the Tories, with volatility jumping and the Pound thumping, losing over 2% on the exit poll result. Oh and the ECB had a meeting
by Chris Becker Caution and prepositioning for some major macro events over the next 24 hours in the Asian session today, with the Chinese and Australian trade figures (but I repeat myself) not causing any ripples. In mainland China the Shanghai Composite is up slightly going into the close at 314 points, trying to build
By Chris Becker European stocks retreated while US bourses advanced slightly with a surprise lift in oil supplies in the recent DOE inventory report slugging the crude price and sending energy stocks lower. There’s a huge culmination of macro risk to end the week with the UK general election, the Comey testimony that could
by Chris Becker The less than impressive local GDP result sure impressed Aussie buyers, send the local currency up to its previous high in May while stocks and bonds were non-plussed. Outside the domestic arena, the real focus is macro – the UK election, the Qatar and growing problems in the Middle East, the Twit-in-Chief,
By Chris Becker The US unemployment print on Friday night – nonn farm payroll or NFP – that sets the market agenda for the following month, came in at a three month low, putting some meat on the bones that Trump’s administration is not making America (or the Planet) great again. Inflation remains muted, housing
