By Chris Becker Another poor night for equity markets with news of the Brexit deal impacting European bourses in a perverse way, rallying before realising it’s not that good and selling off into the close. The US CPI print did not cause a flutter with currencies reacting more to the EZ CPI and GDP prints
Stocks across the region were mixed today with the local bourse falling nearly 2% on the back of another rout in banks, while the trifecta of Chinese data also proved a little dicey even though on most metrics they were good figures. The oil price and their effect on energy stocks plus the Brexit deal
By Chris Becker Two catalysts overnight that would normally be positive couldn’t turn around the risk off mood with US stocks stalling after European markets jumped near the close as a Brexit deal was hatched out. A new round of talks between the US and China on trade is supposed to be optimistic, but it
Stocks are sharply lower across most of the region in response to the risk off mood overnight with the added concern of a breakdown in Brexit negotiations and the falling oil price adding to the tensions. The PBOC again moved the Yuan closer to the 7 handle in a big move in today’s fix with
By Chris Becker A poor start to the trading week for overnight markets with US stocks selling off sharply on the back of tech giant Apple and confounded by falling oil prices that are hurting energy stocks. Brexit negotiations are also fouling up the roost in Europe while the USD is soaring against the major
It’s been a steady start to the week for equity markets here in Asia following the minor slump on Friday night in the US. Chinese stocks lead the way while Japanese bourses paused again despite a much lower Yen. The USD remains on a high against the major currency pairs while OPEC and other oil
By Chris Becker A week after a very strong non-farm payroll (NFP) report that then solidified the Federal Reserve’s intentions at the subsequent FOMC meeting to normalise rates has seen some semlbance of stability on equity markets, although Friday night saw a small tumble. The USD is back in town as all the majors correct
A slew of bad internal data and new policy directions by Chinese authorities – not helped by another big easing in the Yuan fix by the PBOC today – has seen Chinese equity markets selloff to close the week out in a bad note. With no new direction from the Fed overnight, looking set to
By Chris Becker The November Federal Reserve meeting came and went with no fanfare, as expectations remain nearly locked in for a rate rise in the December meeting instead. Nevertheless, the USD rallied against most of the majors and gained back some ground, particularly against Euro and Pound Sterling. Stocks were mixed on both sides
The reaction to the US mid-term elections has been positive for risk markets in Asia, with stocks rising across the board while the USD floundered against the majors. The Kiwi has moved to a three month high while the Aussie is riding high on a wave of USD weakness. The Shanghai Composite is up slightly going into the
By Chris Becker As expected, stock markets rallied following the near predictable result of the US mid-terms, although the post close resignation of Attorney General Jeff Sessions hasn’t been absorbed, neither the near insane press conference put on by Trump this morning. But it’s the sugar kick that was to be expected, with US stocks
The US mid-term elections – or divorce proceedings in other words – have caused a bit of havoc on risk markets here in Asia, with currencies the most volatile. The USD has moved around substantially against both Aussie and Yen while the Kiwi rose significantly on a very good employment report, making tomorrows RBNZ meeting
By Chris Becker Trading was thin on the ground overnight as Americans headed to their mid-term elections, with Treasury yields lifting slightly – the 2 year looks set to cross 3% soon – while the USD retreated against everything but Yen. European stocks fell back slightly with oil prices falling sharply again, both Brent and
It’s been a mixed session here in Asia with Chinese stocks falling while Japanese markets lifted as Yen waned on a strengthening USD. The other majors are relatively unchanged though leading up to the US mid-term elections which are sure to ramp up volatility across risk markets. The RBA held at its meeting this afternoon
By Chris Becker A mixed night on overseas markets with risk taking somewhat of a holiday in anticipation of the US mid-term elections, with the USD and bond yields falling while stocks kept treading water. The US ISM services print was very encouraging while Brexit negotiations were cooled once again on the Ireland border question.
It’s been an interesting start to the week here in Asia with minor falls across the board on stock markets, with currencies also moving sharply around on the trifecta of Brexit news, BOJ Kuroda’s press conference and the reaction to Friday night’s non-farm payroll (NFP) report, aka US unemployment. The Shanghai Composite is down over 1% going
By Chris Becker A very strong non-farm payroll (NFP) report on US unemployment on Friday night did not help the nascent recovery on equity markets. US markets fell around 1% after gaining more than that on almost every session during the week, with the USD reversing what had been a steep selloff against the major
A somewhat mixed end to the week here in Asia with most stock markets rising the wave of confidence that has set in on Wall Street earlier. Despite advancing local currencies due to a reversion in USD sentiment, plus falling oil prices, stocks look set to build from here – if tonight’s US unemployment print
By Chris Becker Reports of a potential Brexit deal, plus solid earnings by Apple overnight saw the risk sentiment shift higher, with the USD the main casualty. All the major currencies surged against King Dollar, particularly Aussie, while oil prices fell by nearly 2% on rising supply pressures. It looks like another risk positive day
Outside Japan it’s been a positive session on Asian stock markets today with domestic earnings troubles and a slightly stronger Yen the headwinds. The rest of the region is continuing the overnight bounce from Wall Street as traders struggle to build their confidence after an awful (if you’re long only) October. The Shanghai Composite was moving higher
By Chris Becker Overnight saw a continuation of the equity bounce with US shares up nearly 2% while the USD firmed against all the majors and Treasury yields remained at their lofty highs. EZ CPI came in bang on target, but that didn’t help the Euro which flopped to a new weekly low, while the
The bounce is here in full with a sea of green across Asian stock markets today, navigating through a steady BOJ interest rate meeting and a somewhat disappointing Chinese manufacturing PMI print. Australian inflation figures – out of date given it’s quarterly – didn’t move the Aussie dollar that much either. The Shanghai Composite is moving higher,
By Chris Becker Overnight saw a big bounce on Wall Street late in the session, as commodity prices retreating on continued US-Chinese trade talks. The equity correction is not yet over but there are signs of selling exhaustion taking place on both sides of the Atlantic, with futures indicating a similar bounce here in Asia
Here comes President Trump to save the day – so goes the refrain, even though the blame for this correction lays squarely in his ample lap. The idea of a better “deal” with China is giving stocks a boost across the region, with the Yuan now into a ten year low against the USD as
By Chris Becker Another volatile night on markets with European stocks leading a bounceback that then faltered before crashing on Wall Street with a very late “Hail Mary” recovery in the last hour of trading. Currency markets were not as crazy but the USD is reasserting itself against all the majors, a small bounce on
Quite a mixed start to the week here in Asia with mainland Chinese stocks falling swiftly, while the rest of the region is putting on minor gains, the ASX200 the standout, as some confidence returns. The USD is retreating slightly against the majors, with the Aussie dollar spiking, following on from its Friday night reversal.
By Chris Becker It’s not been a good week if you’re a long only holder of stocks, with rising volatility spilling over into some frenetic selling on Wall Street and other interconnected markets. Friday night saw another bad finish to the week with US stocks now at a six month low, tech stocks leading the
It’s not been the bounceback that we expected here in Asia with mixed results on stock markets across the region. The yuan dropped to a 10 year low, almost hitting the 7 handle versus the USD, while the Aussie dollar dropped to a two year low as the USD flexes its muscles. The Shanghai Composite is
By Chris Becker Another bounceback overnight but will it stick as stock markets remain in shock with too may series of volatile sessions starting to exhaust traders (me included). Tech stocks led the way with the NASDAQ lifting nearly 3%, while Treasury yields spiked again while currencies were relatively calm as the ECB stayed the
It’s been a tough day for the long only crowd in Asian shares across the region, with falls of a similar magnitude to those of Wall Street overnight. Volatility in FX markets has been sanguine however, with the Aussie bouncing slightly while the Kiwi deflates in the wake of the equity selloff, although this lack of
