by Chris Becker Asia has a wet lettuce finish to the week with most stock markets finishing in the red as the USD continued its decline from overnight, except against Euro as the ECB meeting failed to ignite animal spirits. Going into the Christmas break there is tension amid risk markets that have had a
By Chris Becker Volatility returns as US stocks selloff in the wake of the Republican defeat in Alabama, with increased pressure internally on the GOP tax bill taking away the punch bowl just as the Fed raises rates. The ECB and BOE (and Swiss) had their interest rate meetings overnight as well with Mario Draghi
by Chris Becker The usually volatile 2nd Thursday of the month here in Asia, with Aussie unemployment and the Chinese trifecta of releases shortly after got a bit more exciting today as the PBOC abruptly hiked short term interest rates. Following last nights Fed rate hike, this got markets a bit twitchy with minor setbacks
By Chris Becker So the Federal Reserve pulls the trigger, raising rates at its December meeting overnight, signalling three more for 2018. The market reacted swiftly, as the rate rise had been cooked in already, the USD selling off against the majors, as Treasury yields fell and stocks faltered slightly. Gold rallied but both WTI
by Chris Becker The Alabama senatorial election is putting a little spice into a bland market with the USD falling slightly against the majors – Aussie dollar particularly – as the Fed begins its meeting tonight. Asian stocks were mixed across the region as commodity prices remained relatively stable. In mainland China the Shanghai Composite has
By Chris Becker Another record high for US stocks, although the NASDAQ retreated ever so slightly, as the USD lifted and Treasuries sold off slightly sending the 10 year yield back up to the “uncle point” of 2.4% before the Fed Meeting starts. Both major economic releases came in on target in Europe overnight with UK
by Chris Becker A lack of trading volume as risk markets hesitate before the dual ECB/Fed meeting this week saw most Asian stock markets retreat slightly today, with currency markets also relatively stable. Oil prices gained a little, particularly Brent crude, but overall a calm before the storm. In mainland China the Shanghai Composite has given back
By Chris Becker Another not so unusual night on Wall Street with European stocks sluggish in anticipation of the ECB meeting later in the week, US stocks put in new record highs as tech and energy stocks lifted everything. Bitcoin went crazy again as futures trading began: Recapping real markets first in Asia yesterday where
by Chris Becker A very positive start to the trading week with all Asian share markets up strongly, absorbing the usual weekend volatility well – excepting Bitcoin, of course. Ahead of the Federal Reserve and ECB meeting this week, the positive NFP on Friday night gave risk takers the green light to bid up all
By Chris Becker Another US non-farm payroll print has passed with Friday’s unemployment headline number not showing some disappointing results within, namely wage growth, but this hasn’t changed the market’s view of a certain rate hike by the Fed this month. This has been priced in to most USD pairs, but the Aussie dollar is
By Chris Becker The King has returned, except in the realm of Bitcoin which goes from the sublime to the ridiculous, and Pound Sterling rose on efforts to keep the Brexit deal alive, despite the Irish entanglement. US stocks swept aside the poor Asian lead as the GOP Tax Bill gained momentum leading into tonight’s
by Chris Becker Asian share markets are mixed with Chinese stocks selling off while Japanese markets are supported by a weaker Yen as the USD surges against everything, except Bitcoin that is. In mainland China the Shanghai Composite continues its plunge below key support at 3300 points, down 0.6% to be at 3274 points going into the close.
by Chris Becker A sea of red for Asian stocks today following the poor lead from Wall Street overnight as falling commodity prices on the back of a resurgent USD cascading into a mining stock selloff. 3Q Australian GDP data came in lower than expected which gave the local index a small reprieve as the
by Chris Becker Asian stocks were mixed in response to the poor lead from Wall Street overnight with all eyes on the RBA today seeing the Aussie dollar spike above 76 cents against the USD. Chinese data also surprised to the upside, but domestic stocks aren’t having it with risk off the table going into
By Chris Becker Stocks at first rallied overnight on a generally good Asian lead, with European markets closing higher before a selloff in US tech stocks overshadowed the gains by the Republican, I mean industrial stocks most likely to receive a benefit from the GOP tax cuts. Brexit talks broke down in Brussels which rattled
by Chris Becker A case of weekend news catch up here in Asia as the inevitable gap caught a few traders short as USD spiked higher and caused volatility across Japanese and Australian shares in particular. Yields on US Treasuries lept higher taking back the retreat on Friday night while commodities fell off in the
By Chris Becker Maybe the newest three letter code to follow on Wall Street is FBI, as markets roiled on Friday on the possibility of Trump’s inner circle finally being probed by the Special Prosecutor. US stocks had a volatile session amid the smoke and mirrors, but overshadowing all of this is the passing of
by Chris Becker Its all about the tax cuts as the US Senate votes tonight, holding risk markets in thrall as Asian stocks were mixed on the first day of the month. Japanese CPI was as expected this morning with the Yen slowly its recent selloff, while Aussie dollar remains in the doldrums against USD.
By Chris Becker Stocks rallied in the US but fell in Europe as the EZ-wide CPI came in lower than expected, sending the Euro sharply higher against USD. The closely watched PCE (personal consumption expenditure) print in the US on the other hand came in stronger, indicating lots of spending power still available to the
by Chris Becker Not even the fat man with a Fat Boy rocket can spoil the fun here in Asia with risk casting aside any doomsday news and bidding up almost across the board. Korean stocks actually rallied as did the Won, but all eyes are on Bitcoin as the bubblecryptocurrency cracked the $10,000 mark!
By Chris Becker Last night saw a big surge in stocks as the Republican tax plan inched closer to reality, as did the FCC’s campaign against net neutrality, helping lift all the mega-corporate listings on Wall Street. While commodities slid somewhat in London, particularly copper, oil was relatively steady as gold held up against a
by Chris Becker Risk in Asia can’t get started this week with more falls across stock markets following a lacklustre lead overnight on Wall Street. Commodities lead the way actually with oil dropping the second day in a row as OPEC gets ready for its meeting, with currency markets relatively quiet as the USD remains steady.
By Chris Becker A hesitant start to a busy week on the economy calendar with US stocks treading water as oil prices dropped in anticipation of the upcoming OPEC meeting, while European bourses fell on a weak Asian lead. This was despite the Euro retreating from its lofty heights as the USD reasserted strength against
by Chris Becker The end of another week of trading here in Asia and its all about keeping the ship steady until the Americans wake up again. Aussie stocks fell with most Asian bourses putting in scratch or slightly positive sessions. The USD gained somewhat against Yen and Aussie dollar but the Euro continues to