A mixed start to the week here in Asia as many stock markets and other trading venues are closed for holidays, with risk focused more on the Brexit brouhaha. The Shanghai Composite closed today for a holiday. The Hang Seng Index has gapped down significatnly, off nearly 2% to 27473 points, reversing most of last week’s build up
By Chris Becker The end of quarter re balancing on very bullish stock markets was overshadowed on Friday night by increased volatility on currencies, with the chance of an “unfriendly” Brexit sending Pound Sterling sharply lower. The other undollars also retraced from their recent rally as USD strength came to the fore with renewed vigor
As we head into the end of the week, the bulls remain fully in charge on global stock markets with Asian bourses looking set to end on a good note across the board. Not much data today, although some indication that the BOJ is unsure it will hit it’s inflation mark sent the Yen lower,
By Chris Becker It’s a bull market, that’s for sure as sentiment swung further into ebullience overnight with both sides of the Atlantic firing up their respective stock markets. While the USD soared against Yen as a risk proxy, its failing against the majors, particularly Aussie which has made another new high, while a stronger
A mixed day here in Asia, with no strong positive follow through from overnight markets as a lack of economic data and any substantive change on the daily Yuan fix. The ASX200 was the only casualty, while Chinese stocks are putting in scratch sessions. The Kiwi is surging versus the Aussie dollar on the surprise
By Chris Becker A modest night for US stocks with European bourses taking the most risk as the recent rise in Euro and Pound Sterling moderated. The Aussie dollar remains on a tear, up to the mid 72’s versus USD and strengthening on all the crosses. US Treasury 10 year yields remain above 3% with
The Bank of Japan kept guidance and its policy intact today at the latest meeting, with no negative impact on Yen or stocks, as the rest of Asia continue the risk on mood from overnight markets. While the Yuan appreciated slightly offshore today against USD, the new round of tariffs has not filtered through to
By Chris Becker Markets are pretty much side stepping the Chinese/US trade tariff imbroglio, with tech stocks in the US leading the way as safe havens like Treasuries and Yen are sold off. Ten year yields remain above 3% while the USD was mixed against the majors, as Euro and Pound Sterling tread water, while
Asian stock markets have reacted in a positive fashion to the Trump tariff announcement, fading the news, although locally the ASX200 dropped as the Aussie dollar lept higher on the RBA minutes and the easing of trade tensions (i.e a known known). The Shanghai Composite is in full reverse, currently up 1.4% going into the close
By Chris Becker A very wobbly start indeed to the trading week as trade tensions hang over the entire risk complex, with US markets now finally catching up to a distracted Trump, ready to unload another round of tariffs – for what reason, no one knows… Treasury 10 year yields hit their highest level since
A mixed start to the week here in Asia with Chinese bourses continuing to tumble on the back of increased rhetoric surrounding the trade spat between the US and China. Taking the air out of this foul wind is the fact that Japanese markets are closed with currency markets relatively sanguine. The Shanghai Composite is down nearly
By Chris Becker Another very interesting week on global markets as the potential for new trade deals is overshadowed by Trump’s insistence on smashing the Chinese with more tariffs. Brexit fallout is pushing Pound Sterling higher, lifting the Euro with it and taking some heat off the rise in USD, although the Aussie dollar is
A strong finish to the week here in Asia with all markets lifting across the region as the Chinese trifecta of economic prints – fixed asset invenstment, industrial production and retail sales – came in pretty much as expected. The USD has fallen further against the majors, save Yen, with the Aussie dollar looking like
By Chris Becker The ECB and BOE held fire overnight, but the interesting catalyst was the US CPI print for August, which came in lower than expected. This set the USD selling off against everything except Yen with buying support shifting back to equities again with a solid gain on Wall Street. Treasury yields fell
A big beat on unemployment today has spiked the Aussie dollar but sent local shares lower as Chinese markets move higher on the back of a slightly stronger Yuan. Currency markets are gearing up for the BOE/ECB one-two punch followed by a US CPI uppercut with volatility poured into the AUD as a result. The Shanghai
By Chris Becker Trade talks overnight sent the USD from its lofty heights, helping the antipodean currencies which also benefited from higher commodity prices, while tech stocks fell slightly in the wake of Apples new phones as bank stocks also weighed on the US markets. European bourses did better despite a higher Euro, oil is
Not the expected sea of green here in Asia given the positive mood on Wall Street overnight with most bourses closing down for the day. The USD remains strong against the majors as the PBOC continues to dump the Yuan. The Shanghai Composite has again closed in the red, slipping 0.3% to close at 2636 points as it heads
By Chris Becker Again US stocks are rallying, hiding the rising caution in other risk markets, with tech stocks lifting alongside energy issues as the looming hurricane off the East coast of the US sent oil prices up nearly 3% higher. European markets are less sanguine with a downbeat – but better than expected –
A slightly better day here in Asia, but Chinese stocks remain in a funk as they stare down the short barrel of Trump’s hands on the tariff trigger. Moving into a week of central bank meetings and following Friday’s NFP print, risk markets – particularly currencies – are nervous, with all eyes on US stocks
By Chris Becker The malaise in Asian risk markets did not infect others overnight with bourses on both sides of the Atlantic closing higher overnight in the absence of bad news or economic catalysts. On currency markets, developments in Brexit negotiations saw Pound Sterling spike to a new two week high against USD while the
A mixed start to the week here in Asia with most stock markets off but Japanese shares finish in the green due to a slightly weaker Yen. A slightly hotter than expected CPI print in China has taken the floor out of Chinese shares while the offshore Yuan was again sold off as the PBOC
By Chris Becker Another exciting week on risk markets after US stocks previously making a new record high, the US growing trade war with China hit a new low as the surplus hit a new high. Trump’s potential near doubling of tariffs has sent a shockwave through markets with most now in full correction mode. Tech
Not a good start for risk markets as Monday provides plenty of gappy action, absorbing the news and politics of the weekend. Stocks were off across the region as the USD firmed against everything but Yen, as safe haven bids kept the Japanese currency high. The Shanghai Composite has started the week poorly, currently 0.5% lower
By Chris Becker Another exciting week on risk markets with US stocks hitting a record high before retracing alongside European bourses which are still preceding with caution in the face of a growing trade war. Chinese economic data also took the rails off any recovery in local stocks while the falling Aussie dollar is keeping
Not the most positive end to the week here in Asia with stocks slipping into the red on the US-China trade talks breakdown. As Europe wakes up more peripheral news hits the wires, particularly the Italian budget but also continued pressure on Turkey with the USD flexing its muscles once again versus the emerging market
By Chris Becker Not a good night on risk markets with Trump again looking to put another round of tariffs on China, plus the USD belting the emerging market currencies around. At least economic data was on point, with German unemployment and inflation figures depressed as expected. Bond yields across the curve fell while the
Asian stocks have pulled back instead of bouncing higher in line with buoyant US markets overnight, unsettled by geopolitical tensions, particularly those brewing in Turkey. The Aussie and Kiwi dollar fell, the latter due to the lowest business confidence data in nearly a decade. The Shanghai Composite turns its slip into a selloff, closing 1% lower to
By Chris Becker Stocks soared overnight on the very solid US 2Q GDP print and expectations of new trade deals with Canada and Mexico still on the table. The USD was mixed against the majors, with the Aussie still falling on the Westpac independent rate hike, while Yen fell which should give Japanese stocks an
Asian stocks were relatively mixed with the near flat US lead overnight not providing the oomph necessary to push risk along. Westpac’s independent raising of its variable home rate saw the Aussie dollar fall in late trade, while the other majors are also slowly been reeled in by King Dollar going into the European open.
By Chris Becker Positive sentiment remains high as US stocks nudged their record highs up ever so slightly in the wake of a possible US-Mexico trade deal. European bourses were mixed with returning traders in the UK pushing the FTSE higher while the peripheral markets fell. USD pushed back slightly against Euro but is also still
