Asian stock markets are likely to finish the week on a sour note as the expected Brexit extension from the EU plus some very modest inflation and economic figures from Japan combined to dampen overnight positive sentiment. Australian stocks were the only ones to advance as the Aussie dollar remained depressed after its overnight reversal
By Chris Becker A return to risk overnight with US stocks rebounding as the USD also took back gains following the reversal from the FOMC meeting fallout. European stocks were less sanguine with only the FTSE rising as Theresa May headed to Brussels once more while the BOE held fast on interest rates. Looking first
Asian markets are mixed today in response to the overnight FOMC Meeting with much higher undollar assets providing headwinds. Japanese stock markets were closed, while the Yuan appreciated as the PBOC set the strongest rate since July last year. The Shanghai Composite is back over 3100 points, currently up 0.7% to 3113 after yesterdays sudden
By Chris Becker Key takeaway from the Fed Meeting overnight: USD and stocks down, undollar’s up. The USD lost ground against, well nearly everything – from gold to Aussie to Euro – as the FOMC went nearly full dove, cutting the 2019 rate rise expectations from 2 to 0, and thus inflation expectations with it.
Asian share markets are down again today with risk sentiment slumping both locally due to the dour speech by RBA Assistant Governor Bullock while regionally caution reigned as traders await tonight’s Federal Reserve FOMC meeting. Currencies slid against USD as a result, with a lower Aussie the standout. The Shanghai Composite has dropped suddenly after
By Chris Becker As the US/China trade talks look to resolve themselves soon, risk markets had a pause overnight with US stocks flat overnight while European equities rose sharply on the back of better than expected ZEW sentiment survey and UK job figures. Pound Sterling is cooling down as the potential for a longer term
A generally poor session across stock markets here in Asia with a run to Yen not helping while the Aussie dollar remains elevated, pumping the brakes on any advance on the ASX200. The Shanghai Composite is having a breather, after yesterdays 2% pop, currently down about 0.2% to 3091 points but still looking strong. The
By Chris Becker US stocks rose overnight while the fortunes for European equities diverged as the FTSE ran higher, the continent trailed as the lower Pound Sterling and the volatile Euro combined with traders waiting for this week’s FOMC meeting put some risk sentiment to rest. Looking first at the action on the Asian session
Following the very positive finish on Wall Street on Friday night, risk markets here in Asia have popped higher, with the Australian dollar advancing strongly, albeit on the tightening yield spread with US Treasuries. The Federal Reserve meeting this week will affect sentiment, along with a series of important economic releases – let alone the
By Chris Becker Looking at Chinese stocks first, where last week saw the Shanghai Composite followed its pause with a lower high, albeit finishing the week above the 3000 point level. This market has gotten way ahead of itself with momentum extremely overdone so I’m looking for a potential new low below the last two week
Today’s BOJ interest rate meeting came and went without much fuss, as Chinese markets were buoyed by higher house price growth. The USD retreated against all the majors, particularly offshore trading in Yuan. The Shanghai Composite was doing well mid session but is now heading towards 3000 points, still up over 0.5% to end the week
By Chris Becker US stocks stalled overnight as the USD firmed following another desperate night of Brexit drama which saw the UK Parliament ask for a delay, sending Pound Sterling down. It was new home sales data that rocked the risk appetite, while German and French CPI prints were on target but still muted. Looking
It was a mixed repsonse to the trifecta of Chinese internal economic data, slightly overshadowed by the Japanese government looking to downgrade its growth forecasts, which sent Yen falling against USD. The Yuan fell too on the lower PBOC fix, while Pound Sterling continued its no deal Brexit reaction and sold off throughout the usually
By Chris Becker Despite the ongoing clusterf$%k that is Brexit, risk markets are all looking up with oil making a new weekly high while US stocks pushed to a four month high as the USD weakness continues to provide support. Pound Sterling went nuts again, this time on the UK Parliaments rejection of the no-deal
Asian stock markets are fighting poorly against a risk off sentiment with the fallout from the failed Brexit deal last night in the UK still reverberating. The Aussie dollar alongside the Kiwi has fallen while Yen remained firm with the latest consumer sentiment data locally hurting the Pacific Peso. The Shanghai Composite is selling off
By Chris Becker Brexit is dominating risk markets again, but an upbeat Wall Street – minus Boeing’s effect on the Dow – smoothed over the volatility, with Pound Sterling the only real casualty. The Aussie/Kiwi cross made a new yearly low as the Aussie dollar kept up its advance on USD as the latest CPI
Asian stocks are doing well following the solid Wall Street lead with the USD still looking weak heading into tonights CPI print. The Australian dollar has continued its bounce off the 70 cent level while Yen has sold off giving Japanese stocks a small boost to start the week. The Shanghai Composite is putting on
By Chris Becker Risk appetite powered back overnight due to the better than expected US retail sales numbers, with tech stocks leading the way on Wall Street. The USD also lost more ground, spectacuraly against Pound Sterling which roared back to life as Brexit negotiations took another turn overnight. Looking first at the action on
Asian stocks are mixed following the disappointing NFP print on Friday night, although it seems risk off has been priced in by most markets as the USD takes a breather. The Australian dollar has bounced off the 70 cent level while Yen has sold off giving Japanese stocks a small boost to start the week.
By Chris Becker Looking at Chinese stocks first, where last week saw the Shanghai Composite double down on its recent epic breakout, getting well above the 3000 point level before a late week selloff saw some sanity prevail. This continues to be due to more optimism over the US/China trade talks plus the possibility of
The big fall in Chinese trade for February has seen a big slump on stock markets across Asia, not helped by the poor showing on transatlantic markets as the ECB plays catchup to the prospect of a Euro-wide recession. Yen has surged against the USD on the safe haven bid, while the Aussie dollar is barely
By Chris Becker Wow what a fun night for currency traders! As I stock up on a large double double to get the caffeine going, the big takeaway to write down is the dovish turn at the ECB, where fresh stimulus is on offer, sending the Euro plummeting. This didn’t translate into confidence, obviously, so
By Chris Becker US stock markets fell overnight as the trade deficit figures blew out more than expected, with risk sentiment not helped by the OECD lowering its forecast for global growth. This pulled down commodity currencies, with the Aussie dollar doubly hit on the poor GDP yesterday as it looks certain the RBA must
By Chris Becker US stock markets have closed where they started again despite a better than expected non-manufacturing ISM print overnight, which initally sent the USD higher but then faded against the majors later in the session. Today its the 4Q GDP print for Australia which will be obviously sensitive to the Aussie dollar and bonds.
Risk is taking a holiday here in Asia in response to the slump overnight on Wall Street with the USD gaining strength against most of the majors not providing the usual help. The RBA meeting also failed to ignite animal spirits with the Australian dollar largely unchanged. The Shanghai Composite is the standout, up 0.4%
By Chris Becker Risk markets are turning cautious despite some potentially positive good news around the US China trade talks, with USD continuing its bull run against the major currency pairs. US stocks were down nearly 1.5% lower mid session before recovering to mild losses as gold fell to a two month low. Looking first
A generally positive end to the week here in Asia with most stock markets putting on meaningful gains, buoyed by positive numbers out of China and Japan, plus a higher USD suppressing local currencies. The Shanghai Composite is ticking along, only up a few points going into the close and remaining above 2900 points at 2945.
by Chris Becker Overnight the Australian dollar slumped in reaction to the US 4Q GDP print, falling to just below the 71 handle against USD and has maintained that weakness throughout the session today. The latest Caixin manufacturing PMI blipped higher to almost reach the expansion point at 50, coming in unexpectedly at 49.9: source: