Chris Becker

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Macro Afternoon

Asian stocks have shrugged off the poor confidence from overnight and are bidding higher going into the weekend close.  Chinese stocks are leading the charge with the Shanghai Composite up nearly 0.5% to 2897 while the Hang Seng Index is doing the same, up to 26173 points. Price had been threatening the high moving average on the daily chart, but buyers

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Macro Morning

By Chris Becker  No room for optimism on overseas markets last night as the lack of direction in Asia yesterday translated into mild selling on both sides of the Atlantic. Treasuries sold off slightly while gold retraced on some slightly hawkish Fed comments. Looking at the action on Asian markets yesterday, where Chinese stocks were quite mixed

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Macro Afternoon

Stock markets in Asia are oscillating between small losses and tiny gains, with traders looking to the Fed again as it holds it symposium tonight in Wyoming. Chinese stocks are quite mixed with the Shanghai Composite again hovering on another scratch session going into the close, up three points to 2883 while the Hang Seng Index is the

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Macro Morning

By Chris Becker  Some more stability or instability depending on your point of view returned to equity markets overnight with the Fed minutes absorbed without much fuss as no bad macro news equating to higher risk sentiment. Weekly oil inventories were much less than expected, sending Brent higher while WTI crude was stable, as safe

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Macro Afternoon

The bounce has deflated here in Asia although Chinese stocks are just holding on to the inversion in risk sentiment overnight with the USD gaining slightly today. The Shanghai Composite is hovering on a scratch session going into the close, currently unchanged at 2877 points while the Hang Seng Index is also unmoved at 26231 points. Price

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Macro Morning

By Chris Becker  The bounce is over! An ounce of disappointment is bringing a pound of pain to stock markets overnight, with both sides of the Atlantic closing at their session lows as Trump states he’s not ready to do a deal with the Chinese over their long running trade dispute. The USD was weak across

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Macro Afternoon

The bounce continues as stock markets across Asia lift again following last night’s rally on Wall Street, with the currency market relatively quiet although some USD weakness has crept in late in the session. Chinese stocks have switched sentiment to the worst performing, with the Shanghai Composite falling going into the close, currently down 0.2%

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Macro Morning

By Chris Becker  The bounce is on with no bad news equating to stronger risk sentiment overnight, helped along by comments that US/China trade talks are “progressing” (alongside the Greenland purchase!) Talk in Germany about more stimulus also helped continental stocks but not the Euro which slumped to a new low, while the Australian dollar

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Macro Afternoon

The bounce is on as equity markets in Asia catch up to the relief rally from Wall Street on Friday night, with the bond market selling off slightly, temporarily staving off concerns over yield curve inversions. This all seems to be on a flimsy promise of more talks between China and the US on trade,

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Macro Morning

By Chris Becker  No news means good news for risk markets with Wall Street rallying on Friday night, with currency markets stabilising although Pound Sterling got a bit excited on more hard line Brexit gyrations. The USD remains steady while safe havens like Yen and gold are also largely unchanged with only Euro dropping on

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Macro Afternoon

Some stability has returned to risk markets as bond yields rise slightly while the USD firms against commodity proxies and the Yuan proper.  Going into the European session, Euro is selling off already while gold has retraced from its recent record high. The Shanghai Composite has continued its little rebound to finish 0.3% or so higher to

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Macro Morning

By Chris Becker  Risk markets remain teetering on the edge overnight with US stocks treading water, buoyed by a better than expected retail sales print, as traders work out what to do in the face of global recession fears. More stimulus from the ECB in September sent bond yields further into negative territory while the

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Macro Afternoon

A bath of blood on Australian share markets with the rest of the region escaping most of the volatility today, following big falls on Wall Street overnight. Gold remains bid while the Australian dollar was largely unchanged after the latest unemployment print. Concerns over yield curve inversion continue with the Australian 10 year yield down

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Macro Morning

By Chris Becker  The dead cat is quite dead, its not resting. Wall Street caved in overnight, falling 3% as no news meant bad news as everyone saw through Trump’s tariff trick as just that, with macroeconomic realisations unfolding instead. It was a race to safe havens again, with Yen and gold rising, while Euro tumbled

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Macro Afternoon

Markets are in a much better mood as the Christmas tariff surprise by Trump is alleviating shorter term concerns over the US/China trade war. Tonight however, the focus will be on Europe as the latest GDP print for the EZ will follow last night’s dreadful German ZEW Survey. In Asia today, the slump in Chinese

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Macro Morning

By Chris Becker  A reduction in US tariffs and timeline was behind a rebound on Wall Street and the USD overnight with concerns over the growing trade war with China overshadowing a stronger than expected CPI print for July. The German ZEW Survey slumped but was ignored by European equities as the Euro fell on

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Macro Afternoon

Markets are in a mixed mood as we head into the European session as Brexit, Itali-exit and Tianneman Square Part Deux demonstrations put a damper on risk appetite, with most stock markets off while the USD remains firm against most of the majors. The Shanghai Composite has given up after its initial good start to the week yesterday,

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Macro Morning

By Chris Becker  Trade war concerns are still weighing down on risk sentiment across global markets with Wall Street falling over 1% to start the trading week on a bad note, as everyone watches dead cat bounces develop on their charts. The unrest in Hong Kong plus the chance of new snap elections in Italy

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Macro Afternoon

A much better than expected start to the trading week here in Asia with the PBOC keeping the Yuan very weak, still well above the 7 handle against USD, with most stock markets putting in light rises or scratch sessions. The Shanghai Composite has finally found some momentum, jumping over 1.2% to 2808 points while the Hang Seng

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Macro Morning

By Chris Becker  Friday night saw the return of the short sellers and the end of what looked like a sustainable bounceback in equity markets. Wall Street closed sharply lower as the prospect of more fracas from the US-China trade war emerged, as the PBOC continues to wipe out the Yuan while Trump targets the Fed

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Macro Afternoon

A mixed day to end the trading week here in Asia with the PBOC keeping the Yuan nice and weak, still well above the 7 handle against USD, with most stock markets putting in scratch sessions. Meanwhile, the Shanghai Composite has been unable to gain any momentum, slumping and down over 0.4% since the return of the

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Macro Morning

By Chris Becker  The short sellers are getting wiped out as stability turns into dip buying overnight on Wall Street and in Europe rebounding solidly. US Treasuries fell slightly but yields remain super low while commodity markets firmed slightly on the better risk sentiment, with the Australian dollar coming back before selling off later in the

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Macro Afternoon

A much better day here in Asia as Yuan stabilises and risk sentiment improves from overnight markets. The commodity proxy currencys – Aussie and Kiwi – are in recovery mode as well, but interestingly, bond markets remain somewhat spooked with Treasury yields reaching a new low again. Meanwhile, the Shanghai Composite is finally playing catchup, bouncing nearly

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Macro Morning

By Chris Becker  More stability overnight on Wall Street with European markets also rebounding, while interest rates also rose on the better risk sentiment, the oil price fell again as the DOE inventory report underwhelmed. Looking at the action on Asian markets yesterday, where the Shanghai Composite continued to fall, albeit at a slower rate,

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Macro Afternoon

A mixed day is better than an across the board selloff with shares here in Asia putting in scratch sessions and some advances. The RBNZ has surprised all with a double cut at its interest rate meeting, sending both Kiwi and Aussie falling to new record lows, while gold has put in another big bid for

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Macro Morning

By Chris Becker  Some stability returned to risk markets overnight with the inevitable bounceback after so much selling, mainly due to the Chinese Yuan finally stabilising, lifting the USD and dragging equities with it. Wall Street lead the rise after European markets remained in the doldrums, while the oil price fell as other commodities struggled

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Macro Afternoon

A slowdown but not a cessation of selling activity in stocks across the region today, with currency and bond markets closely watching the Yuan fix for stability. The RBA meeting was a fizz but the Australian dollar leapt higher, while gold took a very small breather after its big surge overnight. Meanwhile, the Shanghai Composite continues

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Macro Morning

By Chris Becker  A bath of blood on equity markets overnight as the US/China trade war deepens with US stocks falling around 3% across the board, now wiping out all the nominal gains for the year. It was a run to safe havens instead, as gold surged alongside Yen while US Treasury yields plummeted to

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Macro Afternoon

As expected, it hasn’t been a good start to the week for Asian stock markets as the new round in the US trade war with China squashes all evidence of confidence that had been building up previously. Currency markets are feeling the heat too, with gold breaking out to a new daily high while its a

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Macro Morning

By Chris Becker  The end of the northern hemisphere summer break usually spells doom and gloom on risk markets, and that’s where the mood takes us at the moment with Friday nights US unemployment print unable to shake confidence back into the complex. More threats and cajoling on both sides of the US/China trade war