Chris Becker

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Macro Afternoon

by Chris Becker The trading week finally gathers pace here in Asia with the strong lead on Wall Street converting into broad gains across the risk complex.  Gold is trying to have another go at its previous record high, slipping a few dollars as the four hourly chart exhibits a bearish rising wedge pattern (or

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Macro Morning

By Chris Becker  You can’t beat the optimism out of Wall Street which surged again on tech stocks exuberance, this time on Microsoft taking over TikTok, plus a big beat in US manufacturing conditions. This will lift all boats here in Asia while the USD lifted slightly against the majors, with gold putting in another

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Macro Afternoon

by Chris Becker A very mixed start to the trading week here in Asia with share markets all over the place given the strong lead on Wall Street combined with the inversion of strength in the USD.  Gold is having another go at its previous record high, pushing ever higher as it tries to make

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Macro Morning

By Chris Becker  The very interesting divergence on global stock markets continued on Friday night with Wall Street going gaga for tech stock earnings while the rest of the civilized world took a deep breath and realised that COVID-19 troubles are not going away, with steep falls across the remainder of the risk complex. The

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Macro Afternoon

by Chris Becker A very rough finish to the week here in Asia with sharp falls on most share markets, replicating the falls in Europe but not Wall Street overnight. Gold is having another go at its previous record high, now making a triple top on the four hourly chart to currently be at the

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Macro Morning

By Chris Becker  An interesting divergence on stock markets overnight as European bourses tanked, falling in line with the falls in 2Q German GDP and increase in Eurozone unemployment, but Wall Street rallied despite the biggest single quarter decline in US GDP history, proving that markets do not equal economics! Coupled with the huge drop

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Macro Afternoon

by Chris Becker The mood is mixed again here in Asia despite a small surge overnight on Wall Street as the Federal Reserve re-engaged its dovish narrative. Gold has been unable to crack its overnight high, slipping to the $1958USD per ounce level with silver looking even weaker below $24USD per ounce: In mainland China,

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Macro Morning

By Chris Becker  After a quick pull, the Fed gave markets a solid shove higher overnight in its latest FOMC meeting, keeping its tune in the narrative ballpark to “do whatever it takes” to support the US economy. The USD fell even more to record lows against the majors while Wall Street rallied alongside commodities,

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Macro Afternoon

by Chris Becker The mood remains dour here in Asia with most stock markets on the decline alongside the USD, with the volatility still prevalent in precious metals as we head into the next FOMC meeting. Gold is firming but steady at the $1950USD per ounce level after almost hitting $2000 on the spot price

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Macro Morning

By Chris Becker  The Fed seemingly pulled the punchbowl overnight, extending its lending program from the September deadline which saw bond yields fall sharply, pulling Wall Street down with it. The volatility in precious metals plus a downbeat consumer confidence print didn’t help restore risk sentiment with European stocks also on the decline. Commodities were

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Macro Afternoon

by Chris Becker Asian stock markets have again had a mixed session following yesterday’s faltering start the trading week with a mid session reversal of risk taking as the gold/silver/Bitcoin speculative nexus suddenly reversed their bubble like ascent. Gold almost hit $2000 on the spot price while Bitcoin made a new yearly high. In mainland

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Macro Morning

By Chris Becker  Another shift in sentiment overnight as the risk complex hinges on good economic news and possible coronavirus vaccine developments. Wall Street swung back in favour as the latest durable goods order surprised slightly on the upside, while in Europe the closely watched IFO survey gave some hope yet stock markets were lacklustre.

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Macro Afternoon

by Chris Becker Boom! There goes gold… Boom! There goes silver… Boom! There goes Bitcoin… Asian stock markets have opened in mixed fashion to start the trading week with all activity overshadowed by all the moves in undollar assets, lead by gold – now above its previous record high, dragging silver and Bitcoin, which gapped

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Macro Morning

By Chris Becker  Wall Street and the rest of the risk complex are truly dicing with danger, with European stocks slumping on Friday night while US bourses barely kept above key support levels as rising US/China tensions, and concerns over the spreading Trumpvirus in the US and the lack of any fiscal measures weighed everything

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Macro Afternoon

by Chris Becker Asian stock markets have reacted poorly to the overnight slump on the NASDAQ with concerns mounting about the lack of breadth in the rally, plus the economic fallout between rising US/China tensions. In mainland China, the Shanghai Composite is down over 2% to 3250 points, accelerating in the selloff while in Hong

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Macro Morning

By Chris Becker  Disappointing US jobs data and the rising US/China tensions, coupled with ridiculous narrowness of US stock advances pulled back Wall Street and European bourses overnight as we head into the end of the trading week. The USD is mixed against some of the majors with stalls on Pound Sterling and Aussie after

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Macro Afternoon

  by Chris Becker Sentiment is mixed again here in Asia with Japanese stocks having a long weekend, while Chinese stocks are falling slightly as a result of the rising Chinese/US tensions. The USD is still weak against all the majors with Bitcoin finally showing some signs of life during the session as gold keeps

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Macro Morning

By Chris Becker  European stocks sagged while Wall Street surged despite another record day of new coronavirus cases, deaths and hospitalisations across the USA. The USD continues to slump against everything, with gold and silver soaring once again overnight, while all other industrial metals slipped or were steady. It looks like a green day across

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Macro Afternoon

#747Farewell to the last 747 Qantas flight today….sad times for aviation by Chris Becker Sentiment has shifted again to a risk off mood with stocks struggling here in Asia today, reflecting the fall in tech stocks overnight on the NASDAQ. The rout in USD has abated somewhat, although the Aussie dollar, gold and silver remain

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Macro Morning

By Chris Becker  Sentiment remains super positive as the EU stimulus and fiscal sharing package and vaccines news continue to propel equity and commodity markets higher, while at the same time sending the USD to a five month low against nearly everything else. The undollar currencies, plus gold and silver, all had sterling sessions overnight,

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Macro Afternoon

by Chris Becker News of a potentially successful coronavirus vaccine is sending stocks higher across the region, with local stocks leading the way even as the Federal government slashes its economic stimulus package come September. Gold is soaring ahead as well to a new high while everything else except Yen is also rising against USD.

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Macro Morning

By Chris Becker  The mild start to the trading week here in Asia translated into much firmer gains once Wall Street opened, due to the promising vaccine news and potential fiscal stimulus from the EU and US Congress. The NASDAQ blew out over 2% higher to a new record high, with stock markets given the

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Macro Afternoon

by Chris Becker Outside of Australian stocks, its been a good start to the trading week here in Asia, with the somewhat positive mood from Wall Street on Friday translating into mild gains today. Currencies are relatively quiet, although Euro is shooting out the gates and gold is starting to look bullish going into the

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Macro Morning

By Chris Becker  Global stock markets saw a mixed end to the trading week with Wall Street trying in vain to burst out of its recent funk with a series of solid corporate earnings, although Friday night saw a rise in bond yields and fall in the USD, as expectations of more upside in equities

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Macro Afternoon

by Chris Becker The soft mood in Asia continues as we end the trading week as stock markets remain in retreat mode and wipe out the start of week gains. The USD is reversing slightly against the majors, with gold just hanging on after its fallback last night while other risk assets are also stable

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Macro Morning

By Chris Becker  Global stock markets are getting wobbly again with Wall Street stumbling despite good earnings from major banks and solid retail sales data for June. The ECB didn’t help or hinder with its latest meeting, although USD continued to firm from yesterday’s reversal with the Australian dollar and other commodities all fell overnight

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Macro Afternoon

by Chris Becker A soft mood in Asia with stock markets in retreat mode and erasing the start of week gains. The USD is moving higher against the majors, except gold which is still strong, and Yen starting to move higher as safe haven buying accelerates as coronavirus cases continue to spike across the world.

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Macro Morning

By Chris Becker  Stocks shot out of the gate on the European open last night, and technically price charts are exhibiting breakouts across the risk complex, but sentiment remains complicated at the US earnings season gets underway. Risk was pushed higher on bullish vaccine news, not anything substantial like the slowing of US consumer spending

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Macro Afternoon

by Chris Becker Outside of China, stocks have continued their strong surge on the hopes of a coronavirus vaccine and for a strong showing in US earnings. Gold remains elevated above the $1800USD per ounce level while Bitcoin is struggling again at a new daily low. In mainland China, the Shanghai Composite is down nearly

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Macro Morning

By Chris Becker  Risk sentiment swung wildly again overnight echoing the previous session as the US corporate earnings season got into full swing. While European stocks lagged, Wall Street surged after the latest CPI figures were higher than expected and vaccine news overshadowed continued bad news around COVID-19 cases. Commodities were in a holding pattern,