By Chris Becker Yet another night of second guessing again on overseas markets with stocks putting in scratch sessions while the USD oscillated against many undollar assets with Bitcoin falling, gold rising alongside Euro and Aussie dollar sinking to a new weekly low. Looking at the action on Asian markets yesterday where the Shanghai Composite
Traders across the region are twiddling their thumbs as stock markets hold steady following a lacklustre night on the other side of the world for risk taking. The local NAB Business Confidence print flatlined with the most recent Chinese CPI edging higher but these catalysts weren’t enough to get things moving. The Shanghai Composite is
By Chris Becker Markets were kept guessing again overnight on the direction or implementation of the December 15 China tariffs with a clawback of Friday nights exuberance on both sides of the Atlantic. Currency markets were quiet alongside bonds with Wall Street slipping on the lack of any good news, although Pound Sterling rallied as
Stocks across the region had a less than mild response to the stonking NFP print on Friday night, with gains only half that of their northern hemisphere brothers. This was due to the latest Chinese export figures which disappointed, and strong Yen and Aussie dollar to the USD. The Shanghai Composite only 2 points higher,
By Chris Becker Friday night saw the big event on the calendar – the latest US unemployment figures via the non-farm payrolls (NFP) – which set the tone for the rest of the month and indeed year for risk taking. The release easily beat expectations, driving the unemployment rate down and sending risk markets higher
Stocks are moving slightly higher across Asia desptie the scratch sessions on Wall Street overnight as a new round of optimism for the US/China trade quagmire gathers pace, just before the all important non-farm payroll/unemployment print later tonight. The Shanghai Composite is hovering just on the 2900 point level with little change going into the
By Chris Becker A mixed night on risk markets with the positive sentiment fading goign into the weekend, as no news on a US/China trade deal is construed as bad news. Wall Street ended with a scratch session while European bourses retreated slightly in the wake of flagging retail sales numbers. The USD was weaker
Stocks are advancing across Asia in the wake of optimism that a trade deal between US and China can be struck before the December 15 tariffs kick in, with the ASX up over 1% while the USD treads water against most of the majors. The Shanghai Composite has lifted nearly 0.7% and looks set to
By Chris Becker A big reversal in sentiment overnight as stock markets reacted positively to the speculation that the December 15 US/China tariffs may be avoided with a secure trade deal. The USD sold off as a result, alongside bonds, as oil prices also spiked more than 3% as the latest US ISM Services print
Another rough day here on Asian stock markets with some fluctuation in USD weakness as the upcoming December 15 China tariffs are seeming to firm. A big spike in the offshore Yuan – up to a month high 7.07 level – plus a firmer Yen is keeping risk taking at bay, although European futures are
By Chris Becker Again, markets are in the thrall of a US President’s comments, with Trump threatening tariffs against France – while in France and celebrating 70 years of the NATO Alliance – and conceding that the US/China trade deal may not go through until the election. US stocks markets flopped as a result with
A mixed day across Asian stock markets with the slump on Wall Street overnight reflected across most bourses except Chinese, which bucked the trend. The RBA decision to hold was the highlight of the day, as the Aussie dollar reached a new high beforehand as the USD weakened, the realisation that no more cuts sent
By Chris Becker Last night saw a big risk inversion on trade concerns as the Twit in Chief rolled out new steel tariffs and blamed the Fed and high USD, just as the latest ISM Manufacturing print came in with a surprise fall and contraction, particularly in employment. The USD tanked as a result, sending
Asian stock markets have started the week on a strong note despite the slump on Wall Street on Friday night, namely because of the weaker Yen sending Japanese stocks higher and a firm Chinese PMI print. The USD has weakened against Aussie and Kiwi which have gapped higher on the usual Monday morning open while
By Chris Becker Friday night saw the return of US traders to their desks and waited for any news about the ongoing US/China trade negotiations, with a mild risk-off session the result. Wall Street didn’t make a new record high – shock and horror – while bond yields fell as markets price in a near
Asian stock markets have gone into risk off mode going into the weekend, despite the Black Friday retail orgy but mainly due to lack of direction from closed a Wall Street. A speech by BOJ Governor Kuroda has rattled a bit of confidence in Japan and elsewhere as he states “fiscal and monetary policy is
By Chris Becker US markets were closed for thanksgiving overnight, leaving other risk markets to their own devices as the Chinese reaction to continued pressure on their oppression in Hong Kong made a small impression. A lack of further economic releases of any import keep risk aversion contained to a slight dip in European stocks
Asian stock markets are quite mixed across the region with local shares buoyed by Westpac’s call for two more rate cuts by the beleagured RBA, which sent the Aussie dollar down, while Chinese stocks continued their pullback as the Yuan fix hovered around the 7 handle. No news on the US/China trade deal is good
By Chris Becker Overnight risk markets took a step back as the USD cooled on its strengthening trend against the major undollar assets, with gold moving higher alongside Euro and Yen. Wall Street advanced only slightly while European markets slipped and it looks like a cool day of risk taking here in Asia. Looking at
A solid session for most Asian stock markets although this hasn’t translated into a full risk on response from S&P and Eurostoxx futures as currencies were unable to move in their risk proxy directions as usual, Yen in particular. The gold price and Yuan fix stayed steady while Bitcoin attempted but failed to breakout of
By Chris Becker A big surge on overnight markets with US stocks making new record highs in the wake of fresh optimism surrounding the US/China trade deal and the run up to the Black Friday retail orgy. Tech stocks led the way while European bourses also had a solid night with more ECB wonkery explaining
Weekend news of a possible resolution or movement of some kind in the US/China trade talks although the IMF is right to say this might be just domestic politics posturing as one country tries to stabilise internal struggle while the other tries to kick out a corrupt autocrat. Does it matter which? Gold fell again
By Chris Becker US all the way on Friday night with Treasuries, the USD Index and Wall Street all advancing in tandem on the back of (spurious) claims by Trump that the US/China trade talks are advancing well – even though he later contradicted that in a Fox news rant. In Europe, new ECB President
Another generally mixed day in Asian risk taking given the poor performance on Wall Street overnight as the stronger USD weighs on markets. Chinese stocks are really struggling here, with the Shanghai Composite down nearly 0.6% to be well below 2900 points although the Hang Seng Index has found a modicum of buying support, currently
By Chris Becker The USD re-asserted itself overnight as stock markets stumbled surrounding the continued lack of good news emanating from US/China trade talks, with Wall Street putting in minor losses. Oil rallied although this didn’t help commodity currencies as the Canadian Loonie dropped on domestic comments, dragging the Aussie and other proxies with it.
Another sea of red across Asian stock markets today following the same wave overnight on Wall Street, despite the Chinese trying to shore up optimism that trade talks won’t stumble and fall into the 2020 calendar year. Moody’s downgrade of the Australian state budgets weighed locally with the Australian dollar struggling to get back above
By Chris Becker Overnight markets were rocked again as the possibility of the US/China trade talks extending well into 2020 firmed, as domestic concerns outweighed the bigger picture, stumbling on tariffs again. US stocks are down nearly 1% going into the close while the USD has firmed against most of the majors. Looking at the
No surprise that risk markets are wobbling on any sniff of trouble surrounding the US/China trade deal, as Trump throws the word “tariff” in the air again, which sent US stocks lower overnight, leaking into safe havens here in Asia. Chinese stocks have reversed their recent bounceback, with the Shanghai Composite slumping nearly 0.8% lower
By Chris Becker US stocks lost ground as Trump fumbled around comments regarding Chinese tariffs, pushing industrials down while tech stocks had a slight tick upwards, as the USD lost ground against the undollars. Pound Sterling was the exception as the Tories continue to par back in the polls while Bitcoin cracked below the $8000
Japanese stocks are weighing on Asian risk taking as selling exhaustion is seeing Chinese markets both on the mainland and in oppressed Hong Kong surge higher. The USD remains under pressure although a lack of buying in Aussie dollar is seeing the local currency fall short of the 68 cent level. Chinese stocks have continued
