Australian Dollar

Treasury bond yields continue to rise in the wake of the great-but OMG taper could be coming sooner – NFP print on Friday night with Wall Street and European stocks hesitating, not helped by the opposite of progress (aka Congress) in getting an infrastructure spending package done in the US.

Forex markets are readying another hammer blow for the Australian dollar as Fed taper warms up with Chinese slowing to create a perfect storm.

Asian stock markets start the new trading week in mixed fashion following Friday nights stellar US unemployment print with undollar assets continuing their falls while Japanese markets remain closed following the end of the Olympics.

Some big capitulations from Goldman over the weekend as reflation and commodities bull market fall apart.

Its that time of the month again with the latest jobs figures from the US – aka non-farm payrolls or NFP – setting the risk taking tone for the rest of the risk complex until the next print in early September.

Forex markets did as expected after good US jobs on Friday night.

Asian stock markets are finished the week in a somewhat mixed fashion as traders position themselves for the US unemployment print later tonight.

DXY was is still holding onto its weekly gains from hawkish Fed speakers.

Wall Street put in new record highs as the wobbly nature of risk markets for the past few weeks finally relented with an ebb to the upside.

Asian stocks markets are having another mixed session as we head into the end of the trading week, not helped by Chinese stocks resuming their tech selloff, local shares recoiling from yet another lockdown while Wall Street wobbles on another Fed hawks comments.

A strange one-two punch overnight on the back of US economic prints, namely a disappointing private jobs data print and then a booming service PMI, all wrapped in a nice ball by the latest round of Fed hawkish comments sending Wall Street lower and currency volatility through the roof.

Forex markets took a walk on the wild side on August 4, 2021 as data clashed with the FOMC to produce big two-way moves.

A bit more calm has returned to Chinese equity markets although Japanese stocks are still having the wobbles following more COVID problems in Tokyo, but generally, Asian risk markets are having a good mid-week session that should translate to further gains tonight with Eurostoxx futures rising.

Equities bounced back on Wall Street as corporate earnings overshadowed everything else, although stronger US factory orders and more Fed talk supporting a gradual taper helped as well.

Forex markets were largely calm on August 4, 2021.

The good start to the trading week as stumbled already here in Asia with the fallout from last nights US ISM manufacturing print and growing concerns over COVID spilling over once again as equities pullback.

Goldman with the note.

A big retraction in Treasury yields overnight on the back of a disappointing US ISM Manufacturing print saw Wall Street give pause while commodities sold off sharply.

Markets are beginning to send signals of increasing distress.

A much better start to the trading week here in Asia as Chinese tech stocks rebounded after last week’s bloodbath.

Nordea with the note: If the Doves wanted an excuse to postpone all taper talk, then they needed to look no further than the Delta strain, yet the Fed refrained from using it as an excuse.

Corporate earnings were supposed to give Wall Street a lift on Friday night but some cautious revenue estimates from big tech saw a continuation of the risk off mood that has been gripping Asia most of the week due to the Chinese tech stock selloff.

Not a very positive end to the trading week here in Asia as the bath of blood in Chinese returned today after a very short reprieve, spilling over into other bourses as a result.