Australian Dollar

Forex did a full-blown reversal Friday night.

Stock markets are relatively upbeat here in Asia despite the risk off mood from overnight caused by the “too good” private jobs figures that are pointing to a tapering by the Fed if tonights US employment print also goes into the “too good” category.

Risk markets played the taper game last night with the latest US private jobs data report sweeping aside any notions that the Fed will hold off on tapering their bond buying program, with the latest ISM service survey also showing a huge rebound in the US economy.

After a week of going nowhere, forex lit it up last night as we approach tonight’s US jobs report.

Stock markets are performing while again in Asia with Chinese bourses again pulling back while traders and bots in general look to moderate before going into tomorrow night’s US jobs report, the most important event on the economic calendar.

Risk markets were once again constrained by the upcoming US unemployment print tomorrow night with Wall Street barely clocking over some gains despite a good lead from Asian shares yesterday.

What is Australia’s secret weapon against China, I ask?

All markets are becalmed.

Again we’re getting a lot of mixed signals across stock markets at least in Asia with Chinese bourses pulling back while Japanese and local stocks lift higher, despite the lack of a lead from Wall Street overnight.

Wall Street returned from its long weekend and at first was ebullient but sold off all the gains throughout the end of the session, finishing with a scratch result.

Forex was calm again last night as range trading has taken the place of longer-term position while the market waits for critical new data such US payrolls this Friday.

A mixed tone across risk markets here in Asia with the lack of a lead from Wall Street overnight and only the RBA meeting giving any proper catalysts for traders to work on, with currency markets lifting slightly against USD, particularly Pound Sterling, with gold continuing to climb above the $1900USD per ounce barrier.

Markets were mostly closed last night for northern hemisphere holidays so not much in the way of price moves to report.

A muted tone across risk markets here in Asia with the lack of a lead forthcoming from Wall Street due to the long weekend holiday in the US partly to blame.

Wall Street reacted meekly to the first Biden budget on Friday night, ending the trading week with a zero result.

We’ve been expecting a pop in US inflation over Q2 and it did not disappoint.

Quite a mixed trading session to end the week here in Asia, with Japanese stocks soaring while Chinese bourses are relatively steady following a late surge on Wall Street overnight.

Stock markets were nominally weak overnight until after the Wall Street close, with economic data in the US not inspiring but keeping the stimulus floodgates open.

As we head into tomorrow night’s US core PCE read, markets were largely calm though commodities rebounded after a recent battery.

A muted trading session here in Asia, echoing overnight tones with the stronger USD weighing on risk markets.

Credit Suisse with the note: The past week has seen a further consolidation within established ranges in the G10 complex, with the best relative performances coming through the EM space among EMEA currencies, in particular the CE3 which are benefiting from local rates re-pricing in the face of strong growth and rising inflation risks.

It was all about the USD overnight in a nearly uneventful trading session as European and US stocks were largely unchanged while the major currency pairs all pulled back strongly as Treasury yields firmed slightly.

More positive moves across the board here in Asia, save local stocks as the Aussie dollar blipped higher alongside the Kiwi as the RBNZ meeting resulted in both currencies jumping higher against the USD.

According to Nomura, right now they do: Speculators look ready to take risks again; global macro hedge funds increasingly selling USD in their hunt for yield As the curtain falls on “sell in May” risk, speculative investors increasingly look ready to take risks again.

JPM on BTC sound and fury signifying nothing.