Australian Dollar

Markets were hit last night as COVID-19 worries resurfaced.

Asian share markets are generally lower in line with the selloff of tech stocks on Wall Street overnight with only Chinese shares advancing.

Wall Street fellback from its record highs after Congress decided to hit the tech heavies with more anti competition legislation while the USD was also effected as Euro spiked to a new weekly high above the 1.20 handle.

As much of the MSM celebrates China’s post-COVID economic recovery, mistaking short-term catch-up growth for something more sustainable, MB has been arguing quite the opposite.

Asian share markets are generally moving higher although local stocks are stalling despite a very firm lead from Wall Street on Friday night.

The last two weeks have seen new historic highs across equity markets with bullish economic news helping lift risk spirits across the complex.

Via the excellent gents at Nordea: Could Bitcoin undermine the dollar and the United States?

As the US prepares its annual currency manipulators report, TD Securities takes at a look at who’s doing the dodgy: Asia’s Currency Manipulators •The US Treasury Report on trading partners’ FX policies is likely to be released soon, possibly this week.

Credit Suisse with the note: April thus far has seen global equity markets in the main continue their steady march higher, led as usual by the pied piper of US equity markets.

DXY is back to its falling regime after the US inflation print.

UBS has summed up my view on gold pretty well: We forecast a further weakening of gold (USD 1,600/oz end-2021) and recommend investors manage their gold positions more actively.

DXY took a hit for the global team last night as US inflation printed high but nowhere near high enough on core measures to upset the market applecart.

It was an evening of paralysis for the Australian dollar as markets wait for key US data.

The Australian dollar broke into the 75s again Friday night before rebounding.

The Australian dollar was stronger last night as the global stock surge carries on.

Last night the Australian dollar was bashed lower again as the US dollar bull market case firms up.

DXY took a hammering last night as US yields fell back from the recent charge higher.

Pre-Easter trading had a still strong US dollar as jobs growth accelerated dramatically.

Asian share markets are moving higher going into the Easter break with the firmer lead from Wall Street and some better than expected economic prints helping risk sentiment.

President Biden’s new big infrastructure plan didn’t shake up markets as expected with Wall Street absorbing the proposed tax increases while the USD finally gave up some ground against the major currencies after being super strong all week.

The Australian dollar was weak overnight despite a powerful relief rally for anything and everything that has been recently squashed by rising US yields and greenback.

Asian share markets are pulling back despite very solid manufacturing PMI prints in China and the end of fiscal year window dressing in Japan.

The two arguments that support Bitcoin as some kind of worthwhile asset for the future are worth revisiting again today.