Australian Dollar

A quiet last day of trading before the Christmas break here in Asia with some mild raises across stock markets and low volatility in currency land.

We’re getting to the end of the trading year and performance comparisons of different asset classes since January 1st are being pumped out left right and center.

Action on risk markets overnight was relatively mild as Trump’s dumping of the Congress stimulus package was absorbed with aplomb by stocks, with rumors that the Brexit deal is almost sealed helping lift European stocks.

Asian stocks are regaining after their stumble yesterday, and despite the threatened veto by almost-former President Trump to stop the just-passed US stimulus package, S&P futures are on the mend as risk markets re-balance from that catalyst.

A mixed night on risk markets as the Asian close presaged downside volatility that didn’t eventuate on European markets, but kept Wall Street on edge with only tech stocks on the NASDAQ advancing as the latest US stimulus package didn’t do much to lift confidence.

Asian stocks are in full flight as the selling gains traction following the fallout from the UK lockout and the European lockdowns as the Congress stimulus package (let them eat cake basically) underwhelms.

Big round trip’s in prices across many risk markets overnight due to concerns over a new strain of COVID-19, leading to a leap in volatility that is sure to continue here in Asia.

Asian stocks are struggling to gain traction at the start of what is likely to be a low volume trading, following the less than stellar performance on Wall Street on Friday and the weekend news of more economic lockdowns across Europe.

Risk sentiment faded on Friday night across both sides of the Atlantic as European measures to contain COVID ramped up, putting pressure on their respective economies, while the lack of any measures in the US is sending the death toll higher and higher, as Congress does 2/5ths of SFA to engage meaningful stimulus.

No charts today.

Stocks are really struggling going into the end of week trading here in Asia after the mid week surge fades quickly as pessimism sneaks in.

More hopium is sending risk sentiment higher, at least on Wall Street as traders book a potential pre-Christmas stimulus package from Congress.

DXY is crashing: Australian dollar to the moon: All commodities too: And miners: EM stocks are still stalled: Dash for trash!

It’s risk on everywhere here in Asia as the bids go wild as optimism for a stimulus package from the US Congress firms yet again.

A bit of EU/UK trade deal hope, UK data that showed the labour market improving in October and getting worse again in November. Solid Chinese data (as usual) and US industrial production and TIC data later.

Via Credit Suisse: The strong rally continues to pause ahead ofour .7574/.7638 objectiveAUDUSD continues to consolidate as expected after reaching thebeginning of a cluster of long term Fibonacci retracements andour first core upside objective, starting at .7574–the 78.6%retracement of the entire 2018/2020 fall-and stretching up tothe 38.2% retracement of the entire 2011/2020 fall at.7624/38.

Risk sentiment was slightly mixed but still somewhat positive overnight with some minor gains across the Atlantic stock markets as traders remain on edge waiting for news on Brexit and Congress stimulus talks .

Better hopes for a stimulus package from the US Congress is sending the USD down and risk up across Asia today, with strong moves locally as the iron ore price keeps heading to the moon.

It was all about the stimulus last night as the electoral college voted in Biden as President, and Senate Leader and all round a$$hole on two legs Mitch McConnell congratulated the new president, sending risk markets higher on the prospect of no more stumbling blocks within Congress.

A dour day for risk for Asian stocks, with a sea of red across the region as traders react to the latest COVID economic restrictions.

Risk markets remain extremely mixed in sentiment going into the end of the year with further economic restrictions in Europe and COVID vaccine distribution pulling and pushing confidence, not to mention the volatility from the US presidential election outcome.

DXY was soft last night as EUR flew: The Australian dollar is still flying free: Gold and oil eased: Metals were mixed: Miners rolled: EM stocks too: Junk is fine: Treasuries bid: Stocks held: Westpac has the wrap: Event Wrap Europe announced further Covid-related restrictions.