Australian Dollar

Volatility is raising is ugly (or beautiful) head again with risk markets wildly oscillating overnight as the latest FOMC minutes point to a possible change in the tapering of grand old stimulus measures in the months ahead.

For much of the evening the US dollar was headed back into the abyss and the Australian dollar marching higher.

Inflation concerns are still rocking stock markets with Asian bourses deep in the red in today’s session, with more inflation data from Europe (and the UK) out later tonight.

Mwahaha. The disastrous four-headed hydra pattern has appeared on BTC’s crashing chart (and yes, I just made that up but I expect a Hydracoin to appear very shortly after this post): Today’s problem?

HSBC with the note.

Another discerning change in confidence and sentiment overnight with Wall Street sharply reversing in the last hours after being up throughout most of the session.

The weakness afflicting the US dollar since its questionable labour market report continued overnight.

Stock markets are finally finding their feet here in here in Asia after a wobbly start to the trading week, with Japanese stocks advancing strongly after a big stall yesterday.

It’s fair to say that I’ve given crypto a fair hearing.

An inability to find confidence hindered risk markets overnight, with only commodities putting on gains with European and US stocks pulling back after what was a solid finish on Friday night.

Overnight action continued the see-sawing action between US yields and other asset classes that has defined the last few months.

Stock markets are wavering in their resolve here in Asia following the meltup on Wall Street Friday night, with Japanese and Taiwanese stocks falling again on continued COVID concerns.

Ah yes, the wonder that is crypto.

The BTFD crowd saved the shenigans on Wall Street with a big follow through of risk taking on Friday night despite a very poor retail sales print, followed by a lacklustre industrial production number.

In the usual pattern of recent times, falling US yields bashed DXY lower and lifted commodities plus the Australian dollar.

Stock markets are on the rebound here in Asia in-line with the BTFD crowd on Wall Street overnight, trying vainly to fill a hole from the impact of the latest US CPI print earlier in the week.

Oh, really? Tesla & Bitcoin pic.twitter.com/YSswJmVZhP — Elon Musk (@elonmusk) May 12, 2021 Cripes, who could have seen that coming?

The BTFD crowd stepped in on Wall Street overnight just after Asian stocks took a hammering in yesterday’s session.

More wild action on markets overnight as the COVID recovery lurches through another bubble and bust.

The inflation bear swatted down stocks on Wall Street overnight as the latest monthly US CPI figure spooked risk markets as it made a 12 year high, boosting bond yields alongside the USD.

The bond backup is back and risk assets don’t like it with all kinds of action around the Australian dollar last night.

Still not a pretty sight across risk markets here in Asia with Taiwanese stocks in near freefall, while other risk assets remain concerned about inflation fears across the US and Europe, with both German and US inflation monthly prints coming in tonight.

While the NASDAQ was unchanged overnight, the risk of the risk complex continued to oscillate into negative territory on inflation concerns with Treasury yields spiking yet again.