Australian Dollar

The ECB meeting produced no surprises but continued the inflection on USD which continued its minor pullback, extending losses against the major currencies with gold trying to stay above the $1700USD per ounce level.

The Australian dollar soared on Icarus wings last night.

The latest US fiscal stimulus is acting as a positive catalyst across risk markets with Chinese mainland shares finally bouncing back after some soothing words from state media after a dreadful start to the trading week.

US inflation data was slightly weaker than expected but this buoyed Wall Street – outside tech stocks – as the Fed’s expectations of more accomodation were met.

Asian share markets are pulling back late in the session with Chinese mainland shares stabilising somewhat after a dreadful start to the trading week and despite the continued bounce on Wall Street overnight.

Equities were aligned finally last night as US tech stocks rebounded sharply as the USD finally reversed direction after making new highs against almost every undollar asset out there in the wake of the bond market implosion.

It’s not a market for the faint of heart is it?

Asian share markets are all over the place again as Chinese mainland shares go back into freefall despite the solid run on Wall Street overnight, as NASDAQ futures try to reclaim the previous losses.

Stocks were all over the place last night with Wall Street diverging sharply as the tech bubble continues to deflate, while industrials were bid higher alongside a big surge in European stock markets.

The developing trend of higher US yields, a stronger DXY, lower emerging markets and commodities and busting tech continued last night.

Asian share markets continue to fall despite the solid run on Wall Street on Friday night as the US unemployment print signalled good times ahead for the US economy.

Louis-Vincent Gave at GaveKal: There are two kinds of bubbles: bubbles in productive assets like railways, and broadband lines, and bubbles in scarcity assets like tulips and gold.

Friday night saw the release of the monthly US jobs figures – aka nonfarm payrolls – that sets the tone for risk sentiment for the rest of the month.

The Australian dollar was absolutely smashed again Friday night as the great yield reversal continues.

Another sea of red for Asian stocks going into the end of the trading week but at least its not a bath of blood like that found on Wall Street at the moment, with minor retracements and some buying support evident.

Sour risk sentiment seems to be gravitating along Wall Street again with another 2% drop across the main bourses overnight, as the fallout from the selloff on the bond market continued.

Tech Wreck 2.0 is here. With it has come a rising US dollar (or is it the other way around?) Tumbling commodities and emerging markets.

Asian stocks are swimming in a sea of red today due to the growing lack of confidence on Wall Street overnight, as risk sentiment reverses yet again as bond markets continue their own selloff.

Some interesting tweets from various financial mavericks overnight on the ongoing gold versus Bitcoin debate.

Another reverse in risk sentiment overnight with Wall Street properly falling led by tech stocks this time as the bond market continues its selloff.

Credit Agricole is making perfect sense to me on the Australian dollar: Resilience in the face of higher UST yields We are revising up our Antipodean currency forecasts.

Asian stocks are pushing higher today despite the stumble on Wall Street overnight, as risk sentiment reverses yet again despite a temporary reprieve on bond markets and a slightly weaker USD.

More from FTAlphaville today: Citi put out an all-time classic of a report on bitcoin yesterday, as you may have already read about here.