Australian Dollar

The higher than expected PMI prints in China today and sending stock markets in the Middle Kingdom higher while other bourses across Asia are in retracement mode despite the solid lead from Wall Street from Friday.

A nice piece by GaveKal: 2) The renminbi and 10-year US treasury yields The chart above shows the same periods of renminbi strength and weakness, but this time overlaid by the 10-year US treasury yield.

The Tesla bid sent Wall Street up higher on Friday night following the return on traders from the Thanksgiving holiday with European markets putting in a good show despite a big spike in Euro, as the USD went down across the board.

Stock markets are stumbling along across Asia after no lead from Wall Street overnight due to the US thanksgiving holiday.

Late last year, the Australian dollar fell one cent in a second when China first started playing sill buggers with Aussie coal.

A very quite night on risk markets with most US markets closed due to Thanksgiving with an expected slow and quiet end to the trading week here in Asia.

Stock markets are largely higher across Asia but there more buying exhaustion is setting in as risk takes a break tonight for the US thanksgiving holiday.

A slew of economic releases with mixed results kept risk sentiment at bay overnight with industrial stocks on Wall Street falling back while European bourses tread water.

DXY is at breaking point: The Australian dollar is at break out point: Gold held, oil surged: Metals are unstoppable: Miners did stop: EM stocks are lofty: Junk was firm: Treasuries bid despite oil: Stocks rotated back to tech: It’s more of the same.

Stock markets are largely higher across Asia but there is some buying exhaustion setting in as the positive spin on the US election and vaccine news begins to wane despite the record high on the Dow Jones overnight.

DXY is at the edge of breakdown and EUR breakout: The Australian dollar likewise: Gold puked again as oil took off: Metals mania: Mining mania: EM mania: Junk mania: Treasuries were soft: Stocks unstoppable: What a blowoff we have on our hands now.

A surge at the end of Wall Street’s session last night has brought more risk appetite to Asia after yesterday’s mixed start to the week.

DXY firmed a little last night: The Australian dollar sagged: Gold broke support, oil rallied: Metals flamed out: Miners took off: EM stocks tried but failed: Junk was OK: Treasuries were sold: Stocks firmed modestly: Westpac has the wrap: Event Wrap US Markit PMIs rose to multi-year highs, against expectations for a fall.

Stock markets are relatively buoyant across Asia despite Wall Street’s faltering steps on Friday night with Japanese markets closed and the economic calendar relatively quiet to start the week.

Via FTAlphaville: Bitcoin’s price has been mooning in the wake of the US election, so much so it is nearing the record highs it set back in December 2017, at pixel time trading above $18,000: Speculation as to what is causing the run-up is rife.

Risk sentiment tried to change course on Friday following a relatively solid Asian and European session as the stimulus problem in the US was exarcebated by a negligent Republican Senate and a divergence in views between Trump’s Treasury and the US Federal Reserve.

DXY was stable Friday night: The Australian dollar fell a touch: Oil and gold both rose: Metals are off to the races: Miners were firm: EM stocks too: Junk was fine: Treasuries bid: Stocks fell again: The virus is still the story.

Risk sentiment is still very cautious as optimism over vaccines outweighs concerns over rising COVID cases and economic restrictions. Wall Street rallied on the close on rumors of possible stimulus progress in Congress (which is the opposite of progress I think someone once said).

DXY was down last night: But the Australian dollar fell anyway: Gold weakened again, oil lifted: Metals are on a tear: Miners struggled: EM stocks did OK: Junk is back: Treasuries were bid: Stocks did the two-step reversion from value to growth as yields fell.

Stock markets are somewhat mixed throughout Asia, with only Japanese bourses dragging the chain as the USD continues to strengthen against all the major currencies.