Australian Dollar

By Chris Becker  Friday night saw a wobbly finish to stock markets in Europe and the US after an equally mixed session here locally in Asia.

  The stock selloff wasn’t as wide here in Asia, following yet another reversal on Wall Street overnight, with the ASX200 the standout, looking set to finish the week below 5900 points.

By Chris Becker  Wall Street reversed course – again – overnight with the latest ECB meeting adding to the volatility as Euro swung wildly on the lack of concern about the currency itself, as all other policy measures were left unchanged.

The bounceback continues here in Asia, with most stock markets putting in solid sessions following the rebound on Wall Street overnight.

By Chris Becker  Wall Street rebounded last night with bargain hunting overtaking fear of the bubble popping as half of the previous losses were clawed back.

Via the AFR: Agricultural export giants are pleading for the government to resolve its tensions with China and privately fear they could lose lucrative deals.

The big selloff on Wall Street has been more or less replicated here in Asia, although with less downside, as S&P futures race back in late trade to try to cover the falls overnight.

Some more optimism returns to Asian share markets with the strong lead from the lone European bourses overnight, with S&P futures indicating a solid open on the return of US traders from their long weekend.

By Chris Becker  Even though Wall Street was closed for the Labor Day weekend, last night saw some volatility on equity markets with big gains across Europe, despite some disappointing economic prints including industrial production and consumer sentiment.

Asian share markets were largely down across the region, although Australian stocks have rallied against expectations, with this sentiment shift also changing as European bourses open.

You’ve got to love this from the Global Times: China may gradually reduce its holdings of US Treasury bonds to about $800 billion from the current level of more than $1 trillion, as the ballooning US federal deficit increases default risks and the Trump administration continues its blistering attack on China, experts said.

By Chris Becker  A big rise in US employment figures and a subsequent drop in the headline unemployment rate was not enough for stock markets to get through their “wibble” moments, with the NASDAQ leading the way with another fall, and European bourses in lockstep.

Asian share markets have fallen across the region, but not at the same levels as Wall Street overnight, although the ASX200 is having a go at it.

By Chris Becker  Stock markets had a “wibble” moment overnight with the NASDAQ dropping 5% as the major bubble, I mean tech stocks dragged everything back, but nowhere near to reality yet.

DXY was firm last night but hardly strong: The Australian dollar was hit but not very hard, either: Same for gold: And other commodities: Miners copped it, though: And EM stocks: Junk was fine.

Share markets continue to lift across Asia in response to the broad risk on moves overnight with the USD firming against the major currencies, plus Yuan despite a lower fix today by the PBOC.

DXY continued its bouncing trend lower last night: Australian dollar was weak: Gold too: Indeed, all commodities: Miners were soft: And EM stocks: Junk has plateaued: Yields were bid: Stocks are Icarus: Westpac has the wrap: Event Wrap US ADP private sector employment rose +428k in August, lower than the +1000k expected.

By Chris Becker  A big lift in risk sentiment across the board overnight with many equity markets breaking out to new bullish patterns on the back of comments that central bank stimulus will continue for quite sometime yet.

Share markets are lifting across most of Asia, although Chinese bourses are flagging, as Wall Street helped increase risk taking and optimism.

By Chris Becker  Wall Street cannot be stopped and was helped along by a very solid ISM manufacturing print, particularly new orders as the Fed stimulus continues to pump up the economy as the presidential election looms.

Share markets are steady across most of Asia, with most putting in scratch sessions or minor losses (except the ASX200) in line with a hesitant overnight risk complex – sans the crazy NASDAQ!