Australian Dollar

As the trading week comes to an end, risk sentiment continues to slide here in Asia, with Chinese shares the exception with small lifts on the mainland.

Wall Street has been in retreat for three days in a row now, as risk sentiment slowly catches up to the out of control COVID cases emerging in Europe and the US as they go into their colder seasons.

DXY was up last night: Australian dollar got belted after the RBA awakening: Gold held on: Oil eased: Metals were confused: Miners fell: EM stocks too: As the junk siren went off again: Treasuries eased: Aussie bonds were red hot: Stocks fell: Westpac has the data: Event Wrap U.S.

Risk sentiment continues to slide here in Asia, except local stocks which took the headline fall in the latest unemployment figures at face value.

Risk sentiment remains subdued with hopium around more US fiscal stimulus fading, sending Wall Street lower while the USD retreated slightly, mainly against a resurgent Pound Sterling as Euro and Aussie dollar remain depressed.

Risk is sliding back here in Asia, in line with the reversal on Wall Street overnight, with Chinese shares falling back the sharpest.

Another solid day on stock markets with rally on Wall Street translated into gains across the region, although Chinese shares are stumbling going into the close.

Global risk sentiment is bouncing back with an unfettered Wall Street ready to accept any President post-November – as long as they have nice juicy corporate stimulus ready to go – and the return of mainland Chinese traders after a week long holiday.

Risk markets are having a relatively good start to the week outside Japan with the Wall Street rally from Friday echoed across the region.

Risk sentiment returned in full on Friday night on Wall Street with more hopium around stimulus before the US presidential election while European bourses stumbled after a poor showing of stocks in the Asian session.

A flat finish to the week for risk markets here in Asia in response to the continues risk-on damn-the-COVID-torpedoes and election shenanigans in the US overnight, despite even more cases as a big second wave of COVID-19 in Europe breaks out.

Via Credit Suisse: The RBA decision on 6 Oct has reinforced the possibility of an easing announcement at the upcoming 3 Nov rate decision: with several speeches by RBA officials keeping policy expectations in focus between now and the decision, we see our pre-US elections AUDUSD 0.70 target as still intact.

New monthly high in stocks overnight as traders doubled down on talk from central bankers that all options are on the table in keeping equity markets afloat amid a growing pandemic across the North Atlantic.

A relatively solid day for risk markets here in Asia in response to another surge on Wall Street overnight, despite growing concerns of a big second wave of COVID-19 in Europe and the US as the northern hemisphere moves into the cooler months.

Normal market price action in the absence of any key economic events would just hinge on the words of central bankers, with the latest FOMC minutes not shaking things up much, but instead it was backtracking on stimulus shutdowns that sent Wall Street surging once more on hopium.

DXY was down last night: The Australian dollar jumped: Not gold: Oil rose: Metals surged: Plus miners: And EM stocks: The junk siren has gone silent: The US yield curve is steepening: Stocks to the moon: And so much for pricing election risk!

It’s not been the red day for stock markets here in Asia that traders expected given the shooting off the mouth tweets overnight from Trump that sent Wall Street a flutter.

Risk took a nosedive overnight when Trump decided to play the biggest DickCard of political machinations, squashing any hopes of a stimulus package to help the American people (and Wall Street of course) before the November 3rd “election”.