Australian Dollar

It was “let’s forget about Monday” on Asian share markets today in response to the next layer of the Fed punchbowl and the potential for another Trump crony bailout/looting spree aka bailout package announced overnight.

By Chris Becker  The Fed rides to the rescue!

Not a good start to the week for Asian stocks with a strong selloff across the region and Wall Street ready to tumble as markets reopen tonight.

By Chris Becker  Another night of mixed sentiment to finish the trading week on Wall Street on Friday with US shares opening higher before settling with a minor bounceback, relatively speaking from their volatile previous session.

DXY was strong again Friday night: But the Australian dollar was even stronger: Gold is still poised: Oil firmed: Base metals are still mixed: Miners rebounded: EM stocks too: And junk: Bonds softened: Stocks managed a weak bounce: Despite the little comeback, I note that a new and less propitious narrative is developing.

Via Bill Evans at Westpac: The Australian dollar has been on a tear of late.

Another red day for stocks across Asia but not as bad as expected given the huge risk off mood from Wall Street overnight with a late rally in the afternoon session covering a lot of the losses.

By Chris Becker  Hilarity ensued last night on risk markets as traders finally worked out the second wave of COVID-19 in the US is coming faster than the first, as new cases and ICU bed use balloon outside of NY.

Via Scope: Global currencies are widely used in cross-border monetary operations, finance and trade.

By Chris Becker  Last night saw the latest FOMC meeting pass, where the Fed’s stance was more accommodative than expected, and coupled with inflation data that was slightly weaker than expected, caused the bond market to tip over into a buying frenzy, with the 10 year yield falling from 0.83% to 0.73%.

  A flat day for stocks across Asia with Chinese shares falling the most on poor sentiment around Hong Kong.

By Chris Becker  A pause a stall or a breakdown occurred on stock markets overnight – except the NASDAQ – with all major markets retreating slightly as probability finally caught up to the blowout trends.

Another relatively solid day across stock markets here in Asia, save for Japan which had a much needed but quite shallow pause as Yen buying continued.

By Chris Becker  Equity markets continue to fully price in a V-shaped recovery and are about to return to their pre-COVID19 highs, as Wall Street rallied overnight to a three month high following the good start to the week here in Asia.

A sea of green, but not quite as deep as expected following the orgy of buying on Wall Street on Friday night after the better than expected monthly US jobs report.

By Chris Becker  The latest US employment figures on Friday night – aka non-farm payrolls – caused an up-swell of algo trading as the nominally positive result saw risk zoom to new monthly highs across the board, which should encourage even more risk taking here in Asia on the open.

Heading into tonight’s US non-farm payroll (monthly unemployment) print, Asian stock markets have put on another strong finish to the week as risk sentiment goes back to its excessive highs following an all too brief pause.

By Chris Becker  Risk markets finally returned to some semblance of sanity overnight, with stock markets pausing and eventually retreating slightly from their orgiastic excess all week.