Australian Dollar

By Chris Becker  After a quick pull, the Fed gave markets a solid shove higher overnight in its latest FOMC meeting, keeping its tune in the narrative ballpark to “do whatever it takes” to support the US economy.

by Chris Becker The mood remains dour here in Asia with most stock markets on the decline alongside the USD, with the volatility still prevalent in precious metals as we head into the next FOMC meeting.

From Shane Oliver at AMP comes a good wrap of gold and the AUD: Introduction The price of gold has now broken out to a record high and the Australian dollar has risen 30% from its coronavirus panic low in March and broken above $US0.70.

DXY finally bounced a little: The Australian dollar still red hot: Gold turned volatile as it rockets higher: Oil is still a yawn: Dirt was mixed: Miners fell: EM stocks too: Junk eased: Yields keep falling: Nasdaq looks toppy as S&P fights for support.

By Chris Becker  The Fed seemingly pulled the punchbowl overnight, extending its lending program from the September deadline which saw bond yields fall sharply, pulling Wall Street down with it.

by Chris Becker Asian stock markets have again had a mixed session following yesterday’s faltering start the trading week with a mid session reversal of risk taking as the gold/silver/Bitcoin speculative nexus suddenly reversed their bubble like ascent.

DXY is in one hell of a freefall now.

By Chris Becker  Another shift in sentiment overnight as the risk complex hinges on good economic news and possible coronavirus vaccine developments.

by Chris Becker Boom!

The yoking of Bitcoin and gold is one of the strangest phenomena in contemporary markets.

DXY has broken support and is in free fall as EUR rips: This has dire consequences for the Australian dollar.

by Chris Becker Asian stock markets have reacted poorly to the overnight slump on the NASDAQ with concerns mounting about the lack of breadth in the rally, plus the economic fallout between rising US/China tensions.

By Chris Becker  Disappointing US jobs data and the rising US/China tensions, coupled with ridiculous narrowness of US stock advances pulled back Wall Street and European bourses overnight as we head into the end of the trading week.

Having some image problems today so no charts.

  by Chris Becker Sentiment is mixed again here in Asia with Japanese stocks having a long weekend, while Chinese stocks are falling slightly as a result of the rising Chinese/US tensions.

Via Westpac: end-Sep forecast is 0.70, though a soft USD should keep lending support near term AUD’s rally to above 0.71 coincides with the MSCI World index reaching highs since Feb, keeping the Aussie’s traditional positive correlation with risk appetite firmly intact.

By Chris Becker  European stocks sagged while Wall Street surged despite another record day of new coronavirus cases, deaths and hospitalisations across the USA.

#747Farewell to the last 747 Qantas flight today….sad times for aviation by Chris Becker Sentiment has shifted again to a risk off mood with stocks struggling here in Asia today, reflecting the fall in tech stocks overnight on the NASDAQ.

The AUD is still bubbling away this morning despite Victoria’s virus calamity (thanks RBA): Bonds are dead as the Dodo: Stocks have backed away from resistance but the chart is bullish: Gold is the story de jour.

By Chris Becker  Sentiment remains super positive as the EU stimulus and fiscal sharing package and vaccines news continue to propel equity and commodity markets higher, while at the same time sending the USD to a five month low against nearly everything else.

by Chris Becker News of a potentially successful coronavirus vaccine is sending stocks higher across the region, with local stocks leading the way even as the Federal government slashes its economic stimulus package come September.