Australian Dollar

By Chris Becker  More record highs on Wall Street as already discounted positive news about COVID-19 therapeutic treatment was doubled down again, this time across Europe with the much higher USD helping offset domestic currencies.

by Chris Becker Asian share markets have seen a modest start to the trading week with mild up sessions almost in line with Wall Street’s lead from Friday night.

By Chris Becker  More record highs on Wall Street on Friday night with a slowdown in new COVID-19 cases and better than expected PMIs lifting sentiment across the board although again, European share markets are hesitant at best.

DXY was up again Friday night: Australian dollar snapped lower: Though couldn’t outpace EMs: Gold held: Oil stalled: Metals puked a little: Miners more: EM was OK: Junk too: As US bonds were bid: Driving stocks to new highs: Pretty much as expected.

by Chris Becker Asian share markets have had a quasi successful end to the week, but the hesitation in following the razor thin breadth on Wall Street is obvious.

Via Bill Evans at Westpac: On June 5 we sharply raised our forecast profile for the AUD to reach USD 0.72 by end 2020 and USD 0.76 by end 2021.

By Chris Becker  More Americans out of work?

by Chris Becker Asian share markets are falling sharply across the region today in response to the mild retreat on Wall Street overnight in the wake of the latest FOMC minutes.

By Chris Becker  It was the return of King Dollar overnight as the USD strengthened against all, smacking gold down nearly $80USD per ounce in the process, pulling the Australian dollar and others in the process as Wall Street stumbled.

by Chris Becker Outside China its been a pretty good day for stock markets across Asia today, following through on the advances on Wall Street overnight, with Australian stocks still cheered on as earnings season rolls by.

By Chris Becker  Wall Street was again pushed higher by tech stocks as the NASDAQ nearly up 1%, as the USD fell to a new two year low against almost everything as the risk complex sharpens its concentration into bubble like territory with Treasury yields also down to record lows.

DXY broke into free fall last night.

by Chris Becker Stock markets are again mixed across Asia, with a failure to make any advances despite Wall Street lifting overnight, although Australian stocks were cheered on as earnings season made a few surprises.

by Chris Becker Stock markets are quite mixed across Asia, with Chinese stocks leading the way due to PBOC injections while the rest of the region is slumping from the poor confidence on Wall Street’s close on Friday night.

By Chris Becker  Wall Street was sanguine on Friday night with scratch sessions across the board, as European markets slumped as Euro came back strongly against USD.

DXY rebounded then faded last week.

by Chris Becker The RBA Governor is trying to jawbone the Australian dollar lower in his testimony to Parliament today, stating the cash rate is likely to be 0.25% for five years or more, giving deposit holders around the country a coronary.

By Chris Becker  Wall Street stumbled on the stalemate on fiscal stimulus measures from Congress, although the NASDAQ kept going higher, with the most interesting moves on bond markets as the US initial jobless claims improved better than expected.