Australian Dollar

By Chris Becker  A modicum of stability arrived on equity markets overnight, but commodities – particularly oil – remain depressed, as bond yields continue to fall.

Asian markets continue their decline following the continued overnight rout on Wall Street, with local Australian stocks leading the selloff.

By Chris Becker  Fear is gripping equity and risk markets with nothing but selling overnight although to put in context, the bubblish S&P500 is now only back to its December 2019 high!

DXY fell again last night as EUR lifted: The Australian dollar fell heavily against all but the USD: EM forex was even worse: Gold was hit by profit taking: Oil was squashed.

Not quite the bath of blood on Asian markets although Japanese shares caught up to the fear over the weekend, while the usual buying of safe havens like gold and Yen abated somewhat as price was way overextended.

The Australian dollar is bid this afternoon as market damage winds back a little: Bond gains have softened at all-time low yeilds: XJO is still down solidly and has set up a massive double top: Iron ore is down a little: Big Iron is down more, execpt FMG, the most leveraged to price.

By Chris Becker  A bath of blood on stock markets overnight with both sides of the Atlantic down a whopping 3-4% across the board!

Asian markets are not responding well to the weekend news, with non-mainland Chinese stock markets selling off broadly.

By Chris Becker  Continued unease over the impact of the corona-virus is sending stocks down again, with Wall Street falling on Friday night.

The rumblings of fear are being heard across equity markets here in Asia with more safe haven buying in gold and bonds pushing stocks down across the region.

By Chris Becker  Stock markets seem to be rising and falling in line with the pace of the coronavirus, falling again last night as the number of external fatalities rose, prompting more bond and USD buying and a reversal of the previous night’s stock gains.

As the market realises that Phil Lowe is going to cut after all: It’s a slow dawn though as bonds still have plenty of room to rally: Unemployment is rising before the coronavirus hit.

By Chris Becker  US stock markets followed the positive mood generated in Asia then enhanced in Europe, with the S&P500 again hitting another record high as the release of the latest FOMC minutes gave a “steady as she goes” signal.

It’s been a bounceback day here in Asia for stock markets at least, as fear swings back to hope, helped by the Chinese propaganda surrounding growth prospects viz.

By Chris Becker  US stock markets returned from their long weekend and went on the defensive straight away, absorbing the Apple guidance cut with some mild falls on Wall Street after European bourses fell in response to a rout in Asia.

DXY has broken out and has the ears pinned back as EUR tumbles: The Australian dollar held on at the brink again.

Its a risk off mood here in Asia today with the fallout from the Apple revenue guidance striking a little bit of fear in stock markets.