Australian Dollar

By Chris Becker  Given the thin and volatile trading over the Christmas Period, this morning’s report will take a step back and look at the weekly trend overall.

By Chris Becker  Stocks advanced on both sides of the Atlantic, as thinner volumes and macro concerns are waved away as the Santa Claus rally continued apace.

With most markets here in Asia in light volume mode, there’s been a bit of downside volatility that’s not unexpected going into the Christmas period.

By Chris Becker  Wall Street continued the Santa rally with the fourth straight record high week with confidence surrounding the US/China trade deal builds.

DXY was up strongly Friday night as EUR sank: The Australian dollar jumped anyway versus DMs: And EMs: Surprisingly, net positioning on the CFTC moved more short last week to -46k contracts, though the trend is clearly towards more neutral: Gold held on: Brent fell as the US rig count jumped.

Asian markets had a mixed end to the trading week with no real advances across the region despite the usual record highs on Wall Street.

By Chris Becker  As traders around the globe slowdown for the Christmas break, Wall Street was the only major market to put on meaningful gains, with the absence of news translated into good news.

Asian markets were able to absorb a triple whammy today, with the latest BOJ meeting, the usual numberwang that is Australian unemployment, and the impeachment saga in the US.

By Chris Becker  Wall Street stumbled at the end of the session as all eyes were on the growing impeachment saga instead of the fundamentally divergent bubble that is occuring across risk markets.

Asian markets are putting in scratch sessions across the board as jubilation about the US/China trade deal turns into hesitation instead.

By Chris Becker  Wall Street edged to a nominal new record high overnight but only just as the USD rose against most of the majors, Pound Sterling in particular falling as the hard Brexit firms.

Asian markets are aligning again with overseas risk taking with optimism surrounding the US/China trade deal building as the USD strengthens again vs the undollar assets.

By Chris Becker  It’s all about record highs on stock markets in the wake of the US/China “phase one” trade deal with Wall Street bounding to a new high, dragging risk assets along for the ride.

A mixed start to the trading week here in Asia with only the ASX200 putting on outsized gains, namely due to a weaker Aussie dollar and a solid trifecta of economic prints from China.

By Chris Becker  It was all about the US/China “phase one” trade deal on Friday night markets with a surprising reversal after the usual all-in sentiment moved to one of caution, with scratch results on Wall Street the result.

Everything is awesome as the Tories look set to wipe out any chance of the UK remaining both in the EU and in, well union as risk takers take the cue that the US/China trade deal is done as well, sending the USD down against almost everything but gold.

Who said polling was dead.

DXY up, CNY more: The Australian dollar is the toast of DMs: EMs did a little better: Gold held up: Oil firmed: Metals were mixed: Miners to the moon!

Via Bill Evans at Westpac: At the time of our November Market Outlook the AUD had lifted from USD0.675 to USD 0.698.