Australian Dollar

DXY firmed a little last night as CNY and EUR fell: The Australian dollar popped and dropped: As did gold: Oil was weak: Metals firm: Miners soft: EM stocks more so: Junk got bashed: As the Treasury curve was monstered: Bunds bid: Aussie bonds are at new highs: And stocks melted: Data was mixed.

Risk sentiment is falling quickly here in Asia with most share markets taking a dive.

The AUD is down a little through the morning with no misbegotten RBA utterances to keep it aloft: XJO is down marginally: Aussie bonds are up: Bitcoin and gold are upperer: Dalian is soft: Big Iron up anyway: Big Gas is meh: Big Gold to the moon!

From Westpac this time: • As mentioned in our front page essay, last week’s RBA Board Minutes did nothing to silence the increasing market focus on the potential for the RBA to venture into more unconditional forms of monetary policy, such as quantitative easing.

By Chris Becker  Risk sentiment in overnight markets remained cautious, with interest rates falling again, pulling the USD down while lifting gold to another new record high.

DXY was soft again last night.

Asian share markets are literally treading water while currencies are the only movers as traders try to find their feet at the start of the trading week.

It’s been like a warm blanket settling over markets for the past few weeks as the Lunatic RBA finally began to talk down the AUD.

By Chris Becker  Risk markets are on edge with tensions in the Gulf over Iran and trigger finger Trump, overshadowing the poor manufacturing PMI prints on both sides of the Atlantic.

DXY fell hard Friday night.

Via Westpac: For the FOMC, “uncertainties” now dominate At the June meeting, the FOMC’s stance on monetary policy shifted materially.

We’ve already been through it.

Asian share markets are loving the possibility of the end of the US/China trade squabbles and the hope of more stimulus down a multitude of pipelines stretching from Europe, the US and China and back again.

Via Bloomie: The Aussie will extend this year’s decline and probably fall as low as 65 U.S.

By Chris Becker  A big night on risk markets with stocks breaking out of their funk on Wall Street, helped along by the notion that Trump maybe visiting the Chinese Premier next week.

Asian share markets continue their mixed start to the trading week as risk markets continue to wait the latest from the tanker attacks in the Gulf and the upcoming FOMC Meeting on Wednesday.

By Chris Becker  Stocks pushed slightly higher on Wall Street overnight, following a mixed session in Europe where risk markets remain poised before tomorrow nights FOMC Meeting.

Asian share markets have started the week on a mixed note, continuing the confused Friday session as risk markets await the latest from the tanker attacks in the Gulf and the upcoming FOMC Meeting on Wednesday.

Bitcoin is back: I won’t even pretend that this is sustainable.

By Chris Becker  Friday night on Wall Street was a mixed bag with strong retail figures pushing the USD and interest rates up, with revisions on previous months also lifted, giving watchers less hope that the Fed will pull down interest rates sooner if the US consumer is still strong.