Australian Dollar

By Chris Becker  Last night saw stock markets surge, particularly on Wall Street as oil prices continued higher while the USD firmed against almost everything, including gold which slumped to a new five month low.

A mixed day across Asian stock markets today as most play catchup from the Easter break and the surge in oil prices overnight.

I hate agreeing with Goldman, especially on Australia, where it has been horribly wrong for years (being far too bullish).

By Chris Becker  With the Easter long weekend behind us, there’s a lot to absorb from what’s been going on risk markets in the break.

A sea of red across Asian stocks markets today in reaction to overnight caution on Wall Street with the latest unemployment print locally causing the ASX200 to slip while Japanese markets have given up almost all of their recent gains as Yen strengthened on the risk off move.

DXY was down last night with EUR and CNY up: AUD is still warm versus DMs: Mixed against EMs: Gold is struggling.

Mixed conditions across Asian stocks markets today with Chinese markets absorbing the trifecta of economic prints without much fuss while Japanese bourses advanced on a selloff in Yen.

The AUD is off and running, bursting above 0.72 for the first time in two months: Bonds are selling too: XJO does not like it: Dalian is hit by Brucutu: So is Big Iron.

By Chris Becker  Last night saw risk markets try to breakout of its recent contained mood with US stocks putting in scratch sessions as European bourses found some more risk as Euro and Pound Sterling retreated against USD.

A lot better conditions here in Asia today with Chinese markets rebounding on the expectation of much better economic data while the Australian dollar was the biggest currency mover on the release of the RBA Minutes, sending the Pacific Peso down over 30 pips.

By Chris Becker  Last night saw risk markets in a contained mood without much activity with both sides of the Atlantic putting in scratch sessions on stock markets while currencies were range bound as no significant economic events were reported.

Outside China it’s been a fairly good run across stock markets here in Asia to start the week, absorbing the weekend news and lifting on the risk-on Friday mood.

By Chris Becker  Friday night saw US stock markets rise on the back of strong bank earnings to a new six month high.

DXY was weak Friday night, CNY and EUR strong: AUD was wild against everything: Gold was muted despite DXY falls: Oil too: Metals firmed: Big miners were mixed.

Another very mixed session here in Asia as traders position themselves before US earnings tonight with the overnight surge in USD continuing against the commodity currencies, although Euro is coming back late in the session.

By Chris Becker  A big surge in USD overnight took the wind out of US stocks with Wall Street’s anticipated earnings season looking at a shaky start.

Another mixed session here in Asia with Chinese stocks retreating the most, while Japanese bourses stabilised, local markets were wary of the Scomo election call, with the Australian dollar tapering slightly from its overnight surge.

By Chris Becker  Overnight markets rebounded slightly with US equities leading the charge as the latest FOMC minutes repeated a “patient stance” while core inflation data was subdued, leading to falls in Treasury bond yields and the US dollar.

Because what Australia needs is more deflation!