Australian Dollar

Asian stocks are mixed once more given the poor overnight lead from US markets, although S&P futures are up slightly on anticipation of some better earnings calls tonight and the Chinese trade talks which are about to commence.

Good stuff at Bloomie where Nouriel Roubini brings the pain to the BTC madmen: A cryptocurrencies panel at the Milken Institute Global Conference was more like a cryptobrawl — no punches but a barrage of barbed comments.

By Chris Becker The Fed held overnight, happy with the course of inflation in the US as stock markets reacted negatively going into the close setting up for a risky day here in Asia.

Because they sure didn’t see the drop coming: CBA looks as credible as you’d expect for a mob of gangsters.

Outside Australia, its a sea of red across stock markets as risk absorbs the Trump “how I colluded with Russia” questionnaire alongside Chinese traders that came back to work after two days to absorb a much stronger USD.

By Chris Becker Tech stocks to the rescue this time with Apple beating estimates and lifting the NASDAQ higher, dragging the S&P500 up as most European markets were closed for May Day holidays (and a little rioting on the side).

Last night DXY launched: As EUR cratered: As we bid adieu to an all too brief European boomlet: AUD was monkey-hammered to a two year low as 75 cents broke: It was mixed against EMs: Gold was hit but is hanging on!

There’s no doubt that the Aussie dollar has fallen away owing to the widening yield spread to the US.

Yet another quiet day here in Asia with Japanese stocks reopening, the rest of the region was taking a break that will extend overnight to Europe as well.

Via UBS: RMB-denominated oil contracts began trading for the first time in Shanghai on March 26.

By Chris Becker Tech stocks were again the drag, pulling industrials down as US bourses could not translate solid gains in Asia and then Europe into moves higher.

A quiet day here in Asia as Chinese and Japanese stocks markets are closed for holidays, the ASX200 did the heavy lifting alongside Korean markets.

First Goldman via Bloomie: And ANZ too: With US bond yields pushing higher again and the 10-year yield moving past the psychologically significant 3% level, this has lent support to the USD…during periods when the correlation between the two is high and rising, it tends to last for an average of around two months.

By Chris Becker  Stock markets continue to re-risk after earnings in the US surprise to the upside, with the USD gaining strength as Treasury yields spike above the magical 3% level.

The detente on the Korean peninsula is lifting all stock markets across Asia in reaction to the late earnings Amazon and other tech companies, plus another steady as she goes central bank – this time the BOJ – keeping stimulus on track.

Via Bloomie: With the longest sell-off in a year stalling, Citigroup strategists Jabaz Mathai and Jason Williams say go long duration by purchasing 10-year notes at about 3 per cent. They’re targeting a rally that pushes the yield down to 2.65 per cent, according to a note released on Thursday (Friday AEST).

By Chris Becker Stock markets were more optimistic overnight in the wake of the ECB hold decision and the solid US data with tech stocks leading the way.

Stock markets were once again mixed here in Asia with Japanese markets advancing in anticipation of the BOJ meeting tomorrow.

Via Bloomie comes Morgan Stanley: “The RBA is the furthest away from hiking rates amongst any industrialised countries,” Michael Kushma, chief investment officer for global fixed income, said in an interview in Singapore.

By Chris Becker Weakness in tech stock earnings did not drag down US industrials, with the S&P500 gaining in a sea of red as European stocks floundered after a poor showing in Asia yesterday.

DXY broke out for real last night: EUR broke down for real as well.

Chinese stocks led the fray here in Asia on signs there maybe some easing of credit restrictions, while the USD continued its advance against the other major currency pairs, with a retreating Yen lifting Japanese stocks.

For the first time this year: The daily chart up-trend  is breaking if not broken: Weekly is broken: Monthly is holding on: Let’s see what CPI brings.

By Chris Becker Its all about the strengthening USD in a crowded trade overnight with all the major currencies retreating against the King, while stocks end mixed.