Australian Shares

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Macro Afternoon

by Chris Becker Outside Australia, Asian stock markets are in retreat mode after being mixed yesterday as confidence fades going into tomorrow night’s NFP print, with all risk going into undollars like Yuan, Bitcoin and Yen and of course precious metals. Gold is having another stab at the $2050USD per ounce level with silver again

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Macro Morning

By Chris Becker  Another record high on Wall Street, pushing the risk complex to yet more stretched valuations as gold also makes another daily record high above the $2000USD per ounce level, with silver outshining with a near 5% gain to be above the $27USD per ounce level. Its all about the weakness of USD

10

ASX: Banks clubbed as gold shines

The Australian dollar is firm this morning: Bonds yields are breaking down: XJO is struggling big time: Big Iron is soft. I’m worried after Brazil’s better July number: Big Gas better: Big Gold up and away. NCM not even at new highs. Big Banks are sinking into the bath of blood: Hoocoodanode that fiscal tightening,

7

Macro Morning

By Chris Becker  Another solid night on Wall Street but it was overshadowed by the breaking of the $2000USD per ounce barrier by gold in a late surge that also took silver above the $26USD per ounce level. Bond markets also reacted strongly with new record low in 2 and 10 year Treasury yields as

128

Macro Afternoon

by Chris Becker The trading week finally gathers pace here in Asia with the strong lead on Wall Street converting into broad gains across the risk complex.  Gold is trying to have another go at its previous record high, slipping a few dollars as the four hourly chart exhibits a bearish rising wedge pattern (or

3

Macro Morning

By Chris Becker  You can’t beat the optimism out of Wall Street which surged again on tech stocks exuberance, this time on Microsoft taking over TikTok, plus a big beat in US manufacturing conditions. This will lift all boats here in Asia while the USD lifted slightly against the majors, with gold putting in another

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Macro Afternoon

by Chris Becker A very mixed start to the trading week here in Asia with share markets all over the place given the strong lead on Wall Street combined with the inversion of strength in the USD.  Gold is having another go at its previous record high, pushing ever higher as it tries to make

0

Macro Morning

By Chris Becker  The very interesting divergence on global stock markets continued on Friday night with Wall Street going gaga for tech stock earnings while the rest of the civilized world took a deep breath and realised that COVID-19 troubles are not going away, with steep falls across the remainder of the risk complex. The

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Macro Afternoon

by Chris Becker A very rough finish to the week here in Asia with sharp falls on most share markets, replicating the falls in Europe but not Wall Street overnight. Gold is having another go at its previous record high, now making a triple top on the four hourly chart to currently be at the

4

FAANG goes BANG

Absolute tearaway earnings from FAANG this morning: Facebook EPS $1.80 vs. $1.39 sent estimate Apple EPS $2.58 vs. estimates of $2.07 Alphabet EPS $14.21 with adjusted earnings of $10.13 vs. $8.21 estimate Amazon EPS $10.30 vs. an estimate of $1.46 Much of the commentary was positive as well so all of the stocks are up

13

Macro Morning

By Chris Becker  An interesting divergence on stock markets overnight as European bourses tanked, falling in line with the falls in 2Q German GDP and increase in Eurozone unemployment, but Wall Street rallied despite the biggest single quarter decline in US GDP history, proving that markets do not equal economics! Coupled with the huge drop

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Macro Afternoon

by Chris Becker The mood is mixed again here in Asia despite a small surge overnight on Wall Street as the Federal Reserve re-engaged its dovish narrative. Gold has been unable to crack its overnight high, slipping to the $1958USD per ounce level with silver looking even weaker below $24USD per ounce: In mainland China,

11

Macro Morning

By Chris Becker  After a quick pull, the Fed gave markets a solid shove higher overnight in its latest FOMC meeting, keeping its tune in the narrative ballpark to “do whatever it takes” to support the US economy. The USD fell even more to record lows against the majors while Wall Street rallied alongside commodities,

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Macro Afternoon

by Chris Becker The mood remains dour here in Asia with most stock markets on the decline alongside the USD, with the volatility still prevalent in precious metals as we head into the next FOMC meeting. Gold is firming but steady at the $1950USD per ounce level after almost hitting $2000 on the spot price

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Macro Morning

By Chris Becker  The Fed seemingly pulled the punchbowl overnight, extending its lending program from the September deadline which saw bond yields fall sharply, pulling Wall Street down with it. The volatility in precious metals plus a downbeat consumer confidence print didn’t help restore risk sentiment with European stocks also on the decline. Commodities were

186

Macro Afternoon

by Chris Becker Asian stock markets have again had a mixed session following yesterday’s faltering start the trading week with a mid session reversal of risk taking as the gold/silver/Bitcoin speculative nexus suddenly reversed their bubble like ascent. Gold almost hit $2000 on the spot price while Bitcoin made a new yearly high. In mainland

14

Macro Morning

By Chris Becker  Another shift in sentiment overnight as the risk complex hinges on good economic news and possible coronavirus vaccine developments. Wall Street swung back in favour as the latest durable goods order surprised slightly on the upside, while in Europe the closely watched IFO survey gave some hope yet stock markets were lacklustre.

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Macro Afternoon

by Chris Becker Boom! There goes gold… Boom! There goes silver… Boom! There goes Bitcoin… Asian stock markets have opened in mixed fashion to start the trading week with all activity overshadowed by all the moves in undollar assets, lead by gold – now above its previous record high, dragging silver and Bitcoin, which gapped

13

All time gold price high saves ASX

The AUD is bid this morning as DXY sinks: Bonds remain pancaked: Stocks are up a little: Big Iron is struggling: Big Gas is down: Big Gold is marching as the metal hit an all-time high this morning. Macquarie’s stupid Friday downgrade now forgotten: Big Banks are sinking again: MB Fund has been buying gold

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Macro Morning

By Chris Becker  Wall Street and the rest of the risk complex are truly dicing with danger, with European stocks slumping on Friday night while US bourses barely kept above key support levels as rising US/China tensions, and concerns over the spreading Trumpvirus in the US and the lack of any fiscal measures weighed everything

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Macro Afternoon

by Chris Becker Asian stock markets have reacted poorly to the overnight slump on the NASDAQ with concerns mounting about the lack of breadth in the rally, plus the economic fallout between rising US/China tensions. In mainland China, the Shanghai Composite is down over 2% to 3250 points, accelerating in the selloff while in Hong

1

Macro Morning

By Chris Becker  Disappointing US jobs data and the rising US/China tensions, coupled with ridiculous narrowness of US stock advances pulled back Wall Street and European bourses overnight as we head into the end of the trading week. The USD is mixed against some of the majors with stalls on Pound Sterling and Aussie after

171

Macro Afternoon

  by Chris Becker Sentiment is mixed again here in Asia with Japanese stocks having a long weekend, while Chinese stocks are falling slightly as a result of the rising Chinese/US tensions. The USD is still weak against all the majors with Bitcoin finally showing some signs of life during the session as gold keeps

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ASX golden bull is born

And running. The Lunatic RBA’s AUD thermal is still in play: Yields dead: XJO is flat: Big Iron is soft: Big Oil as well, barring the evil Santos: Big Gold is running after solid results from NCM and EVN, not to mention the incipient gold bull market: Big Banks have faded the DoleHider bounce as

4

Macro Morning

By Chris Becker  European stocks sagged while Wall Street surged despite another record day of new coronavirus cases, deaths and hospitalisations across the USA. The USD continues to slump against everything, with gold and silver soaring once again overnight, while all other industrial metals slipped or were steady. It looks like a green day across

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Macro Afternoon

#747Farewell to the last 747 Qantas flight today….sad times for aviation by Chris Becker Sentiment has shifted again to a risk off mood with stocks struggling here in Asia today, reflecting the fall in tech stocks overnight on the NASDAQ. The rout in USD has abated somewhat, although the Aussie dollar, gold and silver remain