Australian Shares

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Macro Afternoon

by Chris Becker While North Queensland batters down as Cyclone Debbie crosses the coast, the rest of Asia is feeling much more pacific after a shaky start to the week yesterday. The Shanghai Composite is down 0.3% after the long lunch break still at 3255 points, still unable to climb significantly above local support at the 3200 level.

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Big Iron dead cat arrives as Debbie does Dalian

Dalian is open and is up with coking coal as Debbie does Dalian, both erasing half of last night’s losses. Big Iron is enjoying the dead cat, all stocks up 1% plus. WHC is up more on a reasonable thermal coal contract settlement: All eyes on the Bowen Basin today… Big Gas is up on

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Macro Morning

By Chris Becker   Markets remain unsettled as we start another week amid the chaotic mess that is the Trump administration with US stocks largely unchanged while European bourses retreated on the pricing in of the upcoming Brexit trigger. Commodities remain volatile especially copper and oil while iron ore heads south, all posing headwinds for

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Macro Afternoon

by Chris Becker Asia starts the week in a bad mood following the frustrating inaction in Washington on Friday. The fall in US stocks translated into falls across the region, save China, with S&P futures dropping alongside the USD as the Yen powered ahead providing a big headwind for domestic Japanese stocks. The Shanghai Composite is putting

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Macro Morning (Trading Week)

By Chris Becker  The major problem facing macro markets is a neophyte US president unable to turn his sales pitch into actual policy with a big fail in Congress trying to “reform” healthcare late last week. This lack of confidence is upsetting market watchers, who have hinged their bullish hopes on “huuge” spending in infrastructure

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Macro Afternoon

by Chris Becker Asia remains cautious in the face of seemingly intractable domestic policy development in the US, although Yen sold off providing a tailwind for Japanese stocks,  Chinese bourses are under pressure from monetary policy tightening internally. Crude oil and other commodity prices remained depressed with the Australian dollar still weakening against the USD.

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Dalian falls as PBOC tightens again

The pressure DCE is not abating with it down -1.5% at the open: The reason why be still more PBOC mortgage tightening, via Reuters: The People’s Bank of China (PBOC) will strictly check the source of down payments by individuals purchasing property in Beijing, the Beijing operations office of the Chinese central bank said in a

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Macro Afternoon

by Chris Becker Is the dip already over? Most stock markets in Asia put in positive or scratch sessions taking the shaky but still positive lead from US stocks overnight. Currencies were effectively unchanged with a small rally in USD against Yen offset by a lower Aussie and Kiwi dollar as commodities pulled back slightly.

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Macro Afternoon

by Chris Becker Markets in Asia are getting squished as a result of the “shock” fall in US stocks overnight. Red across the board while the flight to safety sees bonds bid up high with Treasuries down to nearly 2.4% and Aussie issues off four points to 2.77% as the Aussie dollar moderates its falls from last

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Good ‘ol days return as Big Iron crashes

Dalian is open and soft but holding: The good ‘ol days return today as Big Iron is getting hosed: FMG is falling -5% and describing a superb head and shoulders topping pattern: The uptrend is broken but we’ll need to see it breach the $5.80 neckline before the topping pattern is confirmed. RIO has a

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Macro Afternoon

by Chris Becker Markets in Asia are mixed to say the least with Chinese bourses surging and the rest struggling as Yen and Aussie dollar lift higher against a floundering USD. Australian 10 year bond yields are falling again while the oil price slipped in weak Asian trade. The Shanghai Composite was up before the long lunch

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Macro Morning

By Chris Becker   The Dutch election pushed up Euro stocks overnight, but US bourses retreated or put in scratch sessions taking pause after the post-Fed meeting bounce. Undollar assets moved higher against USD while oil slipped again as gold moved higher above $1200USD per ounce. Looking at Asia’s session yesterday, the Shanghai Composite closed nearly

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Macro Afternoon

by Chris Becker Markets in Asia reacted positively to last nights lead following the Fed’s interest rate rise as the conga line of tightening fiscal policy continues with the Chinese central bank raising rates today, the BOJ holding fire and the BOE meeting later tonight. Oil and gold rose as did the other undollars with