A nervous end to a volatile week here in Asia with most stock markets treading water as the USD slipped back against the major currency pairs. In anticipation of the OPEC meeting later tonight, commodity prices are relatively stable as the market prices in a modest production lift. The Shanghai Composite was up before the long
AUD is still poofing around in the high .73s: Bonds are bid: XJO has stalled: Dalian is soft: Big Iron mixed: Big Gas down: Big Gold up: Big Mortgage is still short squeezin’ as ANZ doubled its buyback: With Big Realty in tow: Avagoodweekend!
By Chris Becker We’re in correction territory now as major markets can’t get over round after round of tariff tit-for-tat, culminating last night in Daimler’s profit warning which sent European markets reeling. Staying in Europe, further concerns about Brexit and a debt deal for Greece weighed on the Euro, with the BOE meeting overnight pushing
Via the AFR: The ASX hits a 10-year high in the middle of a ramping trade war between the United States and our most important trading partner, China. That’s not exactly the circumstances under which you’d expect investors to be plunging into Aussie shares. …there are a number of ways Australia could be a winner
You’d think everything is fine outside Australia, but emerging markets and a higher USD are dragging risk markets across the region down. With the BOE meeting tonight, Pound Sterling is hovering at a low against USD, while the Aussie dollar is also plumbing new lows. The Shanghai Composite was unable to translate yesterdays fishy positive session
AUD is weak during the day and looks ready for more: Bonds are flogged but the curve is flattening fast: And as this bad news filters into markets, the ASX is going nuts: Dalian is up: Big Iron is up: Big Gas is flat: Big Gold is up: The Big Mortgage bear market rally is
By Chris Becker What trade war? Risk markets are back, led by tech stocks on Wall Street, as is the USD as all the major currencies dropped versus the King overnight. Gold fell swiftly, while oil prices were muted amid news that the Saudis and Iranians are ready to add to supply. A reversal of Trump’s
Is it all systems go on risk markets again? Not quite, but it seems that sanity may yet prevail with potential relief from the trade war, albeit speculative that Trump may pullback some of the announcements. Stocks across the region rallied from relief more than anything with the USD still mixed against the majors The
AUD is flopping around under 0.74 cents this morning: Bonds are sold: XJO is at a new post-GFC high as threats rise everywhere: Dalian is off the lows: Big Iron is flat: Big Gas is up: Big Gold is up: A short squeeze has taken hold in the banks, the real driver of XJO gains,
By Chris Becker Risk markets continue to reel from the growing trade war as it seems the Trump administration is not going to back down from its scattergun approach and paring back over 30 years of international trade agreements over the course of a few weeks! The USD has recoiled somewhat from its recent gains,
Well now its getting interesting! Asian stocks sold off across the board, except Straya, with risk proxies like the Aussie dollar taking a dive and Japanese Yen bid up on safe haven as this trade war widens up a whole new battlefield. Trump dump of a slump of tarriffs on the Middle Kingdom set this
The AFR is celebrating the new mining boom: A $2 billion acquisition spree by South32 and Gina Rinehart’s Hancock Prospecting has underscored the more upbeat outlook on commodity prices among industry heavyweights, with the scramble to buy or develop world class assets and infrastructure heating up as the world’s largest miners emerge from years of
By Chris Becker A lacklustre night on risk markets in the absence of economic catalysts as traders continue to weigh up the risks of a growing trade war and OPEC makes moves to shore up the flagging oil price. Tech stocks again providing the heavy lfiting on Wall Street as industrials wavered through an upbeat talk
Subdued trading in Asia today with Chinese stock markets closed, as Japanese did the heavy lifting, taking the poor Friday night Wall Street lead and running with it. Perhaps a holiday in China today is a good thing with the tit-for-tat trade war looming with the US, can we next get Trump’s twitter account on
AUD is down through the morning: As DXY threatens breakout of an inverse head and shoulders bottom: Bonds are bid: XJO is down a little: But Big Iron is bashed (Dalian is shut): Big Gas is down: And Big Gold: Big Scum has caught a break as yields fall. This could be a tradable rally
By Chris Becker Another interesting week on risk markets capped by a solid selloff in commodities on Friday night as the USD regained its strength. The international trade war is heating up, with the ECB somewhat ahead of the curve with its shock announcement of a defnitive hold in interest rate appreciation for at least
A mixed end to a big week here in Asia with only Australian stocks putting on a solid bid, although Japanese stocks rallied later in the afternoon as Governor Kuroda was upbeat about Japanese growth prospects. Trump is having another go at China with a new round of tariffs set to be announced today, ramping
The AUD is still under pressure this morning: Bonds are bid: XJO has launched: Dalian is soft: Big miners are up: Big oil is up: Big Gold is up: Even Big Scum has rebounded as yields fall: And Puswad: A word of warning, Shanghai is breaking down as capital flight intensifies: But for today the
By Chris Becker European stocks soared overnight as the Euro tumbled in the wake of the ECB meeting where Super Mario surprised all by announcing absolutely no rate rises for at least 12 months, most likely foreshadowing the next series of trade wars with the US. Wall Street did relatively well, although bank stocks continued
An unimpressive result from the Chinese trifecta of mid tier data, alongside a poor lead from Wall Street overnight saw Asian stocks sell off across the board. An equally unimpressive jobs report locally saw the Aussie dollar flounder after its mild selloff against the USD in the wake of last nights FOMC meeting. The Shanghai
AUD is stable through the morning: Bonds are bid: XJO is flat: Dalian too: Big iron is rebounding: Big Gas is down: Big Gold is mixed: The CBA free fall below broken support continues. WBC too. Given the 10% divi-bribe, markets are definitely beginning to price an earnings problem: No such issues for REA which
By Chris Becker Well the FOMC meeting has come and gone with risk markets volatile on the admission the Fed is looking to steepen its rate rise agenda. Currencies were thrown about but the USD ended up where it started, while the US Treasury bond market was sold off with the 10 year yield breaching through
Asian stock markets have reverted to a risk-off attitude mainly due to the forthcoming FOMC meeting tonight or in a very short term reaction to Trump’s extension of his trade war to China, with tariffs likely to ahead on Friday. The Shanghai Composite had a poor session, closing over 1% lower to 3047 points, accelerating that selloff
The AUD is still falling this morning as, unusually, consumer sentiment has moved the market: Bonds are bid a little: XJO is down: Dalian down at the open: Big Iron likewise: Big Gas too: Big Gold mixed: Big Scum is broken. The CBA price support around $69 is busted. $50 looks a good chart target
By Chris Becker The successful Singapore summit raised expectations of a return to risk overnight, but European markets instead reacted against a very poor ZEW Survey in Germany as a stronger than expected US CPI print for May also took the wind out of US stocks. With the Fed meeting later tonight, the possibility of another
Risk markets have reacted positively to the summit in Singapore with green across the board on stock markets. The USDJPY risk proxy has made a new two week high, with S&P futures also suggesting a new monthly high that should presage a further rally on Wall Street. The Shanghai Composite had a great session, lifting nearly 0.8%
By Chris Becker Emerging frontlines in what could be the biggest trade war in decades are being ignored left and right by risk markets as Asia wakes up to the Korean/US summit in Singapore today. Two tin-pots clamouring for attention on the world stage might attraction volatility, but so far the signs are normal across
Not a pretty end to the week here in Asia with all stock markets selling off in response to the overnight risk-off mood on Wall Street. Its all about trade with Trump continuing to upset the apple cart – and hence the global financial system. The Shanghai Composite has had the rug pulled out, probably
By Chris Becker Emerging markets are ruffling feathers throughout the bond world with a sudden influx of bids sending Treasuries higher late in the session, pushing stocks down on both sides of the Atlantic. Tech stocks in particular were dumped with the NASDAQ down nearly 1% at one stage, erasing some of the gains of
Another green board across Asian share markets today as the positive Wall Street lead kept risk buttons flicking on the on switch. Treasuries and sovereign bonds remain less favourable in the wake of the ECB language regarding its QE program while commodities were relatively steady although the Brent/WTI gap remains wide. The Shanghai Composite has
