Australian Shares

Caution reigns again in Asia after a poor lead from Wall Street overnight, with only mainland Chinese shares plus their Australian proxy in the green as the Yuan continues to be dumped.

By Chris Becker Trump tried to rub out the recent gains in USD by criticizing the Fed’s interest rate rises, causing volatility across currency and stock markets.

A strong unemployment print locally buoyed Aussie stocks as the rest of Asia sold off on the back of a much lower Yuan while the BOJ tapers its bond buying program.

By Chris Becker European bourses again led the confidence train on risk markets with tech stocks dragging down US stocks, even as Fed Chair Powell put forward an optimistic view of the US economy to Congress overnight.

Via Bloomberg: Emerging markets are poised to rally after more than $7 trillion in stocks slid into bear territory, according to three of the world’s largest money managers.

Outside China, Asian stocks extended gains after last night’s rally on Wall Street pushed on by comments from the new Fed Chair.

Weeo, weeoo, weeoo.

By Chris Becker The USD and stocks lifted overnight on the back of Fed Chair Powell’s comments over the strong US economy, which helped to overshadow the ongoing trade tensions.

As Trump trounces Europe and supports Russian hegemony, markets continue to run the concern thread over trade tensions, while pushing the hope barrow on stellar US corporate earnings to keep the whole risk edifice afloat.

Goldman has been terrible.

Asia finishes the week on a relatively upbeat note despite the continued trade war and ructions in Europe over Trump’s barnstorm visit.

By Chris Becker The overnight US CPI print didn’t put a rocket under the USD, coming in firm as expected as all eyes were on Europe with Trump’s NATO bashing taking the heat off any further barrages in the trade war.

Another strange day here in Asia as risk does a turnaround as the focus of Trump’s ire moved to Europe and away from China ever so briefly. This caught the shorts short (guilty as charged) and lead a rally across the region with Chinese stocks leading the way.

AUD is still weak through the morning: Bonds are selling: XJO to the moon!

By Chris Becker Its the day of the dollar as the USD crushes all in its path, including stocks, currency majors and commodities as Trump expands the trade war, pushing over Wall Street confidence amid an upbeat earnings season.

Trumps new round of tariffs has pulled the rug out from the confidence rally of recent days with the Chinese stock markets taking the biggest hits.

By Chris Becker Overnight markets were relatively calm without much selling pressure from the ongoing trade war, with Trump’s new tariff list hitting the headlines after the close and likely to upset the risk-on rally since the NFP print on Friday.

Kind of a  nothing day here in Asia with the Chinese economic data nor the positive lead from Wall Street overnight failing to excite anyone save in Japan, which cashed in on a much weaker Yen.

By Chris Becker Apart from the ructions surrounding Boris Johnston’s “Borexit”, risk markets are back in force with both sides of the Atlantic lifting overnight in response to the strong start to the week here in Asia.

Its risk on across Asia today in response to the very positive NFP on Friday night on Wall Street, setting the agenda for the month ahead.

By Chris Becker  Yet another week full of opportunities for short term traders and full requirement for hedging and protection for long only holders of stocks.

The imminent trade tariffs are not abating risk on Asian share markets with the return of risk on Wall Street last night filtering its way through here locally.

The AUD is soft through the morning: Easy enough to see why.