Australian Shares

Asian share markets are bouncing back strongly on the back of a solid US manufacturing PMI print overnight and a possible resolution to the latest Epstein distraction as Iran deliberates on shutting down its nuclear capabilities.

Chart from TME.

Overnight saw the release of a very strong US ISM manufacturing PMI print which gave industrial stocks on Wall Street a big lift and will likely spread to a risk on mood here in Asia on the open.

Its a sea of red across Asian share markets as margin calls from the precious metal collapse cause equities to fall over although there was a fair amount of regional data that added to the volatility, including poor Chinese PMI prints and weird moves on Korean markets.

Friday night saw a huge reversal in precious metals fortunes perhaps triggered by the Trump regime’s nomination of Kevin Warsh as the next Fed Governor or the technical overbought status of both gold and silver.

Overnight saw Wall Street take a hit on tech stock earnings with Apple the next cab off the rank this evening.

Asian share markets are generally higher as all risk markets look on with hesitation around the seemingly inevitable Iran/US war as both oil and gold prices blowout.

Charts from TME.

Nothing much to move markets overnight except a looming war in Iran and a pause in the continued structural decline of the USD with both the Fed and Bank of Canada holding interest rates with ECB officials broadcasting a similar sentiment.

Asian share markets are generally higher but all the activity has been localised here on a very hot CPI print that has all but guaranteed an interest rate rise at the RBA February meeting.

US consumer confidence dropped to decade lows (hard to do your shopping when ICE agents are dragging you out of your car) which was the real catalyst for another huge selloff in USD overnight as the DXY dollar index crashed to a four year low.

It’s green across Asian share markets as local stocks also joined in the fun despite a much higher Australian dollar as the USD remains under enormous pressure against all major undollars as El Trumpo shoots off about South Korea.

Its all about the structural “off-America” risk trade with the US dollar index now down to a four month low with the Australian dollar making another new high as it surged through the 69 cent level at the start of the trading week.

Asian share markets pivoted around inflation prints and other macro news as the chaos from Davos dies down although the TACO trade remains in play.

Wall Street continued the TACO trade overnight led by tech stocks while a series of high inflation data in the US failed to get the USD moving higher with all undollars continuing the structural “off-America” risk trade with the Australian dollar making another new high.

Asian share markets are generally higher across the region with only Chinese shares taking a breather as markets react to YATT (Yet Another Taco Trade) from Trump as all is forgiven over Greenland at Davos.

In a demented, incoherent hour long speech at Davos, Trump finally revealed his master plan by chickening out yet again on his threats to tariff Europe takeover Greenland.

Asian share markets have fallen across the region although Chinese shares remain resilient in the wake of the selloff on Wall Street overnight on a broader “America-off” strategy by all risk markets.

Charts from TME.

Wall Street came back from its long weekend holiday and sold off immediately in response to the EU revokation of the previous Trump-induced 2025 trade deal as the fallout from the shambles over Greenland hit all risk markets.

Wall Street futures fell sharply alongside the USD (and Bitcoin) while gold and undollars rose on the weekend tariff orders from the Trump regime, with the Europeans playing hardball.

Stocks are at their ATH but are crumbling.

With Wall Street closed for a long weekend holiday most risk markets sold off overnight as the blackmail threats on Europe from the Trump regime with counter threats of tearing up the Trump-induced 2025 trade deal heightened concerns of a wider transatlantic trade war.

Wall Street futures fell sharply alongside the USD (and Bitcoin) while gold and undollars rose on the weekend tariff orders from the Trump regime, with the Europeans playing hardball.