Australian Shares

AUD is down further during the morning: That possible XJO double-top is looking a little more serious as the bourse falls below 6000: Bonds are bid bigly.

Generally a sea of red across Asian stock markets today, with no real lead overnight, risk markets are twitchy about a cavalcade of catalysts.

By Chris Becker A long weekend for US and UK stocks has not helped risk markets overnight, with a continued slump in oil prices and new elections called in Italy adding to the uncertainty.

A very mixed day across Asia as the reaction to the new and improved Korean summit plus the OPEC reversal  on Friday night has seen oil prices continued to fall, the USD falter and the ASX200 almost crack below the psychologically important 6000 point level.

AUD is up a little through the morning with EUR on hope of new Italian elections: Bonds are bid bigly with the two year back below 2%.

By Chris Becker  Risk markets are still all over the place as the old adage of selling in May and go away may prove prescient again this year.

The overnight pullback on risk markets in the wake of the Trump “diplomacy” over North Korea has translated into similar moves here in Asia, although Japanese stocks fared better than expected as Yen weakened against USD throughout the session.

AUD is soft during the morning after weak Japanese inflation: The Bondcano is bid: An XJO double-top is still in play but within a larger bullish ascending triangle: Dalian is soft: Big Iron too: And Big Oil: Big Gold is back: Banks are still taking heat.

By Chris Becker Trump’s sudden cancellation of the summit with North Korea caught markets a bit unawares, sending European stocks down while US bourses recovered later in the session.

Trade deals are front and centre of worries on Asian markets today on the back of the Fed’s release of its latest minutes, which seem to be pushing out the June rate rise.

By Chris Becker It was looking like another bad night on Wall Street before the latest FOMC minutes helped push stocks higher later in the session as the board revealed their lack of follow through on raising rates.

Its looking more and more like risk-off as Asian markets retreat in line with US markets overnight, the possible breakdown of talks on the Korean peninsula and the US growing trade war with China the likely catalysts.

By Chris Becker US stock markets retreated late in the session on news that the Korean summit may not be going ahead, pulling the USD down with it as commodities remained relatively stable.

Asian stocks have not translated the firm gains on Wall Street overnight, with falls across the region as currency markets shake out a recently weaker USD.

The Australian dollar short squeeze is still running through the morning: Bonds are bid: XJO is copping it as the double-top firms up: Dalian has opened weak: Big Iron too: Big Gas to the moon!

By Chris Becker US stocks took the positive mood in Asia yesterday but ignored a mixed session in Europe to close higher, although tech stocks dragged the chain compared to industrials.

A generally positive day across Asia to start the trading week.

By Chris Becker  A week defined by a near 10 year high in US Treasury yields and a resurgent USD, which put pressure on equity markets around the world.

Another mixed session here in Asia as the week draws to a close with Japanese stocks advancing while Chinese and satellite bourses like the ASX200 scratch along for the ride.

Recall that one of MB’s favoured allocations has been dollar-exposed industrials.

By Chris Becker Its enough to send someone drinking as markets go from gains to falls day in day out!