Australian Shares

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Macro Afternoon

As the Golden Week holiday in Japan presses on, all focus was on China today with the release of the latest PMI manufacturing print, coming in slightly lower than expected which sent the Australian dollar much lower as expected. The Shanghai Composite rebounded slightly as a result, finishing 0.5% higher to 3078 points. In Hong

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Macro Morning

By Chris Becker  The latest core inflation figures from the US suggest a less robust economic boom than expected with the USD falling as a result as bond yields lifted across the curve. While the broader S&P500 made a new record high it was only just eked out, with European markets also not as bullish due

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Macro Afternoon

The solid finish on Wall Street on Friday night has translated into mixed sentiment here in Asia with Chinese stocks retreating on the mainland, while Japanese bourses were closed and the ASX200 fell back slightly. A similar mixed picture with currencies and undollar assets with gold retreating following its surge on Friday while the Australian

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Macro Morning

By Chris Becker  Friday night saw a positive return to sentiment across both sides of the Atlantic with only the FTSE retreating as the S&P500 almost hit a record high on the back of a strong GDP print, despite some worrying signs within the data. Oil prices took a dive while gold recovered somewhat alongside

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Macro Afternoon

A staid finish to the week here in Asia with most stock markets putting in losses following an equally poor showing on Wall Street overnight. The USD has weakened against most of the undollars, particularly the Australian dollar which has bounced off the 70 cent level and gold is finding some support after a very

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Macro Morning

By Chris Becker  Last night saw a lot of mixed sentiment across both sides of the Atlantic with the tech heavy NASDAQ the only leader, as Tesla shares fell sharply on disastrous earnings. Volatility in currency markets is gaining again, particularly in Yen while both Euro and Pound Sterling slipped against USD, the Australian dollar

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Macro Afternoon

A weaker than expected CPI print saw the Australian dollar fall sharply today with only the ASX200 rising amid a sea of uncertainty on other Asian bourses. The volatile Yen is keeping Japanese markets at bay, while Chinese stocks are also treading water. The Shanghai Composite has closed with a scratch session, up only 3 points

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Macro Morning

By Chris Becker  Last night saw stock markets surge, particularly on Wall Street as oil prices continued higher while the USD firmed against almost everything, including gold which slumped to a new five month low. A rally on US Treasuries was unexpected, while Fed Futures are also implying a higher chance of a rate cut

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Macro Afternoon

A mixed day across Asian stock markets today as most play catchup from the Easter break and the surge in oil prices overnight. Yen moved sharply in both directions, taking the confidence out of Japanese shares while the local ASX200 had the biggest move – higher – due to a much lower Australian dollar. The

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Macro Morning

By Chris Becker  With the Easter long weekend behind us, there’s a lot to absorb from what’s been going on risk markets in the break. The biggest headline is the 3% plus surge in crude oil prices on the back of a US bid to block Iranian exports, sending them to a six month high,

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Macro Afternoon

A sea of red across Asian stocks markets today in reaction to overnight caution on Wall Street with the latest unemployment print locally causing the ASX200 to slip while Japanese markets have given up almost all of their recent gains as Yen strengthened on the risk off move. The Shanghai Composite is set to close lower

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Macro Afternoon

Mixed conditions across Asian stocks markets today with Chinese markets absorbing the trifecta of economic prints without much fuss while Japanese bourses advanced on a selloff in Yen. The Australian dollar still wants to move higher almost breaking through 72 cents and a new weekly high. The Shanghai Composite has floated along to close only a handful

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Macro Morning

By Chris Becker  Last night saw risk markets try to breakout of its recent contained mood with US stocks putting in scratch sessions as European bourses found some more risk as Euro and Pound Sterling retreated against USD. Industrial production figures from the US is partly to blame on the spoiling mood while the German ZEW Survey

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Macro Afternoon

A lot better conditions here in Asia today with Chinese markets rebounding on the expectation of much better economic data while the Australian dollar was the biggest currency mover on the release of the RBA Minutes, sending the Pacific Peso down over 30 pips. The Shanghai Composite has rebounded sharply by climbing over 2% to close

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Macro Morning

By Chris Becker  Last night saw risk markets in a contained mood without much activity with both sides of the Atlantic putting in scratch sessions on stock markets while currencies were range bound as no significant economic events were reported. Treasury yields were also relatively unchanged with Fed futures still stuck on an even chance

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Macro Afternoon

Outside China it’s been a fairly good run across stock markets here in Asia to start the week, absorbing the weekend news and lifting on the risk-on Friday mood. The USD continues to weaken against almost everything but gold, which is facing a near three month low as buying support evaporates. The Shanghai Composite has

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Stay long grifters, influencers and lobbyists

There have been a number of commentators who have made the point that we have inflation in things we need (housing, utilities, fruit&veg, hospital services) and disinflation in things that we want (ice cream, TVs, cars, washing machines etc): But this isn’t the full story. Of the eleven main categories that the Australian Bureau of

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Macro Morning

By Chris Becker  Friday night saw US stock markets rise on the back of strong bank earnings to a new six month high. US Treasury yields rose past the 2.5% barrier again while the USD fell against everything but Yen, confirming the risk on mood. Looking first at the Asian session on Friday which saw

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Macro Afternoon

Another very mixed session here in Asia as traders position themselves before US earnings tonight with the overnight surge in USD continuing against the commodity currencies, although Euro is coming back late in the session. The Shanghai Composite is set to close below 3200 points again, putting in a scratch session while the Hang Seng Index has continued

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Macro Morning

By Chris Becker  A big surge in USD overnight took the wind out of US stocks with Wall Street’s anticipated earnings season looking at a shaky start. The delayed Brexit result has seen volatility in Pound Sterling reduce, but the German government’s slashing of growth forecasts took the floor out of Euro. Today’s RBA Financial

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Macro Afternoon

Another mixed session here in Asia with Chinese stocks retreating the most, while Japanese bourses stabilised, local markets were wary of the Scomo election call, with the Australian dollar tapering slightly from its overnight surge. The Shanghai Composite has closed 1.5% lower to just below 3200 points, reacting poorly to the expected CPI print, while the Hang

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Macro Morning

By Chris Becker  Overnight markets rebounded slightly with US equities leading the charge as the latest FOMC minutes repeated a “patient stance” while core inflation data was subdued, leading to falls in Treasury bond yields and the US dollar. The ECB held fire but again noted downside risks to growth, with the Euro and Pound

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Macro Afternoon

Its a mixed reaction across risk markets here in Asia after the dip in stock markets overnight with Japanese stocks the only bourses in retreat, while undollar assets like gold, Aussie and Kiwi all advance against the USD. The Shanghai Composite has closed up a couple of points to 3240, starting in the red but still

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Macro Morning

By Chris Becker  It only took Trump throwing his weight around with more threats of tariffs on Europe offsetting the potential year long delay of Brexit overnight. Not helping was the IMF again dropping its growth forecasts which sent US Treasury yields dropping substantially as currencies were somewhat volatile but finished the day almost unchanged.

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Macro Afternoon

Stock markets have had a generally positive day across Asia, mimicking the small advances on Wall Street overnight as the USD slipped against the majors, although a stronger Yen continues to provide a headwind to Japanese stocks. The Shanghai Composite has closed down a couple of points to 3239, still unable to gain any headway following

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Macro Morning

By Chris Becker  Volatility was subdued on overnight markets with the lack of any real news apart from growing instability in Libya which saw oil prices spike, while the USD retreated slightly alongside US Treasuries. With a Brexit deadline stretched further and no news = no volatility, Pound Sterling was largely unmoved, although Euro pipped

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Macro Afternoon

Risk markets have reopened across Asia after the weekend gap and its been a mixed session for stock markets with Japanese bourses retreating while the local ASX200 rebounded after its stumbling finish on Friday night. The USD has firmed against the majors except Yen which has strengthened, hence the drop in Japanese domestic stocks. The

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Macro Morning

By Chris Becker  Stronger than expected US non-farm payrolls (employment) numbers on Friday night buoyed stocks across both sides of the Atlantic, while the USD firmed alongside bonds with Treasury yields falling across the curve. PM May asked for an extension to the Brexit debacle while backroom shenanigans keep Pound Sterling volatile and Asia-based traders

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Macro Afternoon

Stock markets across Asia are mixed with the local ASX200 retreating while Chinese stock markets are closed for a holiday as Japanese bourses lift slightly. The USD is weakening going into tonight’s US unemployment print with Pound Sterling rising the sharpest. US and Eurostoxx futures are slowly rising going into tonight’s session with the four hourly chart of the S&P 500