Australian Shares

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Macro Morning

By Chris Becker Overnight markets were shaken, but not stirred, by President Trump’s reneging on the Iranian nuclear deal. Stock markets on both sides of the Atlantic finished slightly down or with scratch sessions, and while oil prices were volatile they did not falter either with WTI crude remaining above $70USD per barrel. Futures are

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Macro Afternoon

The impact of the higher USD continues to weigh on developed markets, but the big stock bourses in Asia continued their rebound as futures for European and US stocks advanced. Oil prices are the markets to watch, with WTI hovering around the $70USD per barrel level and Brent above $75 as traders await the Trump

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Time to unwind the superannuation system

It is about time someone was honest about Australia’s superannuation system. This multi-trillion dollar financial monstrosity funnels money upwards to the wealthy via tax gifts while failing on its promise to reduce the ‘burden’ of the age pension. Let’s unwind the system. The easiest way to unwind superannuation is to allow funds to be accessed by any

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Macro Morning

By Chris Becker Overnight stock markets responded positively to the great start to the week here in Asia with rallies on both sides of the Atlantic. The USD topped to a new calendar year high while oil prices came along for the ride while bonds also pushed higher as Treasury yields pull back further from

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Macro Afternoon

The fallout from the US unemployment print on Friday has been quite positive, with all stock markets closing higher here in Asia. The USD remained steady against the majors, as most of the action was priced in the late Friday session. Commodities were relatively stable as well while the bond market lifted with the Aussie

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Macro Morning (Trading Week)

By Chris Becker  The US non-farm payroll/unemployment print came and went on Friday night, setting up the timbre of the next months action on risk markets. For stocks, it should be positive, given the reading was the lowest in nearly 20 years, as US stocks launched higher in response, pulling up the stalled European bourses.

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Macro Afternoon

Its another sea of red across Asia as traders nervously await the NFP print later tonight, with the USD rebounding against some currencies in anticipation as the Aussie dollar spiked on Futureboom “forecasts” from the RBA. In the midst tonight will be more earnings releases and some oil rig counts. The Shanghai Composite had a

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Macro Morning

By Chris Becker Stock markets are still digesting the ever stronger USD rally, but overnight the King of currencies finally weakened with a lower than expected ISM non-manufacturing survey putting to question the robustness of tonights NFP. US stocks were down by more than 1% intrasession before recovering for small scratch losses as European stocks

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Macro Afternoon

Asian stocks are mixed once more given the poor overnight lead from US markets, although S&P futures are up slightly on anticipation of some better earnings calls tonight and the Chinese trade talks which are about to commence. The USD remains on a tear, but this means a pullback is imminent, with signs in Asia

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Macro Morning

By Chris Becker The Fed held overnight, happy with the course of inflation in the US as stock markets reacted negatively going into the close setting up for a risky day here in Asia. Treasury yields lifted slightly while gold and the other major currencies stumbled Recapping stocks in Asia yesterday where the Shanghai Composite reopened 

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Macro Afternoon

Outside Australia, its a sea of red across stock markets as risk absorbs the Trump “how I colluded with Russia” questionnaire alongside Chinese traders that came back to work after two days to absorb a much stronger USD. Its a key day on the economic calendar with the Fed meeting later tonight alongside continued earnings

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Retail smashed as JBH spooks

The AUD is up a little this morning: Bonds are bid: XJO is up: Dalian has reopened and is so far confused: Big Iron is bid on the tumbling AUD, not realising that the next hammer to fall is its: Big Gas is still strong: And Big Gold despite the surging DXY: Big Scum’s bear

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Macro Morning

By Chris Becker Tech stocks to the rescue this time with Apple beating estimates and lifting the NASDAQ higher, dragging the S&P500 up as most European markets were closed for May Day holidays (and a little rioting on the side). The ISM Manufacturing print was lower than expected, echoed in falls in UK manufacturing which

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Macro Afternoon

Yet another quiet day here in Asia with Japanese stocks reopening, the rest of the region was taking a break that will extend overnight to Europe as well. The USD  maintained its strength against the majors, but this did not drag commodities down with oil remaining strong as WTI closes in on $69USD per barrel.

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Macro Morning

By Chris Becker Tech stocks were again the drag, pulling industrials down as US bourses could not translate solid gains in Asia and then Europe into moves higher. The USD gained alongside Treasuries however in anticipation of tomorrow nights FOMC rate decision, with last nights PCE deflator coming in strong, confirming the Fed’s view of

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Macro Afternoon

A quiet day here in Asia as Chinese and Japanese stocks markets are closed for holidays, the ASX200 did the heavy lifting alongside Korean markets. Hong Kong shares did the best on the back of tech earnings while currency markets were relatively subdued following Friday’s excitement. The Shanghai Composite was closed, but the latest manufacturing PMI was

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Macro Morning (Trading Week)

By Chris Becker  Stock markets continue to re-risk after earnings in the US surprise to the upside, with the USD gaining strength as Treasury yields spike above the magical 3% level. With a slew of central bank meetings last week, currency markets have returned to some semblance of low volatility but have the heavy boot

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Macro Afternoon

The detente on the Korean peninsula is lifting all stock markets across Asia in reaction to the late earnings Amazon and other tech companies, plus another steady as she goes central bank – this time the BOJ – keeping stimulus on track. Currencies were relatively unchanged, as were bond yields as we head into the

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Macro Morning

By Chris Becker Stock markets were more optimistic overnight in the wake of the ECB hold decision and the solid US data with tech stocks leading the way. Treasury yields fell back below 3% after making a four year high while a slumping Euro gave European stocks a solid tailwind. It should be a positive

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Macro Afternoon

Stock markets were once again mixed here in Asia with Japanese markets advancing in anticipation of the BOJ meeting tomorrow. Risk is positioning for tonight’s ECB rate meeting with the advancing USD cooling off during the session. The Shanghai Composite took back most of its recent gains by falling nearly 1.4% to 3075 points, once again on its way down to terminal

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Australian bank bear market roars

The AUD is up during the day: Bonds are bid modestly: XJO is flat: Dalian is struggling: Big Iron is down as the oil/slowing China pincer bites. Crap Vale earnings isn’t helping: Big Gas is afire. If we sell STO I will personally set Canberra alight: Big Gold is holding. I say sell: The bank

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Macro Morning

By Chris Becker Weakness in tech stock earnings did not drag down US industrials, with the S&P500 gaining in a sea of red as European stocks floundered after a poor showing in Asia yesterday. The USD continued its very strong rally against the majors as the 10 year Treasury yield pipped above 3% in the

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Macro Afternoon

Chinese stocks led the fray here in Asia on signs there maybe some easing of credit restrictions, while the USD continued its advance against the other major currency pairs, with a retreating Yen lifting Japanese stocks. The Shanghai Composite surged nearly 2% higher to 3128 points, rebounding strongly above terminal support at the 3000 point mark. The

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Macro Morning

By Chris Becker Its all about the strengthening USD in a crowded trade overnight with all the major currencies retreating against the King, while stocks end mixed. European shares made small advances on the back of solid preliminary manufacturing PMI data while US industrial advanced on more tariff news, tech stocks fell. All eyes are

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Macro Afternoon

Outside Australia its been a dour Monday for Asia with all stock markets posting small losses as the USD advanced and Treasury yields continued to spike in the wake of uncertain geopolitics on both sides of the Atlantic. European stock futures are up slightly but are likely to reverse on the open but the selloff