Australian Shares

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Macro Morning

By Chris Becker  Wall Street and the rest of the risk complex are truly dicing with danger, with European stocks slumping on Friday night while US bourses barely kept above key support levels as rising US/China tensions, and concerns over the spreading Trumpvirus in the US and the lack of any fiscal measures weighed everything

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Macro Afternoon

by Chris Becker Asian stock markets have reacted poorly to the overnight slump on the NASDAQ with concerns mounting about the lack of breadth in the rally, plus the economic fallout between rising US/China tensions. In mainland China, the Shanghai Composite is down over 2% to 3250 points, accelerating in the selloff while in Hong

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Macro Morning

By Chris Becker  Disappointing US jobs data and the rising US/China tensions, coupled with ridiculous narrowness of US stock advances pulled back Wall Street and European bourses overnight as we head into the end of the trading week. The USD is mixed against some of the majors with stalls on Pound Sterling and Aussie after

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Macro Afternoon

  by Chris Becker Sentiment is mixed again here in Asia with Japanese stocks having a long weekend, while Chinese stocks are falling slightly as a result of the rising Chinese/US tensions. The USD is still weak against all the majors with Bitcoin finally showing some signs of life during the session as gold keeps

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ASX golden bull is born

And running. The Lunatic RBA’s AUD thermal is still in play: Yields dead: XJO is flat: Big Iron is soft: Big Oil as well, barring the evil Santos: Big Gold is running after solid results from NCM and EVN, not to mention the incipient gold bull market: Big Banks have faded the DoleHider bounce as

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Macro Morning

By Chris Becker  European stocks sagged while Wall Street surged despite another record day of new coronavirus cases, deaths and hospitalisations across the USA. The USD continues to slump against everything, with gold and silver soaring once again overnight, while all other industrial metals slipped or were steady. It looks like a green day across

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Macro Afternoon

#747Farewell to the last 747 Qantas flight today….sad times for aviation by Chris Becker Sentiment has shifted again to a risk off mood with stocks struggling here in Asia today, reflecting the fall in tech stocks overnight on the NASDAQ. The rout in USD has abated somewhat, although the Aussie dollar, gold and silver remain

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Wilson: Stock prices only go up

Matthew Haupt is a lead portfolio manager at Wilson Asset Management at the AFR: Highly complex and unpredictable, a second wave effect is likely to lead to one of three outcomes: The virus takes hold and economic conditions deteriorate. Governments alternate between opening and closing economies. The virus is contained, driving a strong economic recovery.

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Macro Morning

By Chris Becker  Sentiment remains super positive as the EU stimulus and fiscal sharing package and vaccines news continue to propel equity and commodity markets higher, while at the same time sending the USD to a five month low against nearly everything else. The undollar currencies, plus gold and silver, all had sterling sessions overnight,

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Macro Afternoon

by Chris Becker News of a potentially successful coronavirus vaccine is sending stocks higher across the region, with local stocks leading the way even as the Federal government slashes its economic stimulus package come September. Gold is soaring ahead as well to a new high while everything else except Yen is also rising against USD.

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Macro Morning

By Chris Becker  The mild start to the trading week here in Asia translated into much firmer gains once Wall Street opened, due to the promising vaccine news and potential fiscal stimulus from the EU and US Congress. The NASDAQ blew out over 2% higher to a new record high, with stock markets given the

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Macro Afternoon

by Chris Becker Outside of Australian stocks, its been a good start to the trading week here in Asia, with the somewhat positive mood from Wall Street on Friday translating into mild gains today. Currencies are relatively quiet, although Euro is shooting out the gates and gold is starting to look bullish going into the

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Macro Morning

By Chris Becker  Global stock markets saw a mixed end to the trading week with Wall Street trying in vain to burst out of its recent funk with a series of solid corporate earnings, although Friday night saw a rise in bond yields and fall in the USD, as expectations of more upside in equities

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Macro Afternoon

by Chris Becker The soft mood in Asia continues as we end the trading week as stock markets remain in retreat mode and wipe out the start of week gains. The USD is reversing slightly against the majors, with gold just hanging on after its fallback last night while other risk assets are also stable

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Macro Morning

By Chris Becker  Global stock markets are getting wobbly again with Wall Street stumbling despite good earnings from major banks and solid retail sales data for June. The ECB didn’t help or hinder with its latest meeting, although USD continued to firm from yesterday’s reversal with the Australian dollar and other commodities all fell overnight

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Macro Afternoon

by Chris Becker A soft mood in Asia with stock markets in retreat mode and erasing the start of week gains. The USD is moving higher against the majors, except gold which is still strong, and Yen starting to move higher as safe haven buying accelerates as coronavirus cases continue to spike across the world.

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Macro Morning

By Chris Becker  Stocks shot out of the gate on the European open last night, and technically price charts are exhibiting breakouts across the risk complex, but sentiment remains complicated at the US earnings season gets underway. Risk was pushed higher on bullish vaccine news, not anything substantial like the slowing of US consumer spending

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Macro Afternoon

by Chris Becker Outside of China, stocks have continued their strong surge on the hopes of a coronavirus vaccine and for a strong showing in US earnings. Gold remains elevated above the $1800USD per ounce level while Bitcoin is struggling again at a new daily low. In mainland China, the Shanghai Composite is down nearly

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Brace for dividend shock

Via Bloomie: Australia’s largest companies are expected to slash dividend payouts over the August reporting season by the most since the global financial crisis as the coronavirus pandemic eroded corporate balance sheets. Payments from firms on the S&P/ASX 200 index may plunge as much as 40% in 2020, before declining another 11% in 2021, according

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ASX pops on vaccine hopium

The Australian dollar stuck its nose above 70 cents earlier: Bonds are crushed: XJO has popped this morning on vaccine hysteria but its chart is pretty neutral: Big Iron is flying: Big Gas isn’t: Big Gold still looks bullish with a solid uptrend: Outside of preposterous CBA, Big Banks appear locked into a new downtrend.

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Hamish Douglass remains bearish

A good peice by the Magellen doyen: Donald Rumsfeld, the former US Secretary of Defense in the administrations of George W Bush and Gerald Ford, provided a useful framework to evaluate problems when he stated: “Reports that say that something hasn’t happened are always interesting to me, because as we know, there are known knowns;

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Macro Morning

By Chris Becker  Risk sentiment swung wildly again overnight echoing the previous session as the US corporate earnings season got into full swing. While European stocks lagged, Wall Street surged after the latest CPI figures were higher than expected and vaccine news overshadowed continued bad news around COVID-19 cases. Commodities were in a holding pattern,

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Macro Afternoon

by Chris Becker Stocks are retreating across the region in the wake of the sharp reversal on Wall Street overnight, not quite taking back Monday’s gains, but more importantly putting a lot of fear into a massively correlated market that is stretched too thin.  Gold is just hanging on above the $1800USD per ounce level

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Macro Morning

By Chris Becker  Volatility of the bad kind is creeping in to risk markets with the NASDAQ setting a record high overnight before violently closing 2% lower that took correlated stock markets down with it. Oil prices fell back too as the USD oscillated against the majors, lifting vs Yen and Pound Sterling, but Euro

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Macro Afternoon

by Chris Becker Stocks are jumping out of the gate to start the trading week in a positive mood, following the surge on Wall Street on Friday night which gave a united signal to the risk complex to buy up (almost) everything.  Gold is back above the $1800USD per ounce level as other undollars rebound

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Macro Morning

By Chris Becker  Another divergence in risk on Friday with Asian share markets having a red session to finish the week, while despite a big surge in COVID-19 cases and deaths in the US, Wall Street pulled a swifty and rocked the risk complex with another solid session. US inflation measures remained soft, helping add

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Macro Afternoon

Stocks are falling going into the close here in Asia as the trading week ends and markets gear up for earnings season on Wall Street next week. Gold is just hanging on to the $1800USD per ounce level as other undollars feel the rebound of the stronger USD on the risk aversion trade. S&P futures

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Macro Morning

By Chris Becker  Risk sentiment continues to grow negative – outside of tech stocks – with Wall Street falling in response to the US Supreme Court ruling on the fraud-in-chief’s tax returns and the rising death toll and positive caseload from coronavirus. The USD firmed overnight as did bond yields, while only oil fell in

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Macro Afternoon

It’s all green again across Asian stock markets, and despite rising COVID-19 cases in Tokyo, Japanese authorities are looking to ease restrictions within the nation, boosting economic hopes, while locally the chance of further lockdowns has had no impact on the ASX200, at least for today. Meanwhile, gold continues to hold above $1800USD per ounce