Australian Shares

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Macro Afternoon

A mixed start to the week on risk markets here in Asia with another public holiday in Japan taking a lot of volume off the table, while the welcome return of Chinese markets is seeing confidence lift, at least on the mainland. The USDCHF pair had a big flip higher on what looks like another

0

Macro Morning (Trading Week)

By Chris Becker  Looking at Chinese stocks first, where last week saw the Shanghai Composite closed for most of the Chinese New Year holiday, reopening on Friday with a solid close to be 1% higher and continuing to stabilise above tentative support at the 2600 point level. With the US/China trade talks the main focus, possibly

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Macro Afternoon

The lack of progress in both the Brexit no-deal and the US China trade talks continues to weigh on risk markets with overnight losses festering into the Asian session today as some Chinese markets return from holiday. In currency land most undollar assets are unchanged but the Aussie dollar is failing against the crosses, notably

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Macro Morning

By Chris Becker  Risk markets are selling off going into the end of the week with a lack of progress on the US China trade talks to blame while the European Commission downgraded their latest growth forecasts. A run to safe havens was the result overnight with US Treasuries rallying while European currencies stabilised after

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Macro Afternoon

The biggest loser in the Asian session today was the Kiwi on a big job number miss first up this morning, falling more than 100 pips against USD and AUD. Aussie stocks lifted on the back of a much weaker Australian dollar and a continued rebound in bank and financials. US and Eurostoxx futures are

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Macro Morning

By Chris Becker  Equity markets were subdued overnight with both sides of the Atlantic registering minor losses as traders take a pause amid a much stronger USD surge. Treasuries were bid slightly while the Australian dollar continued to fall on the change in the RBA’s bias from yesterday’s speech from Governor Lowe. Looking at the

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Macro Afternoon

The Asian session was generally upbeat today followed the positive lead from European and Wall Street overnight. The bottom fell out of the Aussie dollar as Governor Lowe indicated a “more evenly balanced” approach to interest rates – read: they’re gunna cut! Due to the Chinese New Year holiday only a few share markets are

15

Bonds boom as RBA breaks

The Aussie dollar is still falling after the RBA buckled today: Bonds are booming and breaking out: XJO is enjoying the lower dollar: Big Iron is running. This is the monthly chart. I’m wondering now if RIO won’t charge a record high before the crash: Big Gas is down on the US inventory build: Big

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Macro Morning

By Chris Becker  A big rally in shares on European markets overnight, followed by solid moves on Wall Street will ensure a robust session here in Asia on the open. The USD rose slightly although gold came back, but the biggest casualty was Pound Sterling dropping to a near monthly low. Looking at the action

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Macro Afternoon

The Asian session was mixed today due to the Chinese New Year holiday with only a few markets open, Japanese bourses put in a scratch session while the ASX200 launched higher on the post-slap on the wrist “don’t do that again” bank trade. The RBA did nothing at its meeting this afternoon, keeping rates steady

1

Macro Morning

By Chris Becker  A mixed session in overnight markets with European stocks retreating while US bourses advanced alongside the USD with bond yields also on the up and up. Without much dataflow except some earnings reports, markets have nothing but the new Fed trend to go on, and no news is good news for most

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Macro Afternoon

The Asian session starts the week in a strong position, stocks bouncing after the coming and going of Friday nights US unemployment print, which saw a general advance in the USD. Australian macro news was not good today, sending the Aussie lower before tomorrow’s RBA meeting while offshore trading in Yuan was quite volatile due

1

Macro Morning (Trading Week)

By Chris Becker  The February non-farm payroll numbers came and passed on Friday night sending markets back into caution mode as the print solidified the Federal Reserve new-ish dovish mood that patience on further interest rate rises is warranted. Looking at Chinese stocks first, where last week saw the Shanghai Composite finally stabilise above tentative

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Macro Afternoon

Outside China it’s been a flat finish in the Asian session with most stock markets putting in scratch results as the US/China trade talks recommence. Currency markets are also sanguine although the Yuan has weakened for the first time this week leading into tonights NFP print. Chinese shares continue to move higher with the mainland

2

Macro Morning

By Chris Becker  The USD has recovered slightly from the post FOMC dovish sentiment move as US stocks continued their rally as solid earnings reports keep coming in. European shares are a little rattled by the Italian recession now baked in while German unemployment was unchanged, the ECB is looking down the barrel of more

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Macro Afternoon

The Asian session was dominated by the release of the latest Chinese PMI manufacturing numbers, which remained in contraction mode, while the PBOC gave the Yuan a big push higher against USD, manuevering before the latest round of trade talks with the US. The reaction to the Federal Reserve’s meeting overnight has seen most undollar

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Macro Morning

By Chris Becker  A newly dovish Fed is goosing risk markets and sending the USD into a tailspin overnight, with the latest FOMC Meeting resulting in a hold on any further rate rises. The Brexit shenanigans continued but had no material impact on Pound while other undollar currencies like gold lept higher. Today will be

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Macro Afternoon

Leading up to tonight’s FOMC meeting, stocks in Asia are somewhat mixed and rolling around without any big moves. The Australian dollar blipped up towards the 72 handle on the latest CPI print which was slightly higher than expected, while Yen was unchanged but offshore trading in Yuan strengthened considerably. Chinese shares are mixed with the

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Macro Morning

By Chris Becker  Risk sentiment was basically unchanged overnight with all eyes on the continued Brexit vote and re-negotiations with Pound Sterling dropping while other currencies remained stable. The leadup to the FOMC meeting is keeping caution at bay with the latest consumer confidence numbers also showing the effects of Trump’s government shutdown. Looking at

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Macro Afternoon

Caution reigns as traders weigh up the next FOMC meeting and continued US earnings, as the fallout from Caterpillar’s result last night and no further developments in US/China trade talks kept risk off the table. Currencies are relatively stable although the Kiwi is seeing a late bid, while the PBOC strengthening of the Yuan fix

2

Macro Morning

By Chris Becker  Some pretty poor earnings reports took the wind out of the sails of US stocks last night, with Caterpillar hurting from the ongoing US China trade war. Treasury yields fell as a result, with gold and other undollar currencies pushing higher as the USD retreated. I think US markets preferred the government

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Macro Afternoon

An upbeat finish to the week here in Asia with most stock markets in the green going towards the close, with risk proxies USDJPY and Aussie dollar moving higher in unison to a risk on mood. The biggest mover of the day is Pound Sterling as reports swirl about a better “deal” deal for Brexit.

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Macro Morning

By Chris Becker  A somewhat mixed night on equity markets with most of the action again in currencies as Mario Draghi pulled the rug out from under the Euro on his “downside risk” comments, as speculation continues to mount about the outcome of the US/China trade talks. The continued Trump government shutdown is not helping

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Macro Afternoon

It’s been a very interesting day here in Asia with most action again centered on currency markets with the BOJ meeting, Australian unemployment and the NAB interest rate hike dominating. The Aussie dollar has been on a roller coaster, falling against almost ready after spiking following the unemployment print, with other currencies stable moving into

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Macro Morning

By Chris Becker  A tenous night on Wall Street with solid earnings reports unable to breach the caution over the continued Trump government shutdown nor the tension over the US/China trade delegation, with the White House admitting a near certain 0% GDP growth for Q1 not helping either. Pound Sterling and Euro jumped higher on