Australian Shares

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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

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Macro Morning

By Chris Becker  With risk now focusing on tonights US non-farm payrolls (employment) numbers, the bond market stabilised while US stocks stalled at their yearly highs as the ongoing Brexit talks, deals, votes and back stabbing continues apace. Looking first at the Asian session yesterday, where the Shanghai Composite lifted nearly 1% to remain well

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Macro Afternoon

Stock markets are mixed across Asia as this bull rally takes a small pause with the ASX200 the biggest loser as the Australian dollar remains elevated post Budget night. The Shanghai Composite is up 0.9% going into the close at 3244 points, while the Hong Kong Hang Seng Index has retreated 0.5% to 29821 points after getting

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Macro Morning

By Chris Becker  Risk markets have extended their rally overnight as the USD wanes against the undollar majors, although gold remains stalled, Pound Sterling made a weekly high on the back of another failed Brexit vote. The European wide services PMI print was not as disappointing as expected, although the US ISM version hit an

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Macro Afternoon

Stock markets here in Asia keep advancing on hopes that a US/China trade deal can be announced soon with the USD losing ground against all the majors, particularly Pound Sterling, while gold remains in the doldrums, Bitcoin is moving closer to $5000USD. The Shanghai Composite is up over 1% going into the close to remain above

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Macro Afternoon

A big breakout in Bitcoin is dominating the market wires this afternoon as Asian stock markets continue to rally as risk sentiment improves, despite the woeful mishandling of Brexit overnight in the UK parliament.  The RBA meeting came and went with no change except in language which saw the Aussie dollar fall below 71 cents

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Macro Morning

By Chris Becker  It was a busy night on risk markets with the ongoing Brexit saga only providing profit to traders (and not much sleep!) as the UK Parliament again showed how sad the whole situation is with another “nuh-huh” vote on, well anything. Economic prints came back better than expected in the US with

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Macro Afternoon

A big surge across the board here in Asia in response to the positive finish to the week on Friday night on Wall Street with Chinese stocks leading the way. The USD has retreated against the risk currencies, namely Kiwi and Australian dollar, but gapped higher against Yen, supporting the risk on mood. The Shanghai

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Macro Morning (Trading Week)

By Chris Becker  A tumultous week on risk markets, with the Brexit saga leading the way as volatility on bond markets continues to push stocks and currencies around. The week ended on a much better note with US markets rallying behind hopes for a final deal on US/China trade, even though economic data continued to

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Macro Afternoon

A much better than expected finish to the week here in Asia for share markets, with Chinese bourses leading the way while Japanese markets finally gain some strength following the USD wide rally that is suppressing Yen in the main. The Australian dollar remains stubborn while the Kiwi is also trying to get off its self

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Macro Morning

By Chris Becker  Supposed good news surrounding the US/China trade talks plus an easing in the US Treasury bond rally saw a bid in risk sentiment overnight, with US stocks rallying while European bourses lingered. Gold sharply reversed alongside Pound Sterling as the Brexit stalemate continued. Looking first at the Asian session yesterday, where Chinese stocks

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Macro Afternoon

Another very mixed session across Asian share markets as bond markets continue to rally while the USD is having a breather against Yen and Kiwi in particular, the former pushing Japanese stocks lower. Gold is trying to stabilise here above $1300USD per ounce while the Australian dollar is climbing back to the 71 handle after

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Macro Afternoon

Asian share markets are having another mixed session despite the positive sentiment from overnight with all eyes still on the bond markets, particularly the Australian. The Aussie dollar took a dive in sympathy with the Kiwi as the RBNZ signalled another possible rate cut is on the way while Yen remained soft against USD. The

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Macro Afternoon

Asian share markets are mixed following last night’s equally mixed session, with Japanese bourses bouncing the highest on the back of a slightly weaker Yen. The Australian dollar is rising the fastest amongst the undollars while gold has retreated slightly after getting ahead of itself last night. The Shanghai Composite is down 0.9% again going

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Macro Morning

By Chris Becker  Volatility continued overnight with bond markets pushing the whole risk edifice around as US stocks retreated following a dour session here in Asia. The German IFO survey did better than expected which buoyed European stocks somewhat but this was overshadowed by the continued slow train wreck that is Brexit. Looking first at

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Macro Afternoon

Asian stock markets have fallen sharply in response to the poor showing on Wall Street on Friday night as the US bond yield curve inversion and the growing likelihood of a European recession weigh heavily. The Shanghai Composite is down nearly 0.9% going into the close to get back below 3100 points, currently at 3075 while the

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Macro Morning (Trading Week)

By Chris Becker  This may end up being the most important Trading Week of the year with the looming Brexit, the Mueller report fallout and ongoing concern over a European recession and US inverted yield curve combined with a big blowout in the US budget deficit. Looming bad news everywhere with US stocks plunging on Friday

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Macro Afternoon

Asian stock markets are likely to finish the week on a sour note as the expected Brexit extension from the EU plus some very modest inflation and economic figures from Japan combined to dampen overnight positive sentiment. Australian stocks were the only ones to advance as the Aussie dollar remained depressed after its overnight reversal

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How high can global stocks climb?

Who knows? We remain cautious for a number of reasons: Chinese stimulus to date is half-arsed; Europe is in virtual recession and Brexit looms; the US is going to slow in H2; the US/China trade deal is likely to be a dud. All of this adds up to full valuations with a soft EPS outlook.

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Macro Morning

By Chris Becker  A return to risk overnight with US stocks rebounding as the USD also took back gains following the reversal from the FOMC meeting fallout. European stocks were less sanguine with only the FTSE rising as Theresa May headed to Brussels once more while the BOE held fast on interest rates. Looking first

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Macro Afternoon

Asian markets are mixed today in response to the overnight FOMC Meeting with much higher undollar assets providing headwinds. Japanese stock markets were closed, while the Yuan appreciated as the PBOC set the strongest rate since July last year. The Shanghai Composite is back over 3100 points, currently up 0.7% to 3113 after yesterdays sudden