More pressure for the Aussie on risk aversion

  The shift in risk appetite overnight, caused by a jump in new CoVid-19 cases outside of China, piled more pressure on the beleaguered Aussie. Weak local data added to the downforce, pressing AUD/USD to the lowest levels in 11 years.   Australia services PMI drops below 50 The Commonwealth Bank services PMI for February […]

Daily Markets Broadcast 2020-02-21

Daily Markets Broadcast 2020-02-21 Wall Street falls despite strong US data A rise in the number of new CoVid-19 cases outside of China saw US indices slide yesterday, despite data indicating the US economy is performing well.   US30USD Daily Chart The US30 index fell yesterday and looks to be extending those losses at this […]

Aussie slumps as unemployment rises

  AUD/USD at 11-year low Australia’s unemployment rate rose to 5.3% in January, up from 5.1% the previous month, and the highest reading since October last year. The uptick can be partly explained by an increase in the participation rate to 66.1%, the highest since September, from 66.0%. The rest of the jobs report looked […]

Daily Markets Broadcast 2020-02-20

Daily Markets Broadcast 2020-02-20 Wall Street advances on China boost, Fed minutes Hopes that the China stimulus measures will be enough to shore up the China economy lifted most US indices to new highs, while FOMC minutes suggested the Fed’s wait-and-see policy remained intact. The Australian jobs data for January came in stronger than expected. […]

Gold firmer as death toll tops 2,000

  Gold at six-week high A warning from Apple yesterday about not hitting Q1 targets due to the impact of CoVid-19 started gold on an upward trajectory yesterday. Apple’s warning comes as other corporates update markets about supply chain issues as a result of the shutdown of some of China’s manufacturing capability, and raises fears […]

Daily Markets Broadcast 2020-02-19

Daily Markets Broadcast 2020-02-19 Wall Street indices pressured by Apple warnings Apple’s warning that it will miss Q1 targets due to the CoVid-19 virus saw markets open under pressure, and they stayed there. Apple’s warning comes as other companies update about supply chain disruptions on the back of factory closures in China.   US30USD Daily […]

Daily Markets Broadcast 2020-02-18

Daily Markets Broadcast 2020-02-18 US indices open lower after holiday US indices slid this morning as investors assessed whether China’s stimulus efforts will be enough to counter the CoVid-19 threat. Oil prices rise further.   US30USD Daily Chart The US30 index was steady yesterday in holiday-thinned trade, but has opened weaker this morning The 55-day […]

Markets quiet on US holiday

  Today’s Asian morning session was a quiet, timid affair, with investors unwilling to participate given the US President’s day holiday today. Markets were generally adopting a mild risk-on approach, with equity indices firmer and risk-beta currencies better bid. US indices rose between 0.16% and 0.40%, with the NAS100 index gaining the most, while the […]

Daily Markets Broadcast 2020-02-17

Daily Markets Broadcast 2020-02-17 Wall Street slides ahead of long weekend US indices fell Friday amid caution about the spread of the CoVid-19 ahead of the long weekend in the US. Today is President’s Day, so liquidity and volumes could be limited. China, Hong Kong and Singapore have pledged fiscal stimulus to fight the downturn […]