Asia Midday: Coronavirus Steals The Headlines

Coronavirus continues to steal the world’s headlines, with Chinese authorities quarantining additional cities around Wuhan. Chinese New Year public festivities were cancelled across the mainland and Hong Kong, with even Jackie Chan’s latest movie release, postponed. Mainland stock markets had their worst pre-Chinese New Year close on record. The Shanghai Composite and CSI 300 falling […]

Asia Morning: Asia Smells A Rat

With Chinese New Year starting tomorrow, bringing in the year of the rat, Asia clearly smells one with regional markets ignoring a positive overnight session on Wall Street and marking equities sharply lower today. The coronavirus outbreak in China is obviously the culprit. The fall-out of SARS in 2003 remains at the top of Asian […]

Asia Catches A SARS 2.0 Cold

Memories of the SARS outbreak of 2002/2003 have returned to haunt Asia this morning. Stock markets are down across the region as news emerges that the as yet un-named SARS-like virus originating in Wuhan in China has killed four people and has been confirmed as transmissible from human to human.   The timing is unfortunate […]

Asia Morning: Cake By The Ocean

US markets are closed today for Martin Luther King Day, and this will likely take the edge of activity in Asian markets as the week starts. That didn’t stop Wall Street setting another set of record highs following robust manufacturing and housing data along with the JOLTS Jobs Openings. That doesn’t mean the week will […]

Asia Session: Sign O’ the Times

One of Princes’ darkest songs but one of my favourites may have been running through China Vice Premier Liu He’s mind last night, as he signed the long-awaited phase-one trade deal on behalf of China, with the United States. The details, of course, are now widely disseminated and on the face of it, appear to […]

Iran Retaliates, Oil and Gold Surge

What do we know so far? Iran has launched multiple retaliatory missile strikes against coalition bases within Iraq. Quite a few missiles it would appear. The overtness of the attack has surprised me, as it is almost inviting the US to launch a “shock and awe” retaliation. There is no word on casualties or damage. […]

Saudi Arabia Attacks Pummels Markets

Oil futures leapt this morning by over 15% in a knee-jerk reaction to the attack on the Saudi Arabia  Abqaiq oil facility over the weekend that notionally, took 5% of the world’s supply offline. Brent futures spiked by 20% and WTI futures by 15% despite U.S. President Trump authorising releases from the Strategic Petroleum Reserve […]

US Dollar Marches on in Asia

The US Dollar marches on supreme today again Asia FX and G10 currencies, as both the USD Index (DXY) and US 10 Year yields hit new highs. There seems to be a global competition on as to who can be the ugliest horse in the glue factory against the USD at the moment. The USD […]

US Yields Clear Fields of Gold

The rise in U.S yields continued in Asia Monday seeing the Dollar juggernaut make further gains. I must confess that the price action over the last few days since the unexpected Tr(i)ump(h) of Mr.Trump, has left me confused. As I write, I see LME Zinc Futures up 4.5% on the day. Chugging along nicely with […]

President Elect Trump Calms Markets

Markets react positively to President-Elect Trump’s victory speech after a tumultuous day in Asia. Well what most thought could never happen, has! The black (orange) swan event that was unthinkable by most 24 hours ago with Donald Trump sweeping to power. The mornings market moves need no explaining with a panic sell-off in equities, the […]