Australian Shares

The new roaring twenties are US exceptionalism.

The Market Ear with stock internals. Oil at massive levels (again) Oil is trading around the massive $72 area again.

Last night was relatively calm for global risk markets although oil prices continued to fall from their weekend gap as Wall Street braces for a new round of earnings reports and the economic calendar begins to get busier in the latter half of the week.

A very mixed start to the trading week with most Asian stock markets failing to advance while a much weaker Yen is supporting Japanese equities as the majority party lost their majority on the weekend.

The Market Ear with the latest equity internals.

Friday night saw the release of the latest US consumer sentiment figures that ended up pushing risk sentiment lower as the USD was bid higher against everything but gold while bonds and stocks sold off.

The Market Ear on stocks.

Overnight saw the release of the latest US weekly initial jobless claims which came in lower than expected, with USD selling off slightly against most of the other major currencies.

Asian stock markets are still putting in very mixed sessions, as Wall Street fell back overnight while the economic calendar finally heats up tonight although all ears and algos will likely be on more ECB and Fed speeches than anything else.

The Market Ear with charts.

Overnight saw the Canadian central bank cut rates by 50bps, helping the USD higher as the release of the latest Biege Book and US home sales data continued King Dollar’s uptrend against all the other major currencies.

Asian stock markets are still putting in very mixed sessions, which is not surprising given the continuining poor lead from Wall Street overnight and also the lack of economic catalysts for risk markets to go on.

The Market Ear with some charts.

Another listless night on risk markets with a no significant economic data to impact events with both European stocks and Wall Street largely unchanged while the USD continued to strengthen.

Asian stock markets are again very mixed with a poor lead from Wall Street overnight not helping, neither is the impact of the latest PBOC rate cut with very little for risk markets to go on.

A night without significant economic data or other macro cataylsts has seen risk markets pull back across the complex, with only tech stocks leading the NASDAQ slightly higher while the USD continued its surge against the undollars.

Asian stock markets were somewhat mixed as the new trading week got underway as the PBOC joined the rate cut brigade with an expected cut to prime lending rates today while the RBA seemed to have reiterated its stubborn stance going into the end of the calendar year.

Goldman on Samta.

Lots of action on Asian risk markets although stocks remain somewhat mixed after the release of Japanese inflation figures and the start of PBOC stock buybacks.

The long expected cut from the ECB transpire overnight without much fuss, giving European shares a leg up but Wall Street struggled to rebound as the latest retail sales numbers outperformed.

Asian stock markets are somewhat mixed after a similarly lacklustre performance on Wall Street and in European stocks overnight as currency traders position for tonight’s ECB meeting.

Wall Street tried to rebound overnight in the absence of any catalysts or economic prints but the stronger USD weighed on all risk markets despite a new low for Euro as European stocks continued to fall.

Asian stock markets are all in the red after the retracement on Wall Street overnight although Chinese are relatively flat as they continue to absorb the PBOC stance on stimulus.

Two points: Stocks are overboughterer.

Optimism dissipated quickly on risk markets overnight with Wall Street pulling back sharply after a series of record highs, on the back of some chipmaker results with tech stocks dragging the whole edifice down.