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MacroBusiness Access Subscriber Only Content at 8:30 am on August 5, 2021 | 0 comments A strange one-two punch overnight on the back of US economic prints, namely a disappointing private jobs data print and then a booming service PMI, all wrapped in a nice ball by the latest round of Fed hawkish comments sending Wall Street lower and currency volatility through the roof. Never a dull moment! Treasury yields also roundtripped but ended up where they started with the 10 year still at multi month ...

MacroBusiness Access Subscriber Only Content at 9:00 am on August 4, 2021 | 9 comments Equities bounced back on Wall Street as corporate earnings overshadowed everything else, although stronger US factory orders and more Fed talk supporting a gradual taper helped as well. Treasury yields however spell out the better picture and remain down at multi month lows while currency markets saw a big of USD strength eke back in. Commodities were again mixed to the downside, with oil slipping further aft...

MacroBusiness Access Subscriber Only Content at 9:00 am on August 3, 2021 | 3 comments A big retraction in Treasury yields overnight on the back of a disappointing US ISM Manufacturing print saw Wall Street give pause while commodities sold off sharply.  Currency markets were little changed again, with WTI and Brent crude falling more than 3% while gold prices remained just above the $1800USD per ounce level. Bitcoin has been able to only just hold on to its breakout gains after pushing throug...

MacroBusiness Access Subscriber Only Content See the latest Australian dollar analysis here: Key GDP and unemployment data in the US overnight put paid to the idea that the Fed  may still be hesitant to normalise interest rates with the USD falling back against all the majors while Wall Street remained elevated.  Commodities all rose in response to the weak USD with gold surging strongly above the key $1800USD per ounce level while the Australian dollar put in a new two week high. Bitcoin is ...

MacroBusiness Access Subscriber Only Content at 8:30 am on July 29, 2021 | 2 comments The latest FOMC meeting did not translate into a lot of volatility overnight with Wall Street largely unchanged while Treasury yields eventually clawed back some intrasession gains due to the lack of an outright tapering signal. Currency world saw more volatility with Euro ranging through nearly 80 pips while the Aussie had similar volatility but eventually everything settled back to the start of session setti...

MacroBusiness Access Subscriber Only Content at 8:30 am on July 27, 2021 | 1 comment Strong corporate earnings kept Wall Street elevated overnight, but only just with the selloff in Chinese tech issues overshadowing the new record highs as Treasury yields bounced a little after some strong auction results. USD sold off mainly against Euro while commodities lifted with oil up 1%, copper up over 4% while gold fell back below the key $1800USD per ounce level. Bitcoin put in a stonking rally to sta...

MacroBusiness Access Subscriber Only Content See the latest Australian dollar analysis here: Nobody can stop the music as Wall Street surged once more on Friday night to a new record high with the latest corporate earnings a strong tailwind.  While stocks rose everywhere, currencies and bond markets were largely unchanged with commodities also mixed as oil and copper rose slightly while gold and iron ore fell back.  The good news should continue here locally in Asia with stock futures pointin...

MacroBusiness Access Subscriber Only Content See the latest Australian dollar analysis here: Sentiment continues to swell positive with another solid night across all equity markets with tech stocks leading the way this time due to some solid earnings results on Wall Street. Bond yields slipped on a very dovish ECB meeting with commodity prices continuing their own bounceback, oil up 2% alongside copper while gold got back above the $1800USD per ounce level again.  The good news should continu...

MacroBusiness Access Subscriber Only Content at 9:00 am on July 22, 2021 | 1 comment The big fill in the recent dip in equity markets continued overnight with European shares outshining Wall Street, although the latter is almost back to where it started. Oil played catch up with a 4% rise in Brent futures while gold fell back despite a rise in undollar assets as Euro and the Australian dollar bounced back. Treasury yields showed some relief with a slight rise in the absence of any economic news...

MacroBusiness Access Subscriber Only Content See the latest Australian dollar analysis here: Things are not looking good in risk-taking land with the COVID-19 delta variant causing a lot of concerns that are spilling over into equity markets which fell sharply overnight. Coupled with the snap OPEC supply surge that has seen oil fall over 7%, commodity markets and commodity currencies are selling off while Treasury yields are down to their February lows just below the 1.2% level in a sign that s...