Australian Dollar

All eyes on the RBA in its last meeting of the year today with a hawkish hold the expected outcome which gave the Aussie dollar a small boost but stocks didn’t like the result.

It’s decision day at Martin Place as the Reserve Bank of Australia meets to pull or not to pull – that is the question – the interest rate level.

Overnight action on stock markets was muted given the selloff in bonds across most sovereign markets with Treasuries falling back following hawkish comments from all sides on inflationary pressures.

The latest Japanese GDP figures were the biggest catalyst here in Asia while a boost in tech stocks is seeing Chinese shares lift higher in afternoon trade.

Friday night saw modest gains across both sides of the Atlantic as Wall Street awaits this week’s FOMC meeting and the long expected rate cut from the Fed.

Wall Street had another slow session overnight with an unclear picture of the US labour market weighing on high expectations that the Fed will cut in next week’s FOMC meeting.

Risk markets here in Asia are pivoting more on BOJ rate hike speculation amid near certainty that the Fed’s upcoming December meeting next week will result in a cut, with tonight’s US initial jobless print in the balance given the very poor ADP private numbers recently.

A slowing or deep diving US labour market (not that we would know given the lack of NFP prints) saw a lot more weakness in USD overnight as markets anticipate a full rate cut by the Fed in next week’s meeting.

DXY is down, down.

Some stability returned last night to risk markets with both Wall Street and European stocks making modest gains after scratch sessions across Asian markets yesterday.

DXY is fading away.

A little bit of volatility across some risk markets here in Asia but generally equities finished where they started with the weak overnight lead from Wall Street as traders anticipate the upcoming rate cut at the Fed’s December meeting.

The Bitcoin bust continues.

Overnight saw what could be the beginnings of a risk off mood as Wall Street was unable to get moving after the weekend, helped along by a dumping of crypto as Bitcoin made new lows.

Just when you think it’s safe to dip back into forex markets, the Japanese bond shock returns.

As a new trading month gets underway Asian equity markets are quite mixed across the region as Japanese inflation and Chinese manufacturing contraction concerns overshadow the potential invasion of Venezuela by the Trump regime.

Friday night saw Wall Street return from its short Thanksgiving break and aside from some technical difficulties trading was bullish across the major indicies, with European stock markets also lifting into the month end.

DXY held, but the uptrend looks set to be tested.

With Wall Street closed for Thanksgiving there wasn’t much of a boost for risk markets across the trading complex, with most stock indices finishing where they started and currencies holding on to their recent gains against the USD.

DXY was soft overnight with US markets closed for Turkey Day.

Asian equity markets are generally up with the lack of a lead tonight as Wall Street will be closed for thanksgiving (thanking the AI bubble that is stuffing the stock market turkey that it is).

Again the lack of bad news and the Thanksgiving cheer gave Wall Street another boost which should translate into steady returns on Asian equity markets in today’s session.

DXY is falling again.

A cracking CPI print has sent the Australian dollar soaring against USD while Asian equity markets have lifted strongly across the region.