Australian Shares

Charts from TME.

A blowout in US unemployment claims, a collapse in cryptocurrencies and more unease over the AI uber-bubble added to rise in volatility across risk markets overnight as Wall Street fell back again, taking other markets with it.

NDX is threatening to make a mess as recent range breaks down.

Another uneasy night on risk markets with concerns mounting over the Iranian situation as talks collapse while Wall Street took another tumble on tech stock volatility.

Asian share markets are in mixed mood after the poor showing on Wall Street overnight although some risk taking is occuring across other markets with Yen weakening while the Kiwi lifted despite a poor unemployment print.

Once mighty software is being devoured by AI.

Overnight saw a big swing in volatility all based on US markets as AI concerns on earnings sent half of the NASDAQ down while a rally in precious metals gave undollars a lift against USD across the board.

Asian share markets are bouncing back strongly on the back of a solid US manufacturing PMI print overnight and a possible resolution to the latest Epstein distraction as Iran deliberates on shutting down its nuclear capabilities.

Chart from TME.

Overnight saw the release of a very strong US ISM manufacturing PMI print which gave industrial stocks on Wall Street a big lift and will likely spread to a risk on mood here in Asia on the open.

Its a sea of red across Asian share markets as margin calls from the precious metal collapse cause equities to fall over although there was a fair amount of regional data that added to the volatility, including poor Chinese PMI prints and weird moves on Korean markets.

Friday night saw a huge reversal in precious metals fortunes perhaps triggered by the Trump regime’s nomination of Kevin Warsh as the next Fed Governor or the technical overbought status of both gold and silver.

Overnight saw Wall Street take a hit on tech stock earnings with Apple the next cab off the rank this evening.

Asian share markets are generally higher as all risk markets look on with hesitation around the seemingly inevitable Iran/US war as both oil and gold prices blowout.

Charts from TME.

Nothing much to move markets overnight except a looming war in Iran and a pause in the continued structural decline of the USD with both the Fed and Bank of Canada holding interest rates with ECB officials broadcasting a similar sentiment.

Asian share markets are generally higher but all the activity has been localised here on a very hot CPI print that has all but guaranteed an interest rate rise at the RBA February meeting.

US consumer confidence dropped to decade lows (hard to do your shopping when ICE agents are dragging you out of your car) which was the real catalyst for another huge selloff in USD overnight as the DXY dollar index crashed to a four year low.

It’s green across Asian share markets as local stocks also joined in the fun despite a much higher Australian dollar as the USD remains under enormous pressure against all major undollars as El Trumpo shoots off about South Korea.

Its all about the structural “off-America” risk trade with the US dollar index now down to a four month low with the Australian dollar making another new high as it surged through the 69 cent level at the start of the trading week.

Asian share markets pivoted around inflation prints and other macro news as the chaos from Davos dies down although the TACO trade remains in play.

Wall Street continued the TACO trade overnight led by tech stocks while a series of high inflation data in the US failed to get the USD moving higher with all undollars continuing the structural “off-America” risk trade with the Australian dollar making another new high.

Asian share markets are generally higher across the region with only Chinese shares taking a breather as markets react to YATT (Yet Another Taco Trade) from Trump as all is forgiven over Greenland at Davos.