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Wall Street Gains See Asia Stocks Start the Week Perky

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January 9, 2017

Wall Street Gains See Asia Stocks Start the Week Perky

Talking Points:

Wall Street was the main theme for Asian stock markets on Monday That made for general gains, especially for Australia’s ASX, although Japan was out for a holiday However, reports of North Korean readiness to test a long-range weapon weighed on the Kospi

Wall Street’s Friday pep saw off the Monday blues for Asian bourses although North Korea managed to take some of the shine off, as it so often can.

The Dow Jones Industrial Average came within a whisker of the 20,000 mark on Friday in the aftermath of official labor data out of the US, and that was the backdrop against which Asia started a new week.

Australia’s ASX benchmark rose nearly 1% in [...]

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January 9, 2017

Australian Dollar Stays Down Despite Better Construction PMI

Talking Points

The pace of deceleration in Australia’s construction sector continues to fall December’s Performance of Construction Index came in at 47 vs. 46.6 prior However, AUD/USD remained stuck in its post-US payrolls data downtrend

News of continued slowing in the pace of deceleration in the construction sector did little to advance the cause of Aussie Dollar bulls as a new trading week got under way in Asia on Monday.

The Performance of Construction Index from the Australian Industry Group came in at 47 for December. This was an improvement from November’s 46.6 but still below the crucial 50 level, which would indicate an [...]

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January 5, 2017

US Dollar Pullback May Continue on ISM, ADP Data

Talking Points:

US Dollar sellers inspired by December’s FOMC meeting minutes ISM, ADP may keep USD under fire amid “Trump trade” unwind British Pound may find an upside catalyst in upbeat UK PMI data

The US Dollar traded lower overnight, touching a two-week low against its top counterparts. The currency began to retreat earlier in the week having hit a 14-year high on the eve of 2017. The move has mirrored a pullback in US Treasury bond yields. This hints that traders are reducing exposure to the so-called “Trump trade”, which envisions a steep Fed rate hike path courtesy of an on-coming inflationary fiscal policy pivot.

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January 5, 2017

Australian Dollar Ticks Up On More China PMI Gains

Talking Points:

China’s private service sector has joined manufacturing in recording strong December gains The world’s number two economy is heading into an uncertain year in pretty good shape AUD/USD had already put in some gains on Wednesday, and didn’t push up much higher

The Australian Dollar gained modestly on its US cousin Thursday after the release of data showing that China’s private service sector picked up steam in December.

The Caixin China services Purchasing Managers’ Index rose to 54.4, from 52.4 in November, to print a 17-month high. The composite PMI melds both manufacturing and service sector data. It strengthened to a 45-month peak of [...]

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