Asian overnight: Another bearish session overnight saw Chinese and Hong Kong indices lead the decline, with the first round of tariffs on Chinese goods set to take effect on Friday. The recent decline in the yuan was arrested, with strong dollar selling pressure from Chinese banks looking like intervention from the Chinese authorities. Australian data came in mixed, with a strong retail sales reading counteracted by a lower than expected trade balance figure. Meanwhile, the Chinese Caixin servic
Chinese stocks decline and the renminbi devalued overnight, despite the PBoC reducing requirements for capital reserves. China's central bank to cut down Reserve Requirement Ratio, releasing 1.2tn Yuan in liquidity, and putting 750bn Yuan ($109bn or £83bn) in cash into the financial system. CSI300 down 3.7%.
The Australian ASX also saw sell offs moving the mining and finance centric index down 1.2%.
US employment figures out on Friday caused a flurry of Treasury sell offs, however
Oil prices at 4-year high after OPEC declines to raise supply
Bank holiday in China and Japan
Trade Talks: Abe's trade discussion with Trump is "constructive" in second round, China will only hold trade talks once Trump stops threats
Trade wars cause the European markets to dip, Brexit is also affecting sentiment
Dollar remains steady, whilst Indian rupee drops
Asian overnight: A largely bearish affair overnight saw losses through the Hang Seng and ASX 200,
Banco Santander SA skipped an option to call 1.5 billion euros of convertible notes next month, after leaving investors in the dark for weeks. The news had the bonds trade at 97 cents on the euro, after being almost at par last week. A portfolio manager at Financiere de La Cite SAS commented that credit buyers “will need some serious new issue premium to touch that name again”.
Trading in Asia was optimistic on hopes of a trade war resolution as Trump commented during a cabinet meeting on
ASX: SPI futures are indicating a 23-point drop at the open for the ASX200 this morning, effectively wiping Friday's solid gains. It comes as no surprise, really, with the lion's share of activity centring around the embattled financial sector. Bank stocks underpinned the rally on the ASX on Friday, led by CBA, in signs that the market believed the sector's recent trend lower was overdone. It may be a case of jumping the gun for traders on that one, as sentiment appears sour once more following
May's Brexit deal rejected by 230 votes making may's defeat the biggest in UK history of sitting governments. The no vote saw the GBP rise 0.05% to $1.28.
As a result of the landslide defeat May is to face vote of no confidence, the vote is expected to be held at 19:00 GMT.
Asian Stocks saw a mixed reaction following the Brexit news. Japan's Nikkei 225 fell 0.55% to 20,442.75 and the Topix index followed suit falling by 0.32% to 1,537.77 whilst the Kospi rose 0.43% to 2,106.1.
US President Trump’s administration has announced the next round of tariffs on $US200bn worth of Chinese imports. The tariffs will be at a rate of 10 per cent, increasing to 25 per cent by the end of the year. The tariffs will be implemented on the 24th of September. The Chinese have stated that they will not come to the negotiating table if this second round of tariffs were implemented. We will be awaiting their response in the coming days.
The price action quoted below is evolving,
Market sentiment: Markets put in a mixed day on Friday. The results for global equities were generally poor, but absent were any violent swings in market activity. Individual regions traded -off apparently their own idiosyncratic drivers, characteristic of the diverse web of risks plaguing investors. Chinese indices were the stand-out, climbing more than 2.5 per cent, collectively, while European shares were generally lower, and US stocks were mixed. The mood is still edgy and dour for equities
Theresa May's government holds onto power, winning a no-confidence vote in parliament last night by 325 votes to 306. The Prime Minister has now set out to reach a cross-party solution for Brexit, although this will be extremely difficult as the PM was snubbed by the leader of the opposition last night saying that she is in charge of a "zombie government".
Sterling remained steady as the currency traded around the 1.2875 mark against the dollar after, as expected, Mrs May's government won
Asian session solid on reduced trade war fears.
UK equity markets follow suit, along with a strong bidding war emerging for Sky, giving a green day for the FTSE yesterday and a positive start to the day today.
However data from China today showing a record trade surplus risks further inflaming trade tensions.
Trump is visiting the UK and has said that PM May is executing Brexit incorrectly.
Trump's comments suggest May's Brexit plan is likely to kill hopes of a US t
Today is considered ‘Super Thursday’ as a number of large UK retailers are set to release their Christmas sales data. This comes after a report from the British Retail Consortium which said that average retail sales saw 0% year on year growth
Jeremy Corbyn is expected to launch an election bid if May loses the Brexit vote, scheduled for Tuesday the 15th. Yesterday saw May suffer another defeat in the house of commons which will mean she will have just 3 days to come up with a plan B if he
The FOMC will begin its 2 day meeting today, with the markets expecting a 25 basis points interest rate increase upon its announcement on Wednesday, which would make this its fourth hike this year.
Homebuilder sentiment in the US declined in December to its lowest point in over 3 years, and could be an early indication of an economic softening.
Theresa May has announced that the "meaningful vote" for her Brexit Withdrawal Agreement is due to be held in the third week of January, a
Yesterday the US Federal Reserve raises interest rates for the 3rd time this year.
Asian stocks post negative sessions following the Fed announcement being led by the technology and energy sectors.
Major currency pairs hold steady whilst the USD basket, despite initial volatility, traded largely flat. Minor gains have been made this morning putting the dollar about a quarter of a percent up.
Oil continues to climb as investors continue to be cautiously optimistic that the Ir
Asian stock market retreats as China rally fades a day after Chinese stocks posted their biggest one-day advance in over 2 years. The Hang Seng is down 3.3% whilst the CSI 300 is currently down 3.5%.
The Dow Jones and the S&P closed lower on Monday, currently both down around 1% amidst worries over corporate earnings reports due in the coming week and rising geopolitical tensions.
The Saudi All-Share Index is down 4.4% this month, almost its worse month since October last year,
Facebook shares soared 12% after Earnings report of $2.38 per share crushed $2.19 expectation. Facebook's revenue forecast of $16.39 billion was also outdone coming it at a reported $16.91 billion
Tesla shares fell 5% in after hours trading after disappointing earnings report of $1.93 per share. This came after a 3.8% share rise in the regular session pre-results.
Microsoft also saw underwhelming results report. Despite beating earnings expectation of $1.09 by 1 cent per share, Mi
A mixed session for the Asian markets this morning, following the report of the US cancelling the trade meet with Chinese officials due to outstanding disagreements over intellectual property rules. Shanghai composite, Hang Seng Index and Nikkei 225 rose slightly in comparison to ASX 200, Shenzhen component and Shenzhen composite which saw a slight decline
US stocks fall overnight as the Dow Jones Industrial Average declined by over 300 points, the S&P 500 by 1.4% and Nasdaq Composite
Trade War: Markets were made to curb their enthusiasm overnight. Trade war realities bit again and the relief rally that had defined last week’s trade dissipated. It’s not a terrible cause for alarm yet, but it highlights how difficult to predict the impact on global trade disruption happens to be. It’s a debate that challenges orthodoxy, especially given that markets have done all they can to shrug off the potential consequences new-protectionism will have on global growth. Inefficiencies aboun
Asia share markets began the week with strong gains as investors hope for both further progress at US-China trade talks in Washington this week and more stimulus from major central banks. Trump stated in a White House news conference that he would be "honored" to remove current tariffs if an agreement can be reached, and to possibly extend the March 1st deadline for a deal.
The Shanghai Composite was up around 1.8% by the end of the morning trading session, whilst the Hang Seng and the Ni
Asian shares fall as the Trump 'tit-for-tat-tariff' goes ahead. China responds.
Ex-Japan Asia down 0.5%, Nikkei down 0.7%. China and Hong Kong markets on holiday.
Dollar eased from it's 3 week high, whilst euro remains subdued.
The World Cup has kicked off with a record 32 teams taking part. Pared with great weather so far this month, and a strong forecast going forward, pubs have the potential to thrive.
OPEC members in Vienna are to meet this week to decide on wheth
Written by Kyle Rodda - IG Australia
Market sentiment: The final session of the week is upon us, and though a Friday can throw-up any number of shock events, the week has been a relatively good one for equity market bulls. Of course, this is primarily being led by a stable equity market in the US, but that strength has filtered through global equities to generate positive activity. Naturally, the ASX200 has benefitted from this dynamic, delivering an opportunity of circa 215 points for trad
A G20 Meeting of Extreme Consequence
As far as summits for leaders of the world’s largest economies go – in other words, an already very important affair – the gathering in Argentina this coming Friday and Saturday is crucial. There are a host of global conflicts that will inevitably be addressed at this gathering, but certain aspects will preoccupy the market’s immediate focus. It will be important to recognize what will carry the weight of speculative interest. On the one hand, there are
ASX: SPI futures are indicating an 11-point drop at the open, on the back of a day that saw the ASX200 close just shy of 0.6 per cent. The local session could be characterised as being somewhat lacklustre: the lion's share of the day's losses came shortly after the open, volume was below average, and market breadth finished at 26 per cent. Most sectors finished the day in the red, but naturally it was a pullback in bank stocks that contributed greatest to the markets falls. The materials space m
Theresa May´s cabinet is set to meet today in order to try and find a solution to the Irish border crisis, the main headache for Brexit talks in the last few months.
As a result of the uncertainty regarding a Brexit deal, the GBP weakened against its major pairs, falling by almost 1% against the US dollar and 0.2%against the Euro.
The Dow Jones lost 2.32% on Monday falling by 602 points to close at 25,387.18, after Apple suffer another hit and worries over global trade continue.
Fed minutes: The week’s blockbuster event dropped over night: the release of the FOMC’s Monetary Policy Minutes. Equity markets have staged a tentative turnaround globally this week, but it has all been occurring in the shadows of what could be gleaned from last night’s Fed minutes release. When all is weighed up, the document reaffirmed the Fed’s hawkishness, revealing in-depth discussions ranging from cutting the word “accommodative” from the central bank’s language, to debating the possible n
The economic calendar is relatively light, and markets await guidance from US President Trump about his intentions regarding the next round of tariffs on China. This will likely be the headline theme this week with sentiment probably swinging on how this narrative unfolds. There isn’t a terrific lead being handed to us from Wall Street, which demonstrated its fundamental resilience at the end of last week’s trading but didn’t truly threaten new all-time highs. An easing of fears around emerging
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