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Top content from across the community, hand-picked by us.
Up, down, turnaround - APAC brief 12 Mar
MaxIG posted a blog entry in Market News,
ASX to hit the ground running: It was topsy-turvy yesterday, as far as the ASX’s behaviour went within the context of the global rally in equities. Unlike during stages of last week, the ASX200 was a thin-cut of red in an otherwise sea of green, when looking at the global equity index map. Australian stocks will join the party this morning, and according to the SPI Futures contract, will bust out of the gate at today’s open with a 34-point rally. Inducing from European and North American trade what we might see today: materials stocks may follow their international counterparts, energy stocks may track a lift in oil, and Australia’s growth stocks in the biotechnology industry should follow US tech’s run higher.
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MaxIG,BoE Tightens Bank Liquidity Controls - EMEA Brief 11 March
Guest JoeIG posted a blog entry in Market News,
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Guest,Week US jobs data - APAC brief 11 Mar
MaxIG posted a blog entry in Market News,
US stocks fall, but losses were limited: That would be bad news for the US and global economy. Despite this gloomy picture painted by NFPs, and an initial knee-**** reaction, traders sought to see through the data. It was a bad day, ending a bad week, for risk assets on Friday – that’s no question. But given that the weak US jobs figures punctuated a series of weak global economic data, which solidified the fear the global economy is sharply slowing, the reaction in markets was fairly contained. Global stocks certainly put in their worst weekly performance for the year. However, Wall Street’s daily losses were contained to a relatively modest 0.21 per cent, if judged by the S&P500’s performance on Friday.
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MaxIG,Huawei Sues The U.S. Government - EMEA Brief 07 March
Guest JoeIG posted a blog entry in Market News,
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Guest,Australia's slowdown - APAC brief 7 March
MaxIG posted a blog entry in Market News,
RBA’s dissolving logic: As it stands, the picture the GDP print painted of the Australian economy blows the RBA’s base case out of the water. Recently, the RBA had become candid in its assessment of the (let’s say) “crosswinds” in the domestic economy. So cognizant of the risks, they’d adopted a “neutral” stance to monetary policy moving forward into 2019. But still, their optimism remained: growth would remain strong enough to lead to an even tighter labour market, which would eventually feed into a pick-up in wages growth, and subsequently the inflation and consumption growth long-missing in the Australian economy. It was this view that fundamentally created the bedrock for the RBA’s policy bias and supported their hope for improved local economic conditions.
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MaxIG,Aon Plc considers $24 billion bid for rival Willis Tower Watson Plc - EMEA Brief 6 Mar
Guest IG-Andi posted a blog entry in Market News,
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Guest,Trump states he will cooperate with House Judiciary Committee Investigation - EMEA Brief 05 Mar
MichaelaIG posted a blog entry in Market News,
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MichaelaIG,American stocks fall - APAC brief 5 March
MaxIG posted a blog entry in Market News,
Bulls fail to break technical resistance: It’s the considerable lack of upside momentum, coupled with the breadth of the sell-off, that is noteworthy. After all, again, the S&P500 is only down 0.6 per cent on the day. The RSI is pointing its head downwards, though, clearly breaking with its recent upward trend. Intraday breadth is very poor: only around 20 per cent of stocks are higher for the session, and every sector is presently in the red. Right now, the triple top at 2815 – the formidable level that saw the bulls bail-out on as many occasions in Q4 2018 – has proven its might. The discourse might once again shift from here to where the next low could be registered.
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MaxIG,Vix Offers on Platform
Guest Dannnnyhallllll posted a question in IG Trading Support - Dealing Questions,
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JamesIG,Economic stagnation; ECB and other central banks; range trading - DailyFX Key Themes
JohnDFX posted a blog entry in Market News,
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JamesIG,US-China Trade Deal 'moving along nicely' - EMEA Brief 04 Mar
GeorgeIG posted a blog entry in Market News,
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GeorgeIG,The latest from Trump - APAC brief 4 Mar
MaxIG posted a blog entry in Market News,
Improved perceptions towards fundamentals: An answer to that one is very difficult to grasp just looking at the price-action. To rattle-off one of the stalest of undergraduate clichés: perception is reality. In the case of traders, the rosier perception of economic fundamentals has inspired the emergence of a virtuous cycle in financial market bullishness. Very often, a break from fundamentals, and a movement towards some imagined state of affairs, gives birth to a sufficient enough divergence between sentiment and hard-data that a relatively small catalyst can spark a jolting correction in market-pricing. That may well be the situation market participants are operating. A blithe optimism or not, some key markets are approaching now key inflection points.
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MaxIG,Planned interview with Jim Rogers
JamesIG posted a topic in General Trading Strategy Discussion,
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JamesIG,Chinese factory activity shrinks again- EMEA Brief 01 Mar 2019
Guest KatherineIG posted a blog entry in Market News,
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Guest,Chinese bull run - APAC brief 1 March
MaxIG posted a blog entry in Market News,
Chinese (and global) growth: First, the darker side of (the all too crude) binary: a view on what’s happening in China and the world ex-American economy. The Asian session yesterday was preoccupied first by political theatrics, then macroeconomic information. The Cohen testimony gripped attention, however proved more a distraction as far as traders’ were concerned. The falling apart of the Trump-Kim talks in Hanoi disturbed markets, mostly in North-East Asian markets, such as the KOSPI, before the conclusion was drawn that a grand-peace pact between the US and North Korea was an absurd fantasy to begin with. The true focus was on China’s PMI numbers during our Asian trade – and how, once more, very disappointing they were.
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MaxIG,Post in Indices
Caseynotes posted a post in a topic,
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JamesIG,Short summit with no agreement- EMEA Brief 28 Feb
Guest KatherineIG posted a blog entry in Market News,
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Guest,Global geopolitics: APAC brief 28 Feb
MaxIG posted a blog entry in Market News,
In Washington: The most salacious news that had traders’ interest excited last night took place in the halls of US Congress. No, not the testimony of US Fed Chair Jerome Powell – though his words are of far greater import to markets. It was instead the unfolding Michael Cohen testimony, at which the disgraced lawyer has cast a series of accusations and aspersions toward US President Donald Trump, on issues ranging from Russian ties, electoral fraud and hush payments. On the face of what’s been said, the revelations are potentially monumental. However, although demonstrating signs of nervousness in the lead up to the testimony, as it unfolded, financial markets have seemingly shrugged off the possible implications of that event.
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MaxIG,'Spend It Well'; M&S and Ocado Confirm £750m Deal - EMEA Brief 27 Feb
GeorgeIG posted a blog entry in Market News,
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GeorgeIG,Wall Street trade - APAC brief 27 Feb
MaxIG posted a blog entry in Market News,
US traders search for leads: Momentum has certainly slowed across US equity indices, adding to the sense that the market has lost upside conviction. Neither the MACD nor the RSI are flashing conspicuous sell signals, but the former is conveying a gradual downside turn, while the latter is flirting with oversold territory. A lack of high impact news, or any general surprises, has deprived US equity markets’ of fuel to further power its rally. Rosy trade-war headlines no longer appear enough to embolden bulls and invite buyers into this market. And the Fed’s back-down to market-pressure over monetary policy settings implies that fear about tightening financial conditions has more-or-less been parked to one side for the foreseeable future.
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MaxIG,Trade war end and recession; central bank testimony; another Brexit milestone - DailyFX Key Themes
JohnDFX posted a blog entry in Market News,
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JamesIG,Barrick Gold Announces Plan to Acquire Newmont Mining - EMEA Brief 26 Feb
Guest JoeIG posted a blog entry in Market News,
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Guest,Prolonged trade truce - APAC bried 26 Feb
MaxIG posted a blog entry in Market News,
AUD, RBA and ACGBs: The AUD/USD, and Australian assets, constitute many of the favoured proxies for trading trade-war headlines, and the news’ impact on price action has illustrated nicely the mixed opinion in markets relating to the developments. Yields on short-term bonds are a little higher, but interest rate markets haven't shifted much, while the yield on 10 Year ACGBs has actually fallen to 2.08 per cent, showing that traders are reluctant to price in markedly improved global growth conditions just on the basis of the latest trade war story. As the speculative tool of choice amongst traders to play-with trade war headlines, there has been a noteworthy rally in the AUD, over the last 24 hours, towards resistance at 0.7200.
ASX200: The ASX benefitted somewhat from positivity stemming from the subsequent climb in commodities prices, along with yesterday’s remarkable ~6 per cent rally in Chinese equities. Breadth across the ASX200 was so-so, with only 56 per cent of stocks clocking gains yesterday.
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MaxIG,Trade War Progress Ripples Through Markets - EMEA Brief 25 Feb
Guest IGAaronC posted a blog entry in Market News,
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Guest,Stocks finish week on solid footing: APAC brief 25 Feb
MaxIG posted a blog entry in Market News,
Risk appetite piqued: This is all according to US President Trump, so the gut says it be taken with a pinch of salt. Equity traders heard enough, however, driving the rally in global stocks. Chinese equities led the gains on both the daily and weekly charts: the CSI300 was up 2.25 per cent on Friday and 5.43 per cent for the week. Growth currencies also rallied into the week’s close. The AUD has climbed back to 0.7129, the NZD is fetching 0.6844, and the CAD (supported by higher oil prices) has broken above 0.7600 once more. Most promisingly of all is price action in commodities. The Bloomberg Commodity Index is at a YTD high, led by a break higher in copper prices.
Venezuela and oil: In commodity-land, arguably as it always is, oil is hogging the conversation. News in the last fortnight that the Saudis intend to deepen production cuts has formed the fundamental basis of oil’s rally. The short-term factors though pertain to the humanitarian crisis unfolding in Venezuela.
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