Commodity markets are leading some recent weakness in global asset markets. Oil and iron ore are sitting near key supports and how they perform around these levels may be important for near term direction in global markets and commodity currencies. Market sentiment remains mixed and asset prices are not clearly out of line with the […]
The RBA is likely to await clearer evidence that banks are tightening lending conditions for mortgage lending before cutting rates. Rather than cutting in November, it will probably make this link clearer. Weaker Chinese industrial data and soft metals markets should keep the AUD recovery in check, but domestic indicators are providing support and the […]
The Chinese data supported some rotation out of commodity assets towards consumer and service sector assets, but overall risk appetite remained stable as growth momentum in China appeared to stabilise and global interest rate trends are lower over the last month. A very strong USA housing market index and Fed speakers sticking to the party […]
The markets are consolidating recent moves awaiting the key economic reports from China in particular today. The ECB is toning down expectations for any hints on policy direction at its meeting later this week. Mester at the Fed and Forbes at the BoE keep rate hike expectations alive, but market views are mixed. Rate cut […]
Some better US data on the important employment and inflation fronts and some more supportive Fed comments have helped stabilize the USD. With mostly housing data out next week, the strong part of the US economy, it is worth looking to sell other potential funding currencies in a risk positive environment. EUR looks heavy after […]
The accelerated broad fall in the USD cannot be ignored and is consistent with recent moderation in USA activity. It may be a bit oversold near term, but the focus should be to sell rallies for the time being. The Australian employment report was ho-hum and the RBA may see November as an opportune time […]