The Asian cash markets just could not wait to open this morning after the huge Payrolls number on Friday. Admittedly, it took a little time and a better than expected Trade Surplus number (52.31 v’s and estimated 47.6) for the Shanghai market to join the excitement, but they eventually did to close +0.9% firmer. The […]

QUESTION: You’ve just mentioned there remains a chance for gold to perform a slingshot move downward and then up in January. Does it still appear the Dow will slingshot (make a new low) also even though it has recently broken to new highs? S ANSWER: We achieved the slingshot in the S&P and the NASDAQ, and I have previously […]

With the exception of the Hang Seng (+1.4%) it was a relatively quiet day in Asia having digested the BOE move and anticipation of US NFP’s data and ahead of the weekend. Late in US trading futures have responded to the global stock rally (as a result of the US numbers) and are currently trading […]

A bounce late in the US saw overnight gains for the Nikkei (1%+) with the Hang Seng and Shanghai. All pretty much well behaved for thin summer trading and it was we were looking forward to both the Bank of England and tomorrow Non-Farms report. Many dealers pointed to the turnaround for the price of oil but […]

  Japan remains unloved opening down 1% and then drifting even lower as exporters led the way. The JPY has seen the safety bid for the majority of the week whilst the Nikkei has lost around 4% so far. Finally we saw a little support return for JGB’s since the news but then they have seen yields rising (or I […]

$278bn and the market is still disappointed! Despite the package provided by the Japanese government today late futures trading has followed the weaker cash market and extended losses by another 2%. Confidence is slightly dented as the market was hoping we would see the helicopter approach and that is why the market continued to sink […]

Other than individual bank stocks, Friday’s EBA report had little overall effect on core markets as we heard nothing that we were not already familiar with. The Nikkei opened around 1% lower and then spent the rest of the day trying to recoup opening losses, which was pretty similar to the Hang Seng. Shanghai, on […]

When is a stimulus not a stimulus? Talk in Japan that the eagerly awaited stimulus may not be enough (combined with some nervous profit-taking) produced a 1.4% decline in the Nikkei today. At the same time, the JPY saw the flight to quality and rallied over 1%; last seen trading mid 104. The contrast to […]

  Even though we have two central banks announcing rate decision this week, in addition to Tuesday being one of the busiest corporate reporting days of the year and hearing from the G20 at the weekend, this week looks to be one of the quietest! Asia had no reaction to anything emerging from the G20 […]

We saw a bit of a wobble today in Asian cash markets after BOJ governor Kuroda dismissed the idea of helicopter money and following a weak US session resulting in 1% declines for the Nikkei, Shanghai, and a small loss (-0.2%) in the Hang Seng. Oil didn’t help sentiment having lost 2% yesterday and no sign of recovery today as we head […]