Bloomberg Commodity Index Near Breakout as Dollar Weakens
Bloomberg Commodity Index Commodities put in a strong session. The Bloomberg Commodity Index added 0.9% to 104.7 and is testing overhead resistance. One high conviction view we have had for some time is that a weaker dollar will drive the BCOM index higher, and resistance is being tested now at 105 (see below). Oil prices […]
Gold Hits Record High as Dollar Strengthens – Correlation Breakdown Raises Risks
Gold made a new record high at US$2,734. The Dollar Index rose to 104 and has now rallied 4% off last month’s lows at 100. Whilst the technical setup still skews to the bearish side on a near-term basis, further upside could ensue over coming weeks if the DXY breaks above 104 as rate differentials […]
China Stimulus Sparks Global Market Rally | Commodities, Bonds & ASX Outlook
Much has happened over the course of just the last week with a number of key standout events shaping the course of where the markets are likely headed into yearend. Firstly, the solid labour market report which saw the US economy add 250,000 jobs well above consensus expectations has recalibrated lower the number of rate cuts priced […]
US Stocks Edge Higher on Fed Dovish Tilt | Gold Hits Record, ASX Lags
US equity benchmarks posted modest advances on Monday as traders mulled economic data and commentary from Fed policymakers. The commentary tilted dovish, with Chicago Fed President Austan Goolsbee saying that the focus should shift to the labour market, which “likely means many more rate cuts over the next year.” The boss at the Minneapolis Fed, Neel Kashkari, […]
Fed Kicks Off Rate-Cutting Cycle with 50bps Cut | Markets React, ASX in Focus
The Fed started the rate-cutting cycle with “a bang” on Wednesday, reducing the Fed Funds benchmark by 50 basis points. Chair Jerome Powell cited a “greater confidence” that inflation was moving toward the central bank’s 2% target and a determination to keep the labour market healthy and achieve a soft landing. Clearly, Mr Powell and the Fed want […]
Golden Bull
Key themes and stocks discussed today: The major US benchmarks closed mixed on Monday ahead of the key FOMC decision tomorrow. A rate cut is all but a certainty; the only question is by how much. Fed funds futures are pricing in a 59% chance for a 50 bp cut. The US dollar continued to weaken into […]
Today’s Top Stocks – 10 Sept 24
Notable Stocks: ASX Movers, US Tech Updates & Global Market Highlights Notable Stocks Australia Market: Stockland, Wisetech, CSL, Westpac, Domino’s Pizza, Seven Group, Qantas & ARB Corp. US Market: Microsoft, Alphabet, Apple, Palantir Technologies, JetBlue Airways, Arm Holdings & Cannabis stocks. Other Global Markets: Fresnillo – Mexico, Pernod Ricard – France, Rightmove – UK, Burberry […]
Australian Shares Tumble as US Data Sparks Fears – Join Our Macro Webinar
Australian shares endured their sharpest drop since the bloodbath in early August after weak US manufacturing data renewed global economic fears. Want to know what our take is? Tune in to our latest Macro webinar to hear our CIO Angus Geddes shared his insights and predictions for the market ahead. Members WebCASTs: Our Members […]
ASX200 Suffers Sharpest Drop Since August as Global Growth Fears Resurface
Australian shares endured their sharpest drop since the risk-off move in early August, with the ASX200 falling 1.88% to 7950. Declines were broad-based across sectors and stocks as global growth fears resurfaced. This followed weaker-than-expected US manufacturing data and sharply lower oil prices. Local miners and energy stocks came under pressure. Local GDP data confirmed that many […]
ASX Earnings Season Wrap: Winners & Losers from Reporting Season
With the ASX earnings season now drawing to a close, it’s the perfect moment to reflect on the key takeaways from this reporting period. This season has presented a mixed bag of results: some companies have exceeded expectations and emerged as clear winners, while others have underperformed. In this overview, we’ll examine some of the […]
Today’s Top Stocks – 30 Aug 24
1. Australia Market The ASX 200 slid -0.33% on Thursday as traders digested another wave of corporate reports, with significantly more misses than hits. The benchmark opened underwater following a weak lead from Wall Street and Nvidia’s sharp fall in after-hours trading. The index fell deeper in early trading but enjoyed some buy-the-dip support in the afternoon […]
Gold Surges, Commodities Break Higher as Recession Risks Loom
Commodities continued to be bought because of the weaker dollar. Crude prices lifted 3%, with WTI and Brent closing at $77 and $81.2. The Bloomberg Commodity index added 0.8% to 97 and broke out above near-term resistance, which favours further upside extension (see below). Gold held near the record highs at $2545 while silver added […]
