Economic Updates

Economic Updates

The Week Ahead- RBA, FOMC minutes and NFP headline

The FX market enters the new week after the USD has dominated for the last fortnight, reversing it’s early June weakness on the back of a Fed that has pushed back hard against markets pricing in a rate pivot, jawboning odds of a hike at their July meeting as almost now fully priced in. This week’s US data will play a big part in whether markets...

July 3, 2023
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US Markets rally strongly after strong data and big tech rebound

US indices bounced back strongly in Tuesday's session as the yesterdays losers in big tech became the winners as strong data encouraged traders to buy the dip. MSFT, AMZN, META and TSLA all posted strong sessions after Mondays sell-off, helping the Nasdaq to outperform, finishing up over 200 points or +1.65% Risk sentiment was spurred by str...

June 28, 2023
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US Markets finish mostly down in quiet session as Big Tech drags down the Nasdaq

US Indices were mixed to start the week in Monday’s session in a low volatility session, Big Tech gave back some of their recent gains with a major pullback in Tesla (-6% on a Goldman Sachs downgrade) and Meta, Amazon and Microsoft all falling 2-3% saw the Nasdaq down over 1% to be the worst performing index. The Russell 200 was the only m...

June 27, 2023
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The Week Ahead – More Fed speak, Inflation and the Charts to Watch, AUD, USD, JPY, BTC

Despite a pull back last week, Global markets are coming into the last week of June and marking the half year point on an impressive run, with the Nasdaq remaining up more than 28% and the S&P500 +13% throughout the first half of the year. The week ahead is fairly light on tier one economic releases, but there will be some flash points that wil...

June 26, 2023
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Asia looking to open in the red on Wall St lead, Bitcoin bounces, Gold and Silver tumble

US indices drifted lower in Tuesday’s session in choppy action in what has been framed as preliminary month/quarter end selling in the absence of any US tier one economic releases. The Nasdaq was the “least worst” index (-0.16%) held up by another surge in momentum darlings Tesla (TSLA +5.34%) and Nvidia (NVDA +2.61%) which both surged on tec...

June 21, 2023
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The Week ahead – BoE and SNB set to hike, RBA minutes and Jerome’s jawboning.

More Central bank action is set to dominate the news flow this week with the FOMC and ECB decisions done, coming up we have the Bank of England and the Swiss National bank with monetary policy meetings, sprinkled with a slew of Fed speakers which should keep markets interesting. US – Dollar Index holding critical support. US markets will ge...

June 19, 2023
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Asian stocks looking to open in the green after a volatile post-FOMC session on Wall St

US markets finished mixed in a chaotic session as the long-awaited June FOMC monetary policy meeting concluded. As expected, the Fed held rates steady after 10 straight hikes, the tone of the accompanying statement was quite hawkish, signalling higher for longer in rates and the possibility of more hikes to come. More mixed signals were given by Ch...

June 15, 2023
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Wall St rallies on softer CPI ahead of FOMC, USD down, Yields up

Another day, another stock rally on Wall St in Tuesday’s session with a softer than expected headline CPI print seeing US rate hike odds completely evaporate before today’s pivotal FOMC meeting. Small caps led the way with the Russell 2000 rising 1.23%, and another record for TSLA, surging 41% in the last 13 green trading sessions. U...

June 14, 2023
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Asian markets looking to open strongly as big tech pushes US markets higher ahead of CPI

US markets rallied strongly again to start the week with lower yields, on the back of hopes of a Fed pause this week, saw big tech surge and the Nasdaq (+1.53%) lead major indices to print fresh YTD highs. Another day, another up day for Tesla (TSLA) with its stock price rising for the 12th straight day - the longest winning streak in the co...

June 13, 2023
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Wall St rally sees S&P 500 enters technical bull market – VIX dumps, Gold pumps

A tech led rally saw the S&P 500 index enter a technical bull market after rallying 20% from the October 2022 lows, a big miss on unemployment claims which saw it hit 19-month highs added to the “bad news is good news” narrative, sending yields lower, chances of a Fed rate hike next week tumbling and risk assets soaring. Big mover in...

June 9, 2023
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US markets lower as rally takes a breather on disappointing data, Apple underwhelms

US stock indices were broadly lower in Monday’s session after an impressive start to June took a breather on a quiet news day, with the only tier one release being ISM services PMI which had a surprise miss coming in at 50.3 vs an expected 52.6 indicating the US economy is struggling to remain in expansion (a reading above 50). Apple (AAPL) he...

June 6, 2023
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The trading week ahead – Central banks back in action RBA, BoC

Debt ceiling issues finally being put to rest last week saw a broad rally in US and global, with a big move up on Friday seeing the S&P 500 have its best week since March and hit it’s highest level since August last year. With Asian and US futures pointing to positive start to the week the risk on narrative seems to be continuing and w...

June 5, 2023
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US stocks rise to start the new month on debt ceiling optimism, data and Fed speak – NFP ahead

Major US indices broadly rallied in Thursdays session as the US debt ceiling can got kicked another two years down the road after a deal was passed through Congress, US data and Fed speak also supported a narrative shift in expectations of how hawkish the Fed is going to be going forward. The Nasdaq again led gains, (+165 points / 1.28%) , The N...

June 2, 2023
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Asian markets looking to open lower after mixed US session

Major US indices finished mixed in the US Tuesday session with AI-mania propping up the Nasdaq to a green finish while continuing debt ceiling jitters kept risk appetite muted for the broader market. Continuing Ai mania saw Nvidia (NVDA) briefly crossed into the $1 trillion market cap club before pulling back later in the session, still up 3% fo...

May 31, 2023
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The Week ahead – Debt ceiling deal, NFP and Aussie CPI – charts to watch

News over the weekend of a tentative debt ceiling deal had been achieved should see investors in the week ahead return to their usual programming of trying to predict the next move from the Federal Reserve, which this week’s jobs data will be a critical component. Late Saturday, the White House and Republican negotiators announced a debt ceili...

May 29, 2023
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