Blogs

Analysts at Australia's Macquarie Bank say that if Australia can avoid a second wave of COVID-19 and shutdowns, the worst of the pandemic-induced share market contraction if over

The Australian Bureau of Statistics is working hard to provide more timely economic data indications.  This the preliminary data for retail activity in April. ABS warn the result is subject to revision.  

This snippet via Danske on their outlook for the US Canadain dollar cross – short USD/CAD looks like an attractive recovery bet, the abnk arguing amongst other reasons that its currently overvalued on fundamentals according to their proprietary model

China will list domestic companies in London, move away from US listings. – The escalation of US-China tensions have seen moves to delist Chinese companies in the US and also limit new listings

Westpac Leading Index does not tend to have much of an immediate impact on the AUD. Nevertheless, a useful indicator for the economy ahead. The March reading was the weakest since the GFC, this latest April reading is worse 

Scanning some of the bank notes this from Danske, with a range expectation for euro. In summary: – US-China tensions and talk of negative rates (or not) may be key FX drivers near term (bolding mine)

GBP/USD falls from around 1.2260 levels to 1.2240 currently The pound is easing slightly after the data – not by a whole lot – but if anything else, expect more data such as this to continue to give traders more of a suggestion that the BOE may eventually start to really look at negative rates […]

Major indices move lower on the day after Moderna results questioned by the scientific community The US stocks were trading near session highs heading into the last hour of trading

Have a look at this chart Wal-Mart crushed earnings today and jumped 3.2% at the open but it's been a grind lower since and that's left the chart failing at the April high and painting an ugly candle on the chart, on huge volume.

Back below swing highs after failed break The AUDUSD moved above a swing area in the 0.6560-693 area and the move triggered stops. The price reached up to 0.65843, and then the commentary about Moderna surfaced and the break higher was erased.