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Markets Today: Hospital

Markets Today: Hospital

4 October 2021

US equities finish last week strongly with positive trial results from Merck's Covid treatment drug helping sentiment.

Markets Today: Hospital
为什么使用远期合约?-进口商篇

为什么使用远期合约?-进口商篇

20 April 2021

远期合约能够帮助企业控制成本且锁定企业的预算外汇汇率,本文通过例举三个被普遍使用的远期合约策略来阐述进口商们是如何通过这些策略来管理企业的外汇风险

为什么使用远期合约?-进口商篇
AMW: Inflation?

AMW: Inflation?

20 April 2021

The signals to watch to see if central banks are right or wrong.

AMW: Inflation?
Markets Today: A quiet day

Markets Today: A quiet day

10 December 2019

Markets have been calm overnight, in wait and see mode ahead of a series of more important events this week.

Markets Today: A quiet day
Markets Today: What do I know?

Markets Today: What do I know?

24 October 2018

It has been another bad day at the office for equity markets, beginning in the Asian session and spreading across Europe and the US.

Markets Today: What do I know?
Markets Today: Turbulence

Markets Today: Turbulence

12 February 2018

Friday was another choppy day for equity markets, although the S&P500 managed to end on a positive note.

Markets Today: Turbulence
Markets Today: 19 January 2018

Markets Today: 19 January 2018

19 January 2018

Focus is currently on Washington where a US government shutdown deadline looms this weekend unless a stopgap funding bill is agreed.

Markets Today: 19 January 2018
Australian Markets Weekly: 11 December 2017

Australian Markets Weekly: 11 December 2017

12 December 2017

Two weeks ago, we wrote on the outlook for the AUD from our Head of FX Strategy, Ray Attrill highlighting the expected move of the AUD/USD into the US$0.70-0.75 cent range.

Australian Markets Weekly: 11 December 2017
Essential Asia: Selective optimism

Essential Asia: Selective optimism

15 November 2017

Our 2018 forecasts for Asian currencies reflect the view of reduced impact of Fed’s policy normalisation and more confidence about Asia’s external sector performance and overall growth prospects along a global economic recovery.

Essential Asia: Selective optimism
RMB Roadmap 2018

RMB Roadmap 2018

9 November 2017

While significant progress has been made on liberalising the RMB and opening up the onshore bond and equity markets, there are other structural reforms that need to happen before the floodgates can be thrown open.

RMB Roadmap 2018
Essential Asia: Politicking Policy

Essential Asia: Politicking Policy

10 October 2017

North Korea, China’s Communist Party Congress and Singapore's policy rate decision are on market radar in October, along with Fed’s policy normalisation thereafter.

Essential Asia: Politicking Policy
China: The Bond plot thickens

China: The Bond plot thickens

26 September 2017

China is set to increase foreign ownership of Chinese debt. In the near term, we expect Chinese bond market inflows north of US$1 trillion, but in the medium term inflows of more than US$2.5 trillion would not be beyond the pale.

China: The Bond plot thickens
Essential Asia: Greenback in the outback

Essential Asia: Greenback in the outback

4 August 2017

There are some signs of hesitation about pushing Asian currencies to significantly stronger levels than currently. While most will still respond to the US-centric factors in the USD price actions, but some domestic concerns could be kicking in.

Essential Asia: Greenback in the outback
Essential Asia: Surface tension

Essential Asia: Surface tension

12 April 2017

The USD’s softness has “strengthened”, ironic as it sounds. Perhaps it is more apt to say that the USD is increasingly depicting a soft Trump environment.

Essential Asia: Surface tension
Essential Asia: Time to get fiscal

Essential Asia: Time to get fiscal

3 March 2017

Our G10 FX Strategists still believe that the dollar can end 2017 higher than it is today, but a resumption of an appreciation trend could well be delayed until H2 2017.

Essential Asia: Time to get fiscal
RMB Roadmap 2017

RMB Roadmap 2017

10 January 2017

Over the medium term, the use of the RMB as both a trade settlement currency as well as a reserve currency remains a priority. This suggests the scope for an eventual “strong RMB policy".

RMB Roadmap 2017
Australian Markets Weekly: 14 November 2016

Australian Markets Weekly: 14 November 2016

14 November 2016

While it is reasonable to expect economic change, the degree is understandably uncertain given that in recent days some of the President Elect’s policy positions have been softened and meanwhile policy initiatives will need to be approved by Congress.

Australian Markets Weekly: 14 November 2016
Markets Today: Too Much [Brexit] Heaven?

Markets Today: Too Much [Brexit] Heaven?

28 October 2016

The Bee Gees 1979 classic “Too Much Heaven” pretty much sums up overnight news, with UK GDP printing much better than expected at 0.5% q/q against expectations of a 0.3% print.

Markets Today: Too Much [Brexit] Heaven?
Essential Asia: Awaiting emerging patterns

Essential Asia: Awaiting emerging patterns

20 October 2016

We revisited and reassessed our currency forecasts for Asia, in light of a base case scenario of a Clinton victory as well as the lesser probability scenario of a Trump victory.

Essential Asia: Awaiting emerging patterns
Markets Today: Bad [FOMC] Romance?

Markets Today: Bad [FOMC] Romance?

13 October 2016

While the FOMC Minutes captured the market’s attention, for your scribe the most instructive comments came from the Fed’s Dudley who serves as the FOMC vice-chair in his fireside chat overnight.

Markets Today: Bad [FOMC] Romance?
Markets Today: Chain Reaction

Markets Today: Chain Reaction

12 October 2016

Coming into work this morning I couldn’t help but think of Diana Ross’ Chain Reaction. It certainly was where US markets were concerned, with markets playing catch-up following the Columbus Day holiday to developments since the weekend.

Markets Today: Chain Reaction
Markets Today: Jump (for my love)

Markets Today: Jump (for my love)

2 September 2016

Jump (for my love) was a classic 1980s hit by the Pointer Sisters and one suspects would be particularly high in the Spotify lists of several Fed officials after last night’s weaker than expected Manufacturing ISM.

Markets Today: Jump (for my love)
Australian Markets Weekly:  1 August 2016

Australian Markets Weekly: 1 August 2016

2 August 2016

The market has continued to price toward the likelihood that the RBA will cut rates again at tomorrow’s Board meeting, pricing in this morning a 64% chance of an easing, with 36 of 47 economists surveyed by Reuters on Friday forecasting a cut this week.

Australian Markets Weekly:  1 August 2016
Markets Today: Gimme Gimme Gimme (Stimulus)

Markets Today: Gimme Gimme Gimme (Stimulus)

29 July 2016

Gimme Gimme Gimme was ABBA’s most successful hit in Japan, reaching No.17 on the billboard charts in 1979. It might be time to dust that record off today ahead of the Bank of Japan meeting decision at around 12.45pm AEST.

Markets Today: Gimme Gimme Gimme (Stimulus)
Essential Asia: RMB starts catching up to the USD

Essential Asia: RMB starts catching up to the USD

20 July 2016

The “tsunami warning” has been lowered and the Brexit-triggered shockwaves to financial markets was surprisingly shortlived. The global financial markets have renewed their risk appetite and developed a tentative pattern of hunting for yield.

Essential Asia: RMB starts catching up to the USD
Essential Asia: Within EU’ll Remain, Not!

Essential Asia: Within EU’ll Remain, Not!

20 June 2016

"Brexit" has engendered the risk of further fiscal and monetary easing in Asia and eventually, will renew focus on the widening growth and interest rate differentials with the US in relation to Fed’s policy tightening bias in 2017. We still view this risk as under-priced and an instrumental driver to sustain firmer USD strength ahead.

Essential Asia: Within EU’ll Remain, Not!
RMB Snapshot 2016: The RMB evolves

RMB Snapshot 2016: The RMB evolves

13 June 2016

The RMB flexibility helps to ensure that China is able to retain a meaningful degree of autonomy in its monetary policy. The authorities however are still keeping the volatility of the RMB significantly lower than the DXY and this is likely to persist.

RMB Snapshot 2016: The RMB evolves
Essential Asia: The dollar strikes back

Essential Asia: The dollar strikes back

20 May 2016

Against this strong USD background, we have identified KRW, SGD, MYR, THB, and TWD as being the most vulnerable over the next few months on account of their low carry.

Essential Asia: The dollar strikes back
Australian Markets Weekly – 21 March 2016

Australian Markets Weekly – 21 March 2016

21 March 2016

Labour market suggests RBA on hold but keep an eye on inflation expectations Markets again moving around sharply with a less aggressive Fed (two rate hikes now expected in 2016 versus four previously) seeing the US$ broadly weaker and $A stronger. Australian labour market data show slower trend employment growth in recent months, though some […]

Australian Markets Weekly – 21 March 2016
Essential Asia: The RMB Fog Clears

Essential Asia: The RMB Fog Clears

20 March 2016

Within Asia, those currencies with a greater sensitivity to global moves, like the KRW and SGD, have been amongst the bigger beneficiaries in March.

Essential Asia: The RMB Fog Clears
Essential Asia: The Monkey’s First Leap

Essential Asia: The Monkey’s First Leap

20 February 2016

We think Asian currencies are likely to still be tethered to the RMB, which is still likely to be subject to the authorities’ allowing of corporate outflows to dominate.

Essential Asia: The Monkey’s First Leap
Markets Today: Asian contagion (again)

Markets Today: Asian contagion (again)

8 January 2016

Similar themes from yesterday are at play today– China in the spotlight with its devaluing currency and equity market shenanigans; lower commodity prices and global equity markets tumbling; and a flight to the safety of the Yen.

Markets Today: Asian contagion (again)
Markets Today: An ugly start to the year

Markets Today: An ugly start to the year

5 January 2016

The first day of trading for many markets was a memorable one, with some big falls in equity markets. With the plunge in risk appetite, the Yen was the best performing currency

Markets Today: An ugly start to the year
Mini Markets Today – The Ace of Spades

Mini Markets Today – The Ace of Spades

30 December 2015

Some argue that there can’t be too many better analogies to predicting markets than playing cards or rolling dice, so the late Lemmy’s classic The Ace of Spades from the band Motörhead seems very apt this morning.

Mini Markets Today – The Ace of Spades
Essential Asia: Interest in Interest

Essential Asia: Interest in Interest

10 December 2015

With U.S. interest rates on the rise, the focus for Asia is likely to shift to the relative ability to cope. Key highlights: With the U.S. Federal Reserve embarking on a path to rate normalization, the focus in Asia is likely to shift to which economies are best placed to cope. Asia is likely to […]

Essential Asia: Interest in Interest
Markets Today: Markets remain resilient

Markets Today: Markets remain resilient

17 November 2015

In a relatively quiet session, the impact from the Paris attacks on global markets has been fairly muted. The USD is stronger against all G10 currencies with the euro and NZD sitting at the bottom of the leader board.

Markets Today: Markets remain resilient
Podcast: Greece Referendum Fallout

Podcast: Greece Referendum Fallout

6 July 2015

In this special edition podcast, Peter Jolly, NAB Global Head of Research, and Peter Hartley, NAB Business Markets - Foreign Exchange, discuss the latest developments in the Greece referendum fallout.

Podcast: Greece Referendum Fallout
Australian Markets Weekly: Greece faces very tough few months

Australian Markets Weekly: Greece faces very tough few months

1 June 2015

A big week with Q1 Australian GDP, the RBA’s June Board Meeting and US non-farm payrolls for May at the end of the week. Greece faces a tough three months, with large debt, loan and interest payments due between June and August. In our highlighted article, we focus on different scenarios for Greece and what they mean for the EUR and AUD.

Australian Markets Weekly: Greece faces very tough few months