Macro Afternoon

Yet another mixed day here in Asia as tensions rise once again on the Korean peninsula and the impact of higher US interest rates from the spike in Treasury yields is felt across risk markets. Only the ASX200 put in a positive session with gold putting in a small rebound from its sharp selloff overnight.

The Shanghai Composite could not get a good start and stayed in the red the whole session, again failing to breach the next resistance level at 3200 points, off by nearly 0.7% to finish at 3167 points. The Hang Seng Index almost finished in the green but came away with a scratch session to finish only a few points lower to 31135 points, finding some intrasession support at the recent daily lows after rejecting the trailing daily ATR resistance line:

S&P futures are steady after last night’s pullback with 2700 points remaining key support going forward:

Japanese stocks were pushed down as Yen strengthened throughout the session. The Nikkei 225 closed down 0.4% to finish at 22717 points, still unable to get out of its recent sideways funk.. The USDJPY pair came back to the 110 handle proper after being way overbought night in what looks like a normal pullback before tackling the next line of resistance up at 113:

The ASX200 had the best session in the region, finishing 0.15% higher at 6106 points, but still unable to make a new high from previous attempts. The Aussie dollar came back as expected, almost hitting the 75 handle as it bounces off the bottom of a very wide trend channel on the four hourly chart, that is actually signalling a bearish reversal on the dailies:

The economic calendar continues tonight with only one major event to note, a speech by ECB Prez Mario Draghi in Frankfurt.


    • Ronin8317MEMBER

      One of the biggest difference between a police state and a free country is you don’t have to carry an ID with you at all time. We once rise up on the street over the idea of an Australian card, now we gladly bend over and hope it doesn’t hurt too much.

      But.. terrorism!! We must give up all our liberty or the terrorists will wins!!

      • Cyclone Ranger

        I will take that as a comment… a cleverly self-answering one. Key word that was missing being “yet”.

    • I hope they do not require people to show a ticket and ID to enter the terminal. That would be horrible.

      They already have a fence around Parliament House! Are the Greens going to take it down?

      The left wing is no better – they want to stop Chris Brown and Milo from coming here. What a joke. There should be a free movement of people and only a ban on them working here for rock bottom wages.

      • Cyclone Ranger

        Well… that’s kind of a different issue and would depend where the staff in question were stationed as to the answer.

        For the nightmare scenario think annoyed officer patrolling the public side of the arrivals area yelling “Oi, you, come here and show us your creds. Now. Dirtbag.”. Or some such.

    • He’s just trying to win back those he scorned last time. Since the rest of the polity haven’t made any advances towards this group this line may just work.

  1. Cyclone Ranger

    Just abandoned a new episode of The Simpsons (live TV) in favour of Car Crash Global (also live TV).

    A win for everyone all round really.

    • Super Phoenix

      Where have these millennials been? Don’t they know Straya’s national pastime is victim blaming?

      Because we are, unlike these 3rd world losers out there, ahem, humane!!!

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