Macro Afternoon

A sea of red across Asian stocks markets today in reaction to overnight caution on Wall Street with the latest unemployment print locally causing the ASX200 to slip while Japanese markets have given up almost all of their recent gains as Yen strengthened on the risk off move.

The Shanghai Composite is set to close lower as confidence evaporates, currently down 0.2% to 3252 points, while the Hang Seng Index is back below the 30,000 point level, losing 0.5% to be at 29952 and looking weak here, failing to burst through firming resistance at the recent daily highs:

US and Eurostoxx futures are down sharply, with the four hourly chart of the S&P 500 showing a significant retracement and break below recent resistance that had been support for most of this week at the 2900 points level with trailing ATR support also taken out:

Japanese stock markets have retraced even further due to a much stronger Yen with the Nikkei 225 losing nearly 1% to finish at 22090 points. The USDJPY pair broke below its own low moving average on the four hourly chart, getting out of what has been a very tight trading range:

Australian stocks are still doing poorly with the ASX200 closing 0.1% lower to 6249 points in reaction to the higher than expected unemployment print.  This also took the sails out of the Australian dollar with a pullback below the 72 handle but still being respected on the uptrend:

The economic calendar continues tonight with three releases of note, first its the BOE’s credit report, then preliminary PMI prints for Europe followed by US advance retail sales for March.


    • CanuckDownUnder

      Nah SAP are now worried about live exports, asking who is standing up for the animals. I guess they forgot about the Animal Justice Party which is odd as they have 2 senate seats in NSW and SAP have none.

      Why aren’t they standing up for lower immigration?

      • Where did you get that from? There’s nothing up on their page and a quick google search also didn’t bring anything up.

      • CanuckDownUnder

        footsore – it came up on my Facebook feed. Just like their complaint about overpriced vegemite at the airport.

        It’s just a constant parade of confusion, the one issue that they could and should be getting traction on is lower immigration but they refuse to mention it for fear of offending someone. Wanting lower immigration is not racist!

      • Well there you go.
        And why would someone highlight Vegemite being overpriced at an airport?
        Everything at the airport is overpriced.

      • The ‘Animal justice party’ have a name who says what they are.
        Kind of like the sustainable population party….
        If SAP was called the sustainable population party it would have federal and state upper house seats.

        The worst mistake they made was changing their name from simply saying what they were about.

    • The Traveling Wilbur

      So… the Nashville Country and Western Museum is running on borrowed time then?

    • haroldusMEMBER

      I had a cool glitch in that game for a while where every character’s face was blank except for the eyeballs and hair.

      So all you got were eyes and hair talking at you.

  1. The Traveling Wilbur

    I’ve tried that new mycellar water that all the girl-celebs seem to be on about these days now that it’s finally rained some I mean. Fortunately I’ve got a basement so it doesn’t take too long to collect enough for a few days of use but every time I just end up with a rash. Can’t recommend it.

  2. haroldusMEMBER

    I’m sitting in my parent’s shed and have discovered an UFH Transceiver.

    3 Watts, 80 channels. 10km range.

    I’m charging it up.

    What can I do with it?

    Can I contact truckers?

    That’s a big 10-4 from Uncle Harry.

    • Let the good people of the UHF world know that your parents have locked you in the shed again.
      It’s unfair that only the free choice lock-ins at MB have access to this knowledge.

    • I can see it now….

      Haroldus – Played by Chrisopher Pyne
      Father – Played by Bryan Brown
      Mother – Played by Jacki Weaver

      Sound of door knocking. Then door opening

      Mother: “Haroldus dear. What are you doing here.”
      Haroldus: “I’ve been naughty again mother.”
      Mother: “Father. Haroldus wants to be locked in the shed again.”
      Sound of Father walking to door.
      Father: “Evening Haroldus. The Sharks won. I didn’t mind ET. I can’t stand them now that Morrison is associated with them. Anyhow. Mother says you wan’t to be locked in the shed again.”
      Haroldus: “Yes father I’ve been ever so naughty.”
      Father: “Ok. I’ll lock you in. But not for too long. It’s late and your mother and I have things to do tomorrow. I’ve got to get a new battery for the mower and she’s heading off to a new book club she’s joined. They only read books that haven’t been translated directly into English. A very strange woman. Come on.”
      Haroldus: “Don’t you want to know what it is that I’ve done.”
      Father: “No. Not really. I still can’t use the computer without thinking about that left handed mouse.”
      Haroldus: “It really is very truly very naughty.”
      Father: “No. Let’s just get this over with. Fifteen minutes. That’s all you get.”
      Haroldus: “I’ve been much, much naughtier than that.”
      Father: “So, I’ve been looking around in there and I think it’s time to get rid of some things. See if there is anything you like.”
      Mother: “Haroldus, dear, I’ve poured a glass of that red that you like. It should have aired just the way you like it by the time you get out. Will you be warm enough out there?”
      Haroldus: “Mother. I’m here to be punished.”
      Father: “Don’t talk to your mother like that. Do you want me to pull that shed down.”
      Haroldus: “No father.”
      Father: “Good. It’s only standing because your mother says you still need it. Need. She used that word. Here we are. We’ll be back in 15. Afterwards you can have your red and then you’re off. OK.”

      Sound of a creaky shed door slowly being opened.

  3. First off, I do appreciate all of the responses I got from my morning post.
    Second, the cvnts thing was meant to be a term of endearment, and youse responded in kind, and that’s why I love this group of commenters.
    Third, I’ve taken your advice on board and poking around elsewhere. This option did glare through as the thing to do. As much as I dislike this option (I really thought 10 years ago that this is the place I want to be), it appears to be the next step.
    I’m not new to changing scenery, if I do jump, it will be the fourth country in a bit of over 40 years since birth. Ino was very perceptive in his assumptions about our identity, and as such, the path forward is elsewhere.
    Bit of a letdown, really, but them are the breaks I guess. Having lived through a few calamities, economic meltdowns, broken societal situations, hunger (sh!t you not), I find it’s time to enjoy. Yeah, there will be challenges, yeah, I can take them on, but being a couple who adds value individually and on their own, the level of struggle, the amount of stress, and the limited returns make one question the effort Putin (pun!).
    Thank you, my dear friends I’ve never met, for taking your time and effort to respond.