Macro Afternoon

Despite the mixed lead from Wall Street overnight, sentiment has risen here in Asia with more positive comments surrounding Chinese trade talks as the G20 approaches.

The Shanghai Composite has bounced back to life, up nearly 0.7% and almost over the 3000 point barrier while the Hang Seng Index has advanced much further, closing nearly 1.5% higher to 28596 points. The daily chart is had stabilised after a recent small dip and has now made a high, almost signalling another breakout:

Japanese share markets also advanced as Yen sold off with the Nikkei 225 taking back the two previous poor sessions to finish over 1% higher to 21338 points. The USJDPY pair has now broken through the 108 handle with a big session this morning, reaching the dominant downtrend line (black sloping line) but can it stick going into the G20 meeting:

The ASX200 had a reliatvely poor session, only advancing about 0.3% to close at 6666 points.  The Australian dollar is still pushing higher almost reaching the 70 handle as its short term target:

S&P and Eurostoxx futures are both up 0.3% reflecting the positive sentiment from Asian shares with the four hourly chart of the S&P500 chart showing a hesitation to drop below the previous breakout point at 2920 points:

The economic calendar includes the latest German CPI print, plus more home sales data from the US tonight.

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Comments

  1. The Traveling Wilbur

    Israel says stop giving me money, I love youse all heaps Gazza.

    In other news, Folau’s ACL funding campaign put on hold as people have woken up to the fact that the ARU don’t have $2m to spend on, well, anything. But especially a case where they might win and still not be awarded costs.

      • Jesus, that really cleared things up for me. 🙁

        And that’s with the note at the end that said the first version had been edited for clarity.

      • I wonder if Folau understands how his position relates to the Samoan culture and if he would care to take it up, in person, with them.

        Reminiscent [???] of that first Key and Peal movie ‘Get Out’ or is it more like the new Sheriff of Rock Ridge thingy … someone please help that poor B*#!kman ….

        Alternatively we always have St. Carlin for guidance on ex ante opinions.

      • For a supposed “political reporter” that Sam Clench has absolutely no idea. The money was raised to battle a political issue, not a personal issue.

      • drsmithyMEMBER

        LOL. Even ground zero of Conservative Persecution Syndrome can’t drum up a simple majority in a self-selecting online poll.

        Hilarious attempts to spin this outcome in the “analysis” as well.

    • Good article uploaded 22 hours ago:

      By Pru Goward

      If the ’60s had tipped the scales in favour of individual liberty and freedom of choice, expression and association, tolerance would keep winning. Until now. Now we are fighting to revert to the censorship and disapproval we once fought against.

      And Folau is not done yet. To censor Folau has made his case the stronger; when GoFundMe stopped his collection, the donations grew. Exactly as the protest movements grew in the ’60s and ’70s whenever the establishment attacked them.

      What a pity Folau had not been dismissed as unkind or intolerant, then ignored. He is free to base his life on the teachings of Paul, and others are free to find them ridiculous.

      While the fake left literally kills people:

      26 June 2019

      ‘Pick fruit or lose welfare’: PM says

      dole money withdrawn for four weeks

      https://thewest.com.au/countryman/horticulture/pick-fruit-or-lose-welfare-pm-says-ng-b881241502z

      UBI would end all that slavery.

      • I guess some just kept hitting the snooze button all the way through the Chicago School episode …

  2. haroldusMEMBER

    I hope everyone’s voting for Tom. And I like Micallef. Most of that other sh!t I’ve never heard of, so just voted neighbours of home and away on the those. I know Alf. What happened to roo?

    You Are Voting For:

    TV WEEK GOLD LOGIE – Most Popular Personality on Australian TV

    Tom Gleeson
    Hard Quiz, ABC

    Most Popular Actor

    Ray Meagher
    Home And Away, Channel Seven

    Most Popular Actress

    Eve Morey
    Neighbours, 10

    Most Popular Presenter

    Tom Gleeson
    Hard Quiz, ABC

    Graham Kennedy Award for Most Popular New Talent

    Eddie Woo
    Teenage Boss, ABC

    Most Popular Drama Program

    Neighbours
    10

    Most Popular Entertainment Program

    Hard Quiz
    ABC

    Most Popular Comedy Program

    Shaun Micallef’s Mad As Hell
    ABC

    Most Popular Panel or Current Affairs Program

    7.30
    ABC

    Most Popular Reality Program

    Australian Survivor: Champions Vs Contenders
    10

    Most Popular Lifestyle Program

    Gardening Australia
    ABC

    Although this URL seems a bit dodgy. Recommend googling

    https://www.nowtolove.com.au/celebrity/tv/vote-in-the-2019-tv-week-logie-awards-54150

    • Were you reading The Womans Weekly in the lunchroom and decided you needed a bigger fix when you got home?

    • Tom Gleeson is such an awesome stand up comic, I don’t know why he cheapens himself with this crap. Sold out I guess.

    • Top find Timmeh. This line gave me a giggle. “My landlord and REA are great by the way and I’m pretty sure they will deal diligently with any problems.” 🤣🤣

      On that subject:

      “Residents from Mascot Towers are set to be told a return to the troubled complex is “unlikely” and there is now no timeline for repairs.“

      Can’t go back in. Can’t be fixed.
      https://www.news.com.au/national/nsw-act/news/mascot-towers-residents-told-a-return-unlikely/news-story/c0e8dbb10fdbcc593bb550953cd9b061

      F#ck me.

      Black swans flapping in…

      • Arrow, you gotta wonder when the sheeple will finally wake up to all of this. The writing has been on the wall for so long, yet everyone seems to be living in a parallel universe!

        I really hope it falls down. Might wake a few people up to the corrupt state of life that we now live in.

      • Timmeh I know that feeling … “can I REALLY be one of only 57 people in Australia who sees this coming…?”

      • I just had dinner with a friend whose son is moving to Melbourne from Canberra. He owns a Canberra apartment. It has some fairly serious construction issues. He’s going to rent it out and buy an apartment in one of those fancy tower blocks in Melbourne and make bank with rental income and capital gains.

        She asked my what I was looking at and why my eyes were bulging. I gave her the rundown on flammable cladding, crumbling towers, falling apartment prices etc. She goggled at me as though I was a space alien. Real estate prices only ever go up. She knows this because she read it in the paper.

        Not everyone reads MB. This is why apartment prices haven’t gone to zero across the country.

        I shakes me head.

      • The Traveling Wilbur

        Meh. There might be 57 shut ins. But I’ll be damned if they all agree on anything, let alone the future of Australian housing.

        Let’s call it 38. But only because 12 of them consistently hold multiple diverging views on issues simultaneously.

    • You had me at “spurting”… ‘Water spurting through underground car park wall’ … ooh, Timmeh! 🥰

      • I showed the missus and she said she’s getting wet at all this talk of wetness. 😛

      • haroldusMEMBER

        Hey Gav tell your missus 57 incels are thinking about her!

        ***Gavin has a small holiday from MB

        ******Next…

        “What are you looking at Gavin?”

        Nothin. Cars.

        “Give me the phone, Gavin. It’s MB again, isn’t it?”

  3. Fresh on the back of Prissy Pyne’s fresh out of parliament stint at EY, we now have find that Queensland’s finest only renounced his business interests before the May election.

    From the Guardian who’s leaving the MSM in their political dust:

    “Peter Dutton has revealed that he renounced a financial interest that could have seen him disqualified from parliament before the May election, as he fends off calls for his eligibility to be tested in the high court.”

    Dutton only renounced his business interests receiving Government money before the election? WTF? Royal Commission NOW!

    https://www.theguardian.com/australia-news/2019/jun/27/christian-porter-confirms-tense-exchange-with-turnbull-over-duttons-tilt-at-pm

  4. This evening’s hypothetical question. If you had Kohli, Smith and Williamson in the same team what order would you bat them in? And would it change between tests and one-dayers?

    Kane, Virat then Steve at three, four and five respectively in both forms for me. Williamson just seems most like a first drop and Smith is the most adaptable. By process of elimination Kohli comes in at four.

    Pondering the imponderables this evening.

  5. Kholi last, because I’d enjoy watching him lose the plot in the stands while Smith and Kane “stole” all his runs