Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

A sea of green across Asian share markets to finish the week in a mood of optimism as more “talks” about the trade war between US and China scare away the short sellers. Gold has hung on despite a big inversion overnight while USD has risen against Yen and Yuan, with the Australian dollar still holding above 68 cents.

The Shanghai Composite is trickling along, only up a handful of points where it looks like closing the week just shy of the 3000 point barrier while the Hang Seng Index has put in a solid 0.5% rise to 26672 points to claw back yesterday’s losses:

Japanese share markets are up a simialr amount as Yen continues to sell off with the  Nikkei 225 currently up 0.5% at 21211 points making another new daily high. The USDJPY pair has popped above the 107 handle after getting through long held resistance at the 106.60 level as momentum picks up on the four hourly chart:

The ASX200  continues its own solid run, also up 0.5% to be at 6646 points despite a still strong Australian dollar – and the overall macro conditions. The Aussie is holding here just above the 68 handle as traders await tonight’s NFP print to see if the USD remains strong:

S&P and Eurostoxx futures are building already in response to the firm moves here in Asia with the S&P500 four hourly chart showing price wanting to get back to the previous highs at 3000 points after recently breaking through the 2940 point resistance level :

The economic calendar finishes the week with the big one on the calendar – US unemployment – which should set the tone for the rest of the month!

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  1. Hows the market for getting first comment going, is this still worth anything?

    Damn beat by a second

    • This thread is like one of the heats. The Weekend links thread being the gold medal event. It requires a very quick shift from left-handed mouse to right-handed mouse, and then back to the left after the race has ended.

      • the former owner of the home grew suspicious of the Hoth Mai family owing to difficulties with the settlement, including the family experiencing trouble getting money out of Dubai. He reported his concerns to the Foreign Investment Review Board but told the Australian the board “didn’t want a bar of it”.

        Fvcking unbelievable.

    • He would be remembered as a hero if he died 20 years ago, before the farm invasion began. It is a curse to live too long.

    • TailorTrashMEMBER

      As a young man I visited Rhodesia …….and a jolly splendid place it was too …….then it got liberated ………but the great liberator stayed too long and took too many spoils ……….he should have taken example from Mandela and gone back to his village …..

      …instead this is the image that he leaves ……

      “Controversy ensued when Grace Mugabe was given a doctoral degree in sociology in September 2014 from the University of Zimbabwe two months after entering the programme. She was awarded the degree by her husband and University Chancellor Robert Mugabe. Her doctoral thesis was not published in the university archive along with other graduates and she has faced calls to return her PhD.[40] The awarding of the degree caused a backlash in the Zimbabwean academic community, with some commenting that this could harm the reputation of the university.[41][42][43][44][45][46] On January 22, 2018, the University website published Grace Mugabe’s PhD thesis.[47] Levi Nyagura, the vice chancellor of the University of Zimbabwe, was arrested by the Zimbabwe Anti-Corruption Commission to be charged with abuse of office following an investigation into the PhD.[48]”…….Wikipedia


    Where to now as KiwiBuild dust settles? … Dr Eric Crampton … Newsroom

    The victory of Labour over itself in abandoning the sunk cost of KiwiBuild could mark the end of the beginning of the war on the housing crisis – but only if councils can stop seeing growth as a cost rather than as a benefit. … read more via hyperlink above …

    … If all Councils performed like these two, we would not have an unnecessary housing crisis …

    Statistics NZ … Building Consents Issued … July 2019

    … check graphs 5 & 6 …

    • Heard that 1 before still funny. Capital of London in a Cayman Islands bank account is the other 1.

  3. Today I manged to exit all gold miners and make around $200 profit. This is not bad considering what happened to the gold price. Still hold few exploration stocks. My hope is for US to print solid job numbers and gold to fall further. Plan is to jump back on Monday with few small buys in few stocks and to do lot of daily trades. Will see how things pan out.
    I have my list and now I just need gold to fall about $20 or more.

      • mate, I trade daily.. and today I was in St George Private taking my wife to get her bunion (both feet) bandages taken off and took longer than planned as she almost fainted. I made it back right at 10am and could not cancel my AMI orders at 52c and 51.5c. Also I held 15k SBM at $3.12. So started my day with first two trades (in my control) making $750 and $600 losses. I haven’t run the numbers but I am sure I made $200 profit or bit more. I made 3 trades with SAR that made me some money – twice I bought at 3.57 and sold at 3.59 then I got caught on my third attempt as I bought at 3.57 and they dropped down to 3.51. I bought more near the bottom and sold 40k for 1c profit. If I had patience I would have made more money but I had all my funds in and wanted to make sure I exit most and don’t sustain losses or at least not large losses.
        So yeah.. I am happy how it ended up. Yes, I could have played smarter and better but those who have done it under pressure transacting multiple orders inside 2 minutes know how it feels.

        • Edge of the seat! No fun if the money is needed either!! I’m back to writing FX Algo’s & in trials they’re doing alright & they can do it far easier than I can. They need more time/work/proof, but they’re the most promising I’ve had them running so far. Can they replace me? I think I can trade better than them as I can choose my shots better considering cross correlations & the vibe of exterior inputs that I can’t program, but over time I’m starting to wonder…… I’m not a machine either – need my sleep, no over nighters for me…… possibly a complimentary strategy…….

          I’d still prefer to work but they took our manufacturing jobs, & I’m not cut out to smile politely while some a*sehole is tearing strips off me at a cash register!

      • I really like:
        SAR – this is the one in my view.
        SBM (still don’t fully appreciate, in terms of value (and not only price paid but potential) their Canadian acquisition though)
        NCR – even though I doubt they will ever drop down to $23 where I bought them (sold them too early $33 if I remember right)

    • same here 800 bucks on 3k on WSA (not gold tho)!

      and pulled 300 out of my yank from 4.5k

      waiting for them to go back down, so watch them rocket!

      still, got a bit anxious and wanted to take some profit

    • What we’re the fuken 0s gold finger will turn to stink finger lololol it has no value only primatives value u gold

      • one of the primitives made $63k in 6 months trading gold stocks while you spend same amount of time under your manager’s desk to keep your job. lolololol

    • The Traveling Wilbur

      Isn’t this a wonderful country for those wanting to ‘have a go’ (and might otherwise have been a little concerned if they’d be caught doing so)?

      Here’s a list of what we KNOW are the industries where the regulator and/or judiciary has gone soft to the point where even the offender admits a breach of law, and yet SFA happens to them:
      – far and away, #1, banking, with AML breaches. Actively permitted funding of suspected terrorist activity.
      – insurance, dead people billing.
      – property developers, see above.
      – building certifiers or builders, scenario dependant, I guess we’ll find out which at the subsequent enquiry when a building finally falls down and kills someone.
      – mortgage lenders, with 1000s of documented cases of mortgage document manipulation and fraud. And nothing.
      – And how can we forget RE agents. I’m sure they must have done something they’ve actually owned up to. At some point.
      – oh and fckn Uber. Biggest law breaker of them all. Hope the taxi companies take them to the cleaners with their civil action.

      Nothing for any of them. Except more business, commissions and bonuses.

      Unless you are a priest or a local government politician it would seem anything goes.

      I’m as mad as hell about this, and I’m just going to go on about my business and pretend it’s all good. Like all the Investment Property owners do. Every day.

      Remind me who the smart ones are again?

      • Mining BoganMEMBER


        *waits patiently for cricket dressed as Don Quixote. Tonight Jack The Dog plays the role and looks suitably fat as Dapple The Donkey*

        • The Traveling Wilbur

          Well, while we’re on the subject of things that people don’t care about, these fckrs that post on these new (old) 4th and 5th levels really give me the irits. Have to keep turning the phone round for landscape viewing. Very 2010. Selfish chunts.

          Jack sounds very fetching btw. heh.
          You started early tonight I take it?

        • Outing mig was more a case of his band of brothers mental facilities fogging the mirror, albeit cast aside like an old toy once the spring wore out.

          Pointed out years ago that your camps intellectual capital destruction was self inflicted, cheaper than a 3rd rate politician seeking election funding.

          Those heady pre GFC days must be thin gruel after so many falsehoods litter the floor, not to mention the currant crop of political ideologues flailing about.

    • Wow, didn’t realize it went down that much even though I was reading the IO posts until recently. The direction of the AUD is a complete mystery to me these days. The more I follow it, the less I understand it.

  4. Fuk u world you will bend or I will break you because iam man and no one stands in my way iam king maker

  5. Vale Robert Mugabe. No Fckn way. Zimbabwe has been done over for an extra 40 years with Mugabe et al. Total corruption & useless worthless direction. Why do all these basically good countries end up so bad? Nothing going to change.