Macro Afternoon

See the latest Australian dollar analysis here:

Macro Morning

A solid session for most Asian stock markets although this hasn’t translated into a full risk on response from S&P and Eurostoxx futures as currencies were unable to move in their risk proxy directions as usual, Yen in particular. The gold price and Yuan fix stayed steady while Bitcoin attempted but failed to breakout of its current funk.

Chinese stocks are the odd ones out with the Shanghai Composite barely hanging on to a positive result to close just above the former 2900 points resistance level. The Hang Seng Index fell back below its own resistance zone at 27000 points, falling 0.2% to 26943 points. An initial gap higher was retreated throughout the session and puts some doubt towards any sustainable trend:

Japanese share markets had a solid push, initially helped by a weaker Yen which then reversed later on in the session with the Nikkei 225 closing 0.3% higher to 23373 points, as it continues to build above daily support at the 23000 level. The USDJPY pair continued its Monday morning gap higher but then suddenly reversed once the 109 handle was breached, falling back below and looking considerably overbought going into the City session:

The ASX200 was the best in the region, closing 0.8% higher and almost cracking the 6800 points barrier, helped along by a big surge in Caltex. The Aussie dollar is trying to find a bottom here with a few slightly higher session highs as it grapples with last week’s extreme low at the 67.70 level:

Both S&P and Eurostoxx futures have stalled despite the good run here in Asia with the S&P500 four hourly chart showing price hovering right on last night’s closing level but still above theĀ  record high of early last week at 3130 points:

The economic calendar includes the US advanced trade goods balance, the latest house price data and some more GDP components including inventory reports plus the latest consumer confidence index.

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  1. The Traveling Wilbur

    What’s it take to come First around here?

    Fairly sure that won’t be a new question for most of you.

    • Wow …. what a bent perspective … heads up …

      Neoliberal countries thought they could infiltrate China like they did initially with Russia and loot the joint, that went pear shaped, both China and Russia responded by assuming for all intents the same economics but without completely bending over for the lusty desires of anglophone machinations to make them new extraction points for rents with compliant governments like most of south or central America et al.

      FFS how Europe cried when the Nouveau riche invaded back in the day …. lol

        • Ugh ZH bending reality again post facto … its an AET site …

          Mark Ames covers this territory quite well back in the day even tho warts and all as a human he was found wanting, shades of others like Hunter S. Thompson. Man those bonds blew, up not to mention the oligarchs were originally set up by the Chicago school but, Putin nationalized them, western media propagandized that this was anti freedom and liberty and an affront to liberalization both socially and economically.

      • The Traveling Wilbur

        Nah. Different issue. Chinese looooove baseball.

        Plenty of scope for double-headers in Tassie.

        • And USians love dem some CHI DAI Gridiron and Haitians love both the Clinton’s and Bushes for funding the rebuilding of their pro sports gear sweet shops so the USians would not be want for consumerist upscaling by proxy of some dude on TV’ee hero worship … so they would have a purpose in their miserable life’s …

          And people like you take exception to the notion of not being on top of the pile …. what moment …

          • Hay tim can you mangle word and meaning out side not only its original author’s intent, but your tiny reality …. oops that is a wee bit presumptuous but hay you’ve got the faith … must make you feel like a man ,,,

    • It honestly feels to me like we are sleep walking into ww3. All the signs of China being an expansionist power are there yet we ignore them while there is money to be made for the elites.

      • That tends to be my concern also. Maybe I’m just a racialist and don’t trust the Chinaman like I do the US, but they seem so nefarious and sneaky in the way they are going about things. It just doesn’t sit right with me, plus they are communists ruled by a dictator, so there’s always that. I just don’t believe there is any checks and balances in place.

        I am thinking if China did take over, there goes all that property wealth lol.. you won’t own anything anymore after that.

  2. And the media doesn’t report on a liberal party state members call to drop the cash ban bill. We really are living in a corrupt fvcking cesspit of a country of vested interests these days. They want to ban cash because of the so called black economy but let the secong tranche of AML laws languish whilst billions is laundered through real estate. I am so fvcking sick of this sh1t.