Macro Afternoon

See the latest Australian dollar analysis here:

Macro Morning

Well it’s been an interesting day to say the least here in Asia for risk markets with the Iranian attack on US bases in Iraq dominating the news and sentiment. Gold spiked above the $1600USD per ounce level alongside Bitcoin and other safe haven assets, setting of a chain of cash spilling out of stocks with only the ASX200 missing out on a wider selloff.

The Shanghai Composite has closed 1.2% lower to 3066 points, while the Hang Seng Index fell the same, just hanging on above 28000 points and above daily support:

Japanese share markets had volatile sessions alongside swings in Yen with the Nikkei 225 taking back its recent gains to close 1.6% lower to 23204 points. The four hourly chart of the USDJPY pair shows this immense volatility around the Iranian attacks with a brief interlude below the recent extreme lows before a recovering back above the 108 handle:

The ASX200 was a standout again, this time because of the lack of volatility, only losing a scant 0.1% after being down nearly 1% in early trade, closing at 6817 points.ย  The Australian dollar is going almost nowhere since its big breakdown last night, hovering right on the 68.70 level against USD but looking quite delicate going into the City open:

Both S&P and Eurostoxx futures are suggesting a big return to volatility tonight with the S&P500 likely to oscillate above the 3200 point barrier as traders re-weight their risk assets a little less complacent before today’s attacks:

The economic calendar includes two mid tier releases, namely German factory orders and the latest private employment numbers from the US. Oh and what will probably be a rambling press conference or a slurred speech from President Trump. Good luck trading around that!

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Comments

  1. GunnamattaMEMBER

    OK my little chickadees

    I am wondering if anyone is interested in sharing bushfire related photos for a post tomorrow on Australias bushfire season as seen through MB Member/Commentariat eyes (and their friends).

    I have a load sent by a mate from SE NSW.

    If you have them and are interested in sharing could you beam them to

    [email protected]

    Preferably along with a brief caption of where they were taken, and some indication of either your MB ID or who you would like to have the photo attributed to.

    I do not want photos of any political figures or media commentary types. I am talking burned out buildings, or fields or forests, smokey skies, people fighting fires, coping with smoke, trying to get away from it all โ€“ that kind of stuff.

    Love and kisses

    G

  2. The Traveling Wilbur

    Good luck trading around that!

    Indeed.

    So, consequently, out of ASX entirely as of today (Gav starts housing booms, I just start boooooms baby). Which means… a technical defeat for the sun’s spots (sans), technically. But a moral victory for bcnich as I’d much rather be in than out, and I’m out only out due to this Trump lunarcy. Heh. Still, rather ones and zeros in front of me than spots, any day.

    Odd thing is, if it hadn’t been for Trump shutting the heck up today and deferring a press conference until later, the sun spots would most likely have taken the lead dollarwise also. Go Trump staying quiet, it’s our only hope?

    • yes, and somehow they also expect us to believe that intelligence isn’t predominantly genetic also

      • What do we want? Free contraception for simpletons, and lower teh rates! When do we want it? Now!

        • I remember reading an article about access to resources being a major influence. There is no point in having talent without resources. I remember them saying if you have an athlete who does not have natural talent plenty of resources they could make it to the top 30 in tennis – which is still pretty good. It is the ones with talent and resources that can make it to the top 5.

    • You mean it’s not possible to be Sir Viv just by chewing gum and refusing to wear a helmet when batting? Who could have known?

      I guess that we are lucky that this study only relates to sport and every other individual trait from poverty to not being able to code is just down the moral failing of that particular individual.

      • The Traveling Wilbur

        Only gullible morons buy investment properties… what can we infer from that? ๐Ÿข๐Ÿง๐Ÿ’ต๐Ÿ’ต๐Ÿ’ต

    • GunnamattaMEMBER

      Geez you’d want to be careful with that.

      Before long you’ll be on the road to thinking that some people that some people are stronger than others, some people are faster, some people have twitchier muscularity (and may be more prone to muscle tears), some people have better endurance.

      Then you may find yourself in the shameful position of identifying that maybe the majority of women are slower than men, or not as strong, but that they do have better endurance in ultra swimming events………

      and then it is only a step to wondering if people have the same thinking capacity, or even think the same way.- or could, or should

        • The Traveling Wilbur

          Anyone who passes me on my bike is a fckn chunt. And I want it back too. True story.

        • Anybody who passes me on my bike is probably appalled at the horrific thing they’ve just witnessed. It’s the lycra.

        • I’m pretty fit, or at least I think, but the amount of times I’ve been passed by serious cyclers going up Anzac bridge after a day of work makes me wonder just how fit some people are. It’s either that or the stress of my job and heavy backpack slow me down?

          I’ve definitely noticed on days when work has gone well I have more energy..

    • Mining BoganMEMBER

      Oh wow, I hope that link doesn’t start any flame wars. I only posted it because I’m thinking riding in a wig would be nice, especially if I’m wearing my new purple and lime activewear.