Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

A mixed end to the trading week here in Asia as risk positions for tonight’s US unemployment print that will set the tone for the rest of January, post the Iranian crisis. Meanwhile, the PBOC daily Yuan fix saw another drop in offshore trading while the latest retail sales print pushed the Aussie dollar slightly higher.

The Shanghai Composite is putting in a scratch session, currently down nearly 0.2% to 3090 points, while the Hang Seng Index is hovering along without much upside, finishing only 0.2% higher at 28603 points, still well supported:

Japanese share markets simmered down, in sympathy with the slowdown in the Yen selloff against USD with the Nikkei 225 putting in a modest 0.4% return to 23833 points. The four hourly chart of the USDJPY pair shows this deceleration back up to the previous post Xmas breakdown highs:

The ASX200 was instead the best in the region, making a new record high by closing 0.8% higher to 6929 points. Go stocks!  The Australian dollar remains stuck in a holding pattern but still managed to put on a few points post the surprising uptick in November retail sales – but the four hourly chart remains poised here:

Both S&P and Eurostoxx futures are suggesting another higher tonight, making more record highs as all the shorts are wiped out:

The economic calendar will focus squarely on tonights NFP/US unemployment print. Have a good weekend!

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Comments

  1. a record 211,723 people won the right to call Australia home in 2019

    I thought Scummo cut the immigration rate to 160,000?

    ‘Network effect’

    The nepotism effect. We need a per country cap on immigration.

  2. TailorTrashMEMBER

    I have always found Indonesia to be a little dark and mysterious…..perhaps their Dutch versus familiar British
    colonial history…….hopefully the Chinese are going to find similar ..,,,.a moment of truth might be approaching for straya …..Scomo might need to to pile in … many of our friends in Asia will follow ….(discounted for corruption of course )
    https://www.thejakartapost.com/news/2020/01/08/jokowi-asserts-indonesias-sovereign-rights-in-natuna.html

    • ErmingtonPlumbingMEMBER

      First thing I thought of when that Iranian Boeing crash happened was, did the Iranians themselves set up this crash to damage a major American Exporter as part of the payback for the Assassination of that General bloke.

      • The board did exactly what the ‘shareholders’ wants : stop development of new plane and use the money to buy back shares instead. After the first crash, Boeing issued a directive to the pilots telling them how the MCAS problem can be fixed. That directive is written by management rather than a pilot or engineer. When the pilots of ETH302 followed that directive after a bird strike removed their AoA sensor, the plane still crashed. That is why the plane is grounded. Plenty of planes still fly with known safety issues, but no plane still flying when the manufacture directive to bypass the safety issue crashes the plane.

        I expect Boeing to file for bankruptcy next year.

  3. “We don’t want job-destroying, economy-destroying, economy-wrecking targets and goals, which won’t change the fact that there have been bushfires or anything like that in Australia”, Morrison told Sydney radio, 2GB.

    What the serious fvck? Does the cvnt not comprehend the rampant destruction of lives, property, flora, fauna and regional economies that’s occuring tight at this very moment that was predicted some 11 years ago? These regional economies are now trashed you sack of sh1t and you don’t give a fvck because you’re protecting the coal lobby come hell or high water. The most deficient human to ever occupy the office of Prime Minister.

    • Mining BoganMEMBER

      Want to get angrier? I’d missed this from a month ago.

      https://ministers.dss.gov.au/media-releases/5401

      No more applying for volunteer grants. No, now a MP has to invite you to apply. Brings a whole new level to pork-barrelling. Betcha the Nelligen firey mob don’t get invited after telling Scummo to get f#cked. Or anyone from Cobargo. Or anyone not a member of or donor to the LNP.

      • Apparently they’re not representative of the rest of the honourable citizens. Especially of the ones related to the local hugs-and-shush-dispenser.

    • But the mothership won’t come if we fiddle with the ***economy*** its the natural order of things [tm] …

    • As long as they can dig up coal, sell it overseas and pay executives to live in inner city compounds – where clean air (for 4 mths a year) is only a shareholder funded plane ticket away – he doesn’t care.
      2000 homes gone. Part of the countries reported capital stock – the only part this empty marketing man cares amount. In macro terms a huge adverse supply shock which has to hurt real GDP. And it is dreadful to reduce it to “economic” terms anyway.

    • Mining BoganMEMBER

      Yeah, but for every one of them they have an arsehat questioning the statistics of animals burnt alive in the fires.

      It’s how they roll.

    • I was gonna say Ms Townsend will need to find a new job soon for not having enough of a go. But she has already quit. So I guess it’s easier to be honest when you’re already on the way out. Shame but it’s similar in most organisations.

    • From my perspective, this goes a long way in confirming what we’ve all suspected about News Corp in being they’re a sh1t organisation who’ll spread lies and deceit so long as it’s a means to an end.

    • When these cvnts do sh1t like this, I’m under no illusion there’s anything noble in their intent. Rather, this is an opportunity to amass data for cross referencing.

    • Mining BoganMEMBER

      So I read through it first thinking the disclosure would be at the bottom. Whole article was a hotchpotch mess. Then I found the disclosure and read it again. Still a mess even when seeing the light.

      Just like reading the Australian it was.

  4. Death of Stalin is about to start on SBS, recommended, interesting to apply it to heaps going on out there ….

  5. AUSTRALIAN BUSHFIRES … OUTSTANDING MAPPING …

    How Australia’s bushfires spread: mapping the east coast fires … Nick Evershed … The Guardian

    https://www.theguardian.com/news/datablog/2019/nov/21/how-australias-bushfires-spread-mapping-the-nsw-and-queensland-fires

    It has been a devastating fire season in Australia, with millions of hectares burned, lives lost and almost 2,000 properties destroyed.

    Long-term drought conditions and record temperatures have combined with strong winds to create catastrophic fire conditions, resulting in widespread devastation in almost every state.

    However, it is hard to grasp the geographic scale and speed with which the fires spread. For example, the Gospers Mountain fires north of Sydney have covered more than 1m hectares, and a record 4.9m hectares have been burnt in New South Wales this season so far. … read more via hyperlink above …
    .
    .
    Australia urges a quarter of a million to flee as winds fan massive bushfires … Reuters / CNBC

    https://www.cnbc.com/2020/01/10/australia-urges-a-quarter-of-a-million-to-flee-as-winds-fan-massive-bushfires.html