Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

A more solid session across Asian stocks today, as traders await for tonight’s early NFP print due to the long weekend on US markets. The USD was relatively weak with Aussie and Kiwi lifting, and Euro also ready to get out of its funk as the usual undollar volatility awaits.

In mainland China, the Shanghai Composite is surging higher again, now up over 2% to 3090 points while in occupied Hong Kong the Hang Seng Index has returned with a similar move higher, up over 2.2% to 24968 points, almost returning to the former weekly highs throughout June and May:

Japanese stocks were the relative losers in the region, the Nikkei 225 lifting only 0.1% to 22145 points with the USDJPY pair also having a mild session, lifting off the floor after its reversion previously down to the low 107 and now at the mid 107 level:

The ASX200 has sureged well above the 6000 point barrier, lifting over 1.6% to finish at 6033 points in a broad move higher. The Australian dollar edged back above the 69 handle again in a mild uptick, continuing its mid week rally going into tonight’s NFP print:

Eurostoxx futures are flat while S&P futures are slowly building higher with the four hourly chart showing how price has pushed through overhead resistance and ready to get back to the 3150 point level that has been weekly resistance:

Latest posts by Chris Becker (see all)


  1. call me ArtieMEMBER

    Australia planning to offer safe-haven to Hong Kong residents

    That should please China

    Have to say it’s probably the right thing to do, those HK’ers are a genuine go-getting bunch, probably an asset, probably happy to assimilate, no sarc intended

    EDIT: possibly except for their robber baron property moguls. We wouldn’t be taking them would we?…oh

    • Yeah those HKers know how to rig a property casino in the favour of the few..

    • ErmingtonPlumbingMEMBER

      I like my Cantonese speaking regulars they have proven themselves to be good Aussies in my View.

      • I agree, because they hate the CCP as much as us. But I am not sure if they will make our society more dog eat dog… remains to be seen..

    • Will be interesting to see if China wants to let them out or would rather bleed them off to the re-education camps.

    • The only question I have for our PM is why? Why are HK persecuted peoples any different from the others in other countries? No one I know wants any immigration, refugee or otherwise. Have enough poverty, sadness etc to go around without adding to it. I know this is an alright Jack attitude, call me racist. We can’t keep cutting up the pie to give everyone a crust

      • Note the difference in how the government and media treated calls for deeply persecuted White South Africans farmers to be offered refugee status. There is very deep racism in Australia, in government and the media, and (Aboriginal inequities aside) it is directed solely at the interests of those that make up a majority in this nation, and those that look like them.

      • Didn’t I also hear somewhere that Scomo also wants to welcome 1 million displaced Rohingya ? like path to citizenship type help? surely they’re in slightly more urgent need than wealthy Honkers … #Surely

        • So what’s in the national interest? Not often you have a bunch of entrepreneurial well educated folk looking to come.
          Good to see UK is stepping up given China’s gross breach of its 1997 treaty, assuming China allows the people to leave.
          Given language, education, first world skills, you’d take the Hong Kongers ahead of the Rohinga as an easier fit and more likely successful migrants into Australia. Subject to the usual screening that applies to every foreigner that comes here …

          • I’d argue that the Rohingya are equally likely to assimilate into Australia as HK Chinese…. my point is what’s the point in jumping to the aid of one displaced people when there are hundreds of examples of displaced peoples all over the world that Australia doesn’t so much as even entertain the idea of bringing here to live out their lives… its knee-jerk stuff from our jerk PM. policy on the fly without any thought or planning, reacting to sentiment and cherry-picking parts that might assist with Australia’s federal government’s ambitions to prevent house prices falling so they can get themselves re-elected at the next election.


    Live Coronavirus latest news: UK travel quarantine rules ‘not worth it’, says Tory MP … UK Telegraph

    … extract …

    Air bridges shelved as holidaymakers cleared for take-off to 75 countries
    Individual air bridges will be effectively abandoned by the Government, as it emerged that as many as 75 countries will be on the first quarantine exemption list for British holidaymakers, our reporters write.

    The list, to be published on Thursday or Friday, will lift the Foreign Office ban on non-essential travel to nearly all EU destinations, the British territories including Bermuda and Gibraltar, and Turkey, Thailand, Australia and New Zealand.

    All 75 have been judged sufficiently low risk destinations for holidaymakers based on the prevalence of Covid-19, that their infection rate is in decline and that their data on the state of the disease can be trusted. … read more via hyperlink above …

    • call me ArtieMEMBER

      I think I am right in believing that the UK has the highest population proportionate death rate from CV infection in the world?

      Logical, then, that there isn’t anything much for them to lose from opening their own borders

  3. TailorTrashMEMBER

    i Assume that cartoon is referring to the batbug
    ……or am I missing it ……and the message in the tree ?
    ….not quite getting it ?

    • ErmingtonPlumbingMEMBER

      Scott Morrison is a straight up enemy of all working people in this country.
      If you don’t understand this your either straight up ignorant or a Just a Cnvt.

      • bolstroodMEMBER

        It’s the true nature of the alternative that gives pause for reflection.

      • Ermo speaks the truth here, clearly and succinctly.

        Sally and Albo and those other wankers have betrayed the people mate. Blokes like you give me hope. Solidarity brother.

        • That said, I agree that ScoMo is pushing too hard to wrap up JobKeeper. I know its burning cash faster than a space program but a full bounce back requires a vaccine and people having confidence that their world is not going to be pulled to a halt due to an outbreak. As things stand right now consumer confidence is shot. ScoMo has had a good crisis but if he removes the crutches he provided while we are still on them then he is going to go from chocolates to stale Saladas really quick. And if he is any kind of retail politician then he has to know that. He could call it MyJobKeeper … closer to the mark.

    • SnappedUpSavvyMEMBER

      lol welders, machinists, receptionists… why are there people walking around industrial areas handing out resumes then. Which lobby group did the survey to just coincidentally back up morons claim

      And truck drivers!!!! There are thousands of Indians looking for truck driving work

      • Not that they have licences or know how to drive. They just want to work as truck murderers drivers.

      • truthisfashionable

        I have family in transport.

        The need for truck drivers is people who can not only drive a b double forwards, but actually ‘do the needful’ and safely reverse a few hundred grand worth of truck onto the dock so that the cargo can get on or off.

        • haroldusMEMBER

          Just idly wondering if for larger docks it would be useful to have a system like big harbours do and have a “pilot” – a BDouble expert to do all the reversing while the drivers go off for a dump and some ice.

          • truthisfashionable

            I’ve heard that some of the older guys waiting for retirement are doing just that.
            Cruising around in the forklift and then parking the bdoubles for the guys who apparently can’t safely do that, after they had just hurtled down the freeway to the warehouse.. hmm best not think of that.

    • I am not sure what list you looked at but the one in the article is full of jobs needing a bare minimum of training.
      They are also jobs which pay more than the increased JobSeeker allowance but not so much more you could probably be bothered getting out of bed early and travelling to work for and paying a teeny weeny bit of tax.

    • Skippy is on to it…

      Let’s look at the list…

      1. Child carers

      2. Metal fabricators and welders

      3. Truck drivers

      4. Receptionists

      5. Managers

      6. Retail sales assistants

      7. Metal fitters and machinists

      8. Motor mechanics

      Cut out #1, #4, #5 #6 (no future in that)…

      You’re left with very Blue Collar hard work..

      I’ve been helping my friend restore cars (very casual) but the pay is a pittance compared to working in IT.

      But I also looked at a few mechanics jobs on Seek etc.. and I noticed many advertising in the $50-$60k range. A performance shop down Cranbourne way, looked like an interesting job, but $60k for a qualified mechanic with a few years experience and own tools? Geez, not asking much.. Working on cars is hard work at the best of times. Not sure they are offering enough money for what is expected… my 2 cents..

  4. Ukraine fnMEMBER

    Hey Chris you could use the art work for Australia and piglet can be Victoria and the rest can be the other states LOL

    • TailorTrashMEMBER

      Read and have in my library two wonderful books on the glorious past of the British Empire

      Tales from the Dark Continent….( East and West Africa )
      Tales from the South China Seas ( long before China claimed it )

      Think a book on
      Tales from the property continent
      might be a good read in the future …..

    • Some respect, he did the right thing, sold and didn’t try and push the tenants who sound like they’re stuffed too. Meanwhile, there’s some typical sociopathic specufestors in the comments.

      • CanuckDownUnder

        Agreed. I know the agent would say anything to get a sale but it’s interesting that everyone they dealt with seems to think a crash is a certainty now.

  5. A mate told me today that Australia’s response to Corona Virus is like the Spice Girls, everyone is doing their best but Victoria keeps stuffing up.

    • The Traveling Wilbur

      And Sporty keeps stopping and starting every 5-minutes and loosing track of which venue she’s supposed to turn up at.

      That second one being partly Victoria’s fault.

    • C.M.BurnsMEMBER

      Ross Noble said that joke on the project a few nights ago. He called it the “Spice Girls paradigm”

    • It looked kinda calm to me. But fmd I think there are a lot of angry and frustrated people in Melbourne atm

        • Quite possibly. I’ve had some very interesting poolside conversations since work re-opened

          • Mining BoganMEMBER

            Me too, and I’m leading conversations in that direction. The majority of folk seem to relax then and let it all out. There’s truckloads who hate what their city has become.

            Still like their high house prices but. It’s all that gives their lives any meaning.

          • Mining BoganMEMBER

            Every third world city Is divided. For reference have a look at Sydney.

        • I think there is a lot of resentment towards more recently arrived groups. If it turns out they are responsible for this outbreak then I think social cohesion in Hellbourne is gonna take a nose dive and it will be everyone who arrived before 2000 against the responsible groups who arrived afterwards. Kinda sad but as everyone seems to be saying ‘it is what is’. There appears to be zero sympathy for the language barrier explanation for not knowing what the rules were/are and not following them (hey someone in those communities speaks English, they should have spread the word, and it’s not like information on how not to get infected isn’t available somewhere on the internet somewhere in the world in their language).

          • You’d learn the rules pretty dam quick in whatever sh1thole country they came from. Here in Australia, we make apologies and excuses for ignorance.

          • What is good in life to crush your enemys see them driven before you and to hear lamentations of their women

          • Yeah how hard is it work out that bonking the inmates may not be Covid protocol. Don’t need a language warning or interpretation for that.

        • haroldusMEMBER

          Hey can we have a combined STREET TALK!!! With Poppy and Mining Bogan this weekend?

    • Rowan McKenzie

      Immigration Act of 1965, less than a decade later wages start to drop off. There’s your explanation.

      • Ronin8317MEMBER

        Leaving the gold standard to enable import from Japan have more to do with it.

  6. Ronin8317MEMBER

    77 new cases in Melbourne today : we should hit over 100 soon.

    The world-wide standard for releasing someone who tested positive to COVID-19 from quarantine is 2 negative test, ‘Not showing symptom’ doesn’t work because as survivor of COVID-19 tells you, it will get better, then get really really bad. No wonder Melbourne is a basket-case right now, they can’t even get the fundamental right.

    Also, Vic Road website crashed due to the number of people wanting to change their address to somewhere outside the quarantine zone.

    Wuhan-style lockdown is the only way to go.

    • Rowan McKenzie

      The rest of the planet, and Australia, will face the same issues. As soon as a few infected slip through, all of your ‘hard work’ lockdowns are wasted. The only way out is herd immunity. Do you think if a vaccine came tomorrow everyone would get it, and then renew it annually? COVID will remain a ‘threat’ until a high enough % have antibodies.

      USA has cases, but they are not symptomatic. There are currently no excess deaths in the USA, hospitals remain with sufficient capacity.

      Its pretty clear from the UK and Swedish experience that you can let the virus rip and still have plenty of leftover hospital capacity. The original Imperial College research proposed lockdown on the basis we wouldn’t have any capacity, so that report and thus the suppression justification is bunk.

  7. Ronin8317MEMBER

    The quality of the graduate at Harvard must be pretty bad now. I’m surprised she is not in jail : it’s a felony in a lot of states in USA.

  8. There has been ubi perpetual any 1 who works for government is subsidised m00r0ns

    So whilst you all contemplate the insanity of share markets right now and other assets that seem to bleed money.. consider the costs to maintain a McLaren F1.. and yet some greater fool is willing to pay more for it.. than the last guy.. it literally makes no sense..