Macro Afternoon

See the latest Australian dollar analysis here:

Australian dollar roars with iron ore

Kayaking in the Cook Islands, 2019: Photo by H. Becker

Record death tolls from coronavirus in the US is putting a dampener on risk spirits with most Asian stock markets in retreat or treading water as currency traders await tonight’s ECB meeting. Bitcoin is slowly deflating again, down below the $18400 level, while gold is trying to get back on track after its steep falls overnight, currently treading water at the $1840USD per ounce level:

The Shanghai Composite is starting to build some positive momentum going into the close, currently up 0.3% to 3383 points while in Hong Kong the Hang Seng Index has again gone the other way, down nearly 0.4% to 26405 points. Japanese stock markets are putting in scratch sessions with the Nikkei 225 finishing where it started while the USDJPY pair is again trying to push higher to get back above trailing ATR resistance at the 104.40 level:

The ASX200 was the worst in the region, down 0.6% to take back all of the previous session’s gain to finish back below the 6700 point level while the Australian dollar has lifted strongly again, almost matching its previous overnight high at the 74.70 level:

Eurostoxx and S&P futures are trying to push higher again with the four hourly chart of the S&P500 shows a weak attempt so far to clawback the losses from last night with momentum still negative:

The economic calendar includes the latest ECB meeting and interest rate decision, followed by the latest US CPI print and initial jobless claims.

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Comments

  1. ErmingtonPlumbingMEMBER

    I knew it wasn’t “Wokeness” that had all of these Plutocrats embracing unfettered mass immigration.

    Here is the proof,

    “Leaked internal documents from Amazon-owned Whole Foods reveal the company rates their stores using a “diversity index” and determined the threat of unionization is “higher” at stores with “lower diversity.”

    http://www.informationliberation.com/?id=61403

      • Pretty good for determining strongest Vs weakest horse for fastest ride…… & who’s reacting to whom. Rebasing start off an obvious swing point gives the clearest piccie – not always as clear if they haven’t all zagged at the same time like they did in March. But, still instructive…..

  2. P0rn0 for Pyrotes

    My friends says
    We’re doing ourselves in
    Much faster
    Than the dinosaurs ever did…

  3. I’m a loser position so I can fight everyone. A couple of months ago I walked into Bourke st copshop, knelt on the ground, put my hands behind my head and asked them to shoot me in the head.

    All it got me was strapped to gurney in Royal Melbourne ED waiting for a psych eval nurse who laughed.

    Thanks Andews. Thanks everyone. Thanks for cumming

  4. happy valleyMEMBER

    So, apparently Scotty The Impaler sent the Strayan people his prayers today. I’ll pass, on my gift from him.

  5. Missus has gone out and left a few bits and bobs for dinner. Including some Woolworths “Bake at Home” Multigrain rolls……………… I checked the baking guide and then noticed where they were made…… ffs …. Made in France. I suppose that’s 10000% better than “Made in China” but surely they can source Aussie bread rolls.
    The bloody carbon footprint just to bring them over must be huuuuugeeee.

      • They should be made to do community service at a remote aboriginal community. Better to learn from real life than do one of those mickey mouse cultural sensitivity online courses that seem to be all the rage with big corporates these days.

  6. As far as I can tell Gunnamatta is still waiting to see his wife and daughter.

    Go at me all you want but what’s wrong with this picture?

    • Can’t imagine it in Australia!!!!

      Maybe they should stop voting for parties that support immigration …. oh wait …

  7. Hustler
    Word he pulled the Pres
    Game long,
    Grit my court
    Spray that every
    Challenge gone,
    Got Rudi got
    Bang!
    Another Sars-Cov-2
    Drop

  8. NSW hotel quarantine is still completely screwed up.

    Just had a chat with my friend who works at Qantas, and is now working at a COVID-19 hotel. He worked at a floor where people who tested positive to COVID-19 is staying, but didn’t know about it until afterward. @[email protected] W.T.F.???

    While it is a good thing they have surveillance cameras everywhere, it is a bad thing that people who have very little trainings are working on ‘hot floors’. It should be the nurses doing the actual delivery of the food trays in full PPE : everyone else should stop at the edge of the elevators. Only trained professionals should be working on an infected floor.

    Anyone who uses public transport in Sydney, please wear a mask, because he certainly didn’t. >_<