Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

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

A quiet last day of trading before the Christmas break here in Asia with some mild raises across stock markets and low volatility in currency land.  Bitcoin has fallen below the $23000 support level thought, and gold is steady at its start of week trading level at $1875USD per ounce:

The Shanghai Composite is down nearly 0.25% to remain below the 3400 point level, while in Hong Kong the Hang Seng Index has gone the other way to currently be up 0.25% to 26412 points. Japanese stock markets are doing a little bit in a stronger session so far, with the Nikkei 225 gaining 0.5% to be at 26665 points as trading in Yen remains muted, the USDJPY pair still below short term resistance at the 103.80 level and going nowhere:

The ASX200 finished early with a 0.3% rise to 6664 points while the Australian dollar is finding some life and is almost back above the 76 handle and to its start of week trading level and momentum gains on the four hourly chart at least:

Eurostoxx and S&P futures are basically steady and going nowhere with the four hourly chart of the S&P500 wanting to move above the 3700 point level but probably unlikely as we head into the Christmas break:

The economic calendar is empty of course because its Christmas Eve! But there’s bound to be some surprises coming out of the US Congress as they try to wrestle the fat orange pigeon off the chess board and try to pass another stimulus package.

Have a good Christmas, see you all on the other side of the weekend as I keep the lights on here at MB. Cheers!

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Comments

    • Goldstandard1MEMBER

      Sorry, I miss the point of these notes.
      Throughout human history, pandemics and tragedies don’t just cause DIRECT harm and loss of life, but also INDIRECT. Covid is of course no different.
      Naturally any change in society is going to cause many people to be worse off whether it be financially, alcoholism, drug abuse, smoking, gambling or many other negative influences.
      So these numbers shouldn’t surprise anyone. Where I get p!ssed is when people say the lockdowns are causing this and the virus should rip.

  1. Wochenendlesung Bitter

    Where do Australian veterinarians send their bruised koalas for treatment?

    Koala Lumpa.

    • ASIC will be pulled into line very shortly, and insolvent trading will become a permanent feature of the Australian “economy”, along with not paying back your mortgage and not being evicted if you do same.

    • happy valleyMEMBER

      ASIC will not exist shortly once Josh Rainbowberg gets rid of the sheltered workshop that it is?