Macro Afternoon

See the latest Australian dollar analysis here:

Which Asian countries are currency manipulators? All of ’em

Asian stocks have tried to follow the rebound from overnight markets, but have failed across the region, with this relief rally seemingly short lived. The March RBA meeting resulted in no change with the Aussie still depressed following its big reversal last week as other major currencies remain under the thumb of a stronger USD in the wake of the bond rout.  Bitcoin has re-engaged after a weak start to the trading week, now pushing back up toward the $50K level with last week’s intrasession resistance at $51K the area to watch ahead:

The Shanghai Composite is down over 1.3% going into the close, currently at 3503 points while the Hang Seng Index is following in kind, down currently by 0.7% to 29242 points, as it fails to gain any momentum. Japanese markets are reversing the hardest, showing a lot of internal volatility with the Nikkei 225 about to close 0.9% lower at 29389 points while the USDJPY pair is still climbing higher, continuing its way up towards the 107 handle:

The ASX200 is the least affected, down only 0.4% to 6762 points, not helped by a deer in the headlights RBA, as the Australian dollar begins to rollover on its dead cat bounce, currently at the mid 77 level as momentum remains against it:

Eurostoxx and S&P futures are pulling down in line with Asian stocks going into the European opening session with the four hourly chart of the S&P500 showing an inabilty to breach the downtrend line from the early February lows with last week’s intrasession high above 3900 points proving powerful resistance:

The economic calendar is again full of flavour tonight, with German unemployment and EZ wide inflation figures dominating.

Latest posts by Chris Becker (see all)

Comments

  1. reusachtigeMEMBER

    So the bits washing up on beaches are just from random people. Normal.

    And asking if you can kiss someone? I haven’t asked for a kiss since high school and I’m pashing girls and the like all the time. Like they say, if you have to ask…

  2. The technology enabled and covid accelerated era of rapid dispersal and decentralization …

    … as increasingly, people no longer go to work … but work goes to people …

    … Who’s dumb enough to pay (and debt – finance) bubble value for urban real estate now (background information http://www.PerformanceUrbanPlanning.org ) ? …

    Superstar Cities Are in Trouble … OPINION Derek Thompson … The Atlantic
    … google search title if blocked …
    … h/t PH …

    https://www.theatlantic.com/ideas/archive/2021/02/remote-work-revolution/617842/

    The past year has offered a glimpse of the nowhere-everywhere future of work, and it isn’t optimistic for big cities. … read more via hyperlink above …

    Zoom Rockets Higher After Smashing Expectations, Guides To Another Blowout Quarter … Zerohedge

    https://www.zerohedge.com/markets/zoom-rockets-higher-after-smashing-expectations-guides-another-blowout-quarter

    The New New Normal VIDEO … David Levinson … University of Sydney / Transportist

    https://transportist.org/2020/11/03/the-new-new-normal-mobility-and-activity-in-the-after-times/

    • The Travelling Albatross

      the police closed the investigation in nsw…seems sfm heading for another holiday without worry

      • Not in the MB comments section, he isn’t. Things like evidence and due process are mere bagatelles to be tossed aside especially if you don’t like the accused.

        • migtronixMEMBER

          Oh yes! The only thing worse than tyranny is black people voting 🤷‍♂️

          • The Traveling Wilbur

            And also Dew process? Amirite?

            Honestly… perspective… sum… Maybelline?

    • Arthur Schopenhauer

      The Murdoch Press are impotent against the blast on Facebook & Twitter. Never seen anything like it.

      Turnbull’s playing a good game angling for a coronial inquest, or more.

    • Well he’s had a few days to road test his story with focus groups while trying to scrub whatever incriminating g evidence there is on the inter web.

      • Arthur Schopenhauer

        Everything scrubbed seems to focus on the 1988 Sydney Debating competition.

        Really kind of dumb. The sort of thing you might do if?

        • Maybe trying to scrub the evidence that he was in Sydney at the time? The photo of the two of them would seem to put paid to that (plus maybe evidence that he was drinking under age). He can’t deny he knew her – he can probably deny they had sex with her and will obviously deny he had anything other than consensual sex with her.

          But the creep’s obviously got a past – he will need to make sure he gets his lines perfect because there will be any number of people will to call him out if they have evidence that he’s lying about anything.

          • Turnbulls point about wanting to know if he knew of the complaint and when is incredibly important

    • The Traveling Wilbur

      Can we do 20 questions? on this topic now.

      Would it just be easier for them to declare on the interests register? Not a jk. The concept of a relations register would just simplify this, Barnaby and even Labor matters now that I think about it. If for no other reason than to take the steam out of the counterproductive neverending and mostly pointless media vitriol.

      • The Traveling Wilbur

        Kodachrome They give us those nice bright colors They give us the greens of summers Makes you think all the world’s a sunny day, oh yeah

        • The Traveling Wilbur

          Yes. And no.
          Imagine a world where if you didn’t publicly declare voluntarily what you were relating the night before, that if it came to light involuntarily later, it would immediately be looked upon with suspicion. By everyone.

          You know, like choppering to a venue…

          In a way it’s only about relations.

      • Mining BoganMEMBER

        Barnaby said today there should be an independent inquiry into current rapey matters, but in his defence he was all het up and it was late afternoon so a fair chance he was sloshed. He was debating a darkie too which wouldn’t have made his thinking any clearer.

        That’s how much he hates Scummo. Probably couldn’t give a toss about Porter but I’d guess very few in government now would. Liabilities become pariahs very quickly in Canberra.

        *waves at Joel Monaghan*

    • The cabinet minister has also sought legal advice on defamation after days of claims about him on social media

  3. Porter did it

    I wonder if other victims will come forward now. Doubt it’s the first and last rape victim.

  4. It was Porter

    “Clarence Thomas
    November 9, 2020 at 10:12 pm
    When one of the blokes that may or may not have been mentioned on a particular programme first came into politics I heard some very interesting (alleged) things about what he got up to in his early 20’s. Used to hang outside the ladies room at a particular nightclub targetting chicks that were so drunk they could barely walk. Real sexual predator kind of stuff hunting his prey.

    All alleged of course, and they may or may not have been on a particular programme because I haven’t watched it yet.

    Makes my skin crawl whenever his mug has been on TV.”

    Now you have:

    https://www.news.com.au/national/politics/photo-emerges-of-alleged-rape-victim-and-minister-on-night-of-claimed-incident/news-story/b4cec5893213beea0d67967075284bbf

    ““I did this repeatedly by saying ‘Please don’t make me’ and ‘No, I don’t want to.’

    After she vomited on her dress she said the man put her in the bath. She said that she then woke to him raping her. She claims the only thing she remembers when he was raping her was that he said “I don’t want to get you pregnant”.”

    Almost like a pattern of behaviour.

    You’d have to imagine there are dozens of victims out there. This is all alleged of course.

    • The Traveling Wilbur

      Last rotten apple left floating in the barrel [with plenty left below the waterline]

      Would be my only note for the author.

  5. The three (or more) scenarios being focus group tested right now:

    i. Nothing to see here, move on (the fallback Murdnews/LNP/IPA positions)
    ii. He thought she said yes, but!
    iii. He was only a young immature boy then. We do not want to ruin the career of the greatest jurist Oz will ever see!
    iv. Add your own.

    MB will handle the Book.

    • The Traveling Wilbur

      Lordie. Having to explain this is truly depressing. The play that’s about to be run from the “Rich and powerful accused of doing something years ago by someone whom no ones knows” is play number 2b (section 1, part iii).

      The *only* reason it has taken this long is the wait to announce there won’t be any further investigation by the NSWP/AFP (as the potential complainant is deceased and never filed a formal complaint).

      The *only* thing being debated re the content in the forthcoming statement was the number of times to mention that the complainant (potential) is now deceased.

      That’s it.
      So every time you saw SFM ‘struggling’ to answer a question in front of the media for the last few days and looking constipated whilst doing so, remember, you were being played.

      *Waves at ASIO*
      (nice bloke/ttes, but need to get out more)

    • What stands out about this is the support network that this lady had, and who are willing to keep pursuing this. That is what will wear the institutions around the accused down, or at least make them seen vulnerable. She has people that can’t be dismissed and won’t let this be forgotten. They are also people who know the system and the process. They can play the game and understand what is required to overcome institutional trickery and inertia.

      • The Traveling Wilbur

        Sorry footsie, but no. She would need to have been a shining beacon of something or other to have held up in the public sphere (in this country) as rational/believable and that’s assuming she was still with us. And if she had been that, then that would have been all over the media already. So they can try, but there will not be traction. Not now.

      • My thoughts too. Also, the form of the alleged perp. There’s a plethora of evidence that he is scum. Private school entitlement exposed. This is the most disgusted I have felt about any of our sometimes disgusting governments ever.

    • Ronin8317MEMBER

      In NSW, getting a woman drunk and have your way with her is not a crime if you have expensive lawyers. (see Lazarus).

  6. Joe Arblaster

    To think some of the menial stuff people have been banned on here for and yet migtronix spams the place up with incoherent (drunken?) drivel… MB has gone to the dogs

  7. https://www.youtube.com/watch?v=TDCdUgXAoC4
    mogul keeper
    we’ve had jobkeeper we’ve had jobseeker
    we’ve even had
    dobkeeper hashtag on twitter and now
    we’ve got
    mogul keeper this is the government’s
    absolutely astonishingly
    bizarre policy to prop up its canberra
    bubble media mates
    heading into the next election a hundred
    million payments from google
    to nine news river murdoch’s news
    corporation
    guardian australia and one or two others
    but guess who’s paying for this
    it’s not google it’s you
    the public will pay for this because
    google and facebook are simply going to
    claim it
    as a business tax deduction as they
    should
    now normally that will be paid for on
    the other side but of course rupert
    murdoch
    doesn’t pay tax as we’ve reported
    six years of ato transparency data for
    news australia holdings limited his
    flagship company in australia
    zero tax billions of dollars of income
    because rubric doesn’t pay tax you will
    be paying for it
    the biggest regulatory challenge for all
    governments around the world is to rein
    in surveillance capitalism
    google and facebook the encroaching
    insidious control
    they have over everybody’s lives because
    they’re so dominant
    huge monopolies they affect behavior
    they affect elections
    that will only grow that is the nature
    of surveillance capitalism it will grow
    unless it’s restrained
    these media laws do nothing to address
    that
    absolutely critical global problem what
    they do do is just pass a little bit of
    money from google
    to rupert murdoch and a few others and
    you
    because of the tax deductions being
    claimed by google and facebook
    and the service fees which they will add
    you will be paying for it
    we’ve got a story up by giles parkinson
    the editor of renew economy
    the story is that he applied to get
    jobkeeper
    and whereas the propaganda machines the
    canberra bubble operators have all got
    job keeper
    he’s in the energy and climate space
    real reporting
    having to address the mayhem which
    arises from news corporations reporting
    of climate and climate denialism
    giles has been doing this for five or
    ten years he’s got a large audience
    he tells the truth it’s truly
    independent journalism
    guess what he goes to get on google’s
    new showcase to get financed by this
    marvelous world-first government scheme
    they send him a one-line email from
    google in singapore
    saying that they’re only interested in
    public interest journalism
    so to recap nothing for public interest
    journalism
    an avalanche of propaganda financed by
    google which will be
    financed by you as the taxpayer because
    google will merely claim tax deductions
    murdoch won’t be paying for the other
    end or the abc if they do the deal
    because they don’t pay tax
    and no policy at all to
    to address the really critical challenge
    globally which is surveillance
    capitalism which are the power
    of google and facebook the unrestrained
    power
    nothing just the money for murdoch
    and other morrison media mates that is
    it labor and the greens voted for it as
    well
    the entire parliament are so scared of
    rupert murdoch
    or they just don’t know how the internet
    works
    that’s how this bill was passed

  8. MathiasMEMBER

    Is it just me or has everyone become a Youtubing Economist lately?
    ( No, I do not run my own Youtube Channel as I have issues with Websites farming all your data. A little thing called Privacy ).

    It seems like everyone who doesnt have a job has become a Youtuber Video streamer.

    I’ve noticed Martin Norths viewership seems down a lot lately. 500 likes. People must be getting sick of him.
    https://gyazo.com/28278d2d72841927ff32e94a5ee372e4?token=b1b2175ce138d93a420c8ae0ea0a5c71

    This woman sits on her a$$ all day and does cat videos. 246,000 likes ha ha.
    https://www.youtube.com/watch?v=m384NEQZwfA

    So in conclusion, Cat Videos are more interesting then Martin North lol.

    I guess being Pro-China doesnt pay, hey Martin?

    • The Traveling Wilbur

      He is, as they say in this country, having a go.

      Maybe you can too?
      Or buy some cats.

      • MathiasMEMBER

        ” as they say in this country ” rofl. Another migrant telling a native aussie how to live there life.

        I’d tell you how to go live yours but you might not like my answer.

        Sounds like Martin North has a migrant following? I guess when your true love is money, he does appeal to someone after all.

        My guess is when the Chinese couldnt buy his influence anymore, he lost a major segment of his audience.

        • The Traveling Wilbur

          Nope. Reminding you how ‘Aussies’ judge the kind of thing you chose to comment on.

          Nope. Couldn’t care less what you told me.

          Wouldn’t know, couldn’t care less what the demographics of his following are.

          As I said, don’t care what you want to tell, or guesstimate, me.

          #wannatrollsomemore
          #bored
          #bye

          • Yeah so sorry. I was just born here.

            Please tell me how I can go about making your life more pleasurable in the Country of my Birth?

            Im used to taking it up the a$$ on a daily basis. My entire generation takes it up the a$$ from the Boomers on an almost daily basis so its just another day for me. I am genuinely interested to hear what advice a migrant has to give me about how better to live my own life, in the Country of my own Birth. Im sure you have a lot of wisdom to share with me.

            So please… lets hear it ;p Dont hold back now.

            Im sure a migrants loyalty supercedes that of any Australian ( at least until the pot of money runs out ).

          • Lets see…

            Australia spy chief warns of “unprecedented” foreign espionage threat – https://www.reuters.com/article/us-australia-security-idUSKCN20I1CY

            Australian F-35 fighter jet data stolen in ‘extensive’ hack – https://www.bbc.com/news/world-australia-41590614

            Fears private details of Defence Force members compromised in database hack – https://www.abc.net.au/news/2020-03-04/australian-defence-military-database-shut-down-amid-hack-fears/12021742

            There are two crimes happening in Australia as we speak. The first crime is that the Australian Government is so corrupt that its betraying the Australian people and selling us all out for the nearest dollar.

            The second crime is that migrants coming to Australia are constantly bullying the native population in an act of arrogance. Not only is there arrogance so blindsighted that they treat Australians with disdain like they are the scum of the earth but we are so weak, that many are just turning this Country into there own Country within a Country. Classic examples are China Town and any moment Australians visit these places, they are bullied in there own Country by people who shouldnt of been here in the first place.

            Not only is the Liberal Government failing in its duty to protect Australian Citizens but its willfully allowing Australians to be bullied by foreign migrants in a lovely game of Globalisation.

            Its also a fact that Native Born Australians are more Loyal to there own Country then a Country changing Dual-Citizen because lets face it… Where do those Aussies have to go? If Australia is not there home then where is? While these Dual-Citizens straddle between Countrys showing loyalty to wherever the money heads, its Native Born Aussies who are left holding the bag when all these Migrants feast off all the wealth and then bugger off the moment it disappears. They are only here for the money whereas for the Native Aussies, this is there home.

            If you think that as a Native Born Australian, Im going to allow myself to be bullied by some idiot who migrated here and wants to throw his weight around, then think again. Call me whatever label you wish but I’ll tell you what I call it… Not putting up with peoples crap.

            I believe the Bible once said, ” He who lives by the sword, dies by the sword “.

            If Wilbur wants to tell me what to do, then he should be fully prepared to accept that Im about to tell him what to do. If he doesnt like that, then maybe he should think twice before he tries to Bully an Australian.

            Just because our Governments an a$$ doesnt mean Australians have to cop crap on a daily basis. Unfortunately, we do. I dont blame Wilbur for the Australian Government but I do blame him for his attitude. Keep it up and he will see my attitude.

            I dont care what lies the Australian Government spins you migrants… Im telling you how it is from an Australian. You bully me in my own Country and I’ll be bullying you 🙂 I certainly wouldnt be going to your Country, pretending I own the damn thing and treating your citizens like crap so why do you think its fine for you to come here and to do that to us? Seriously? Your going to argue with me the justifications of your behaviour? Bring it on.

          • 6 months ago I said to myself, ” I bet Martin North isnt even Australian. He looks like he’s from the UK or something. ”

            When John Adams said, ” Martins a dual citizen of UK and Australia “, I just laughed my head off and nearly spat my coffee out on the table. Now, how did I guess that?

            Im really not surprised that guys only in it for the money. The whole thing just makes so much sense to me now.

            Yeah… I apologise that I am getting a little vocal but Im seriously getting fed up with it.

            Im getting sick and tired of living in a Country where the Government isnt even on our side anymore. The Government is betraying Australians on an almost daily basis and in retaliation, I have a bunch of filthy migrants telling me how to think in my own Country of Birth.

            I wouldnt consider myself associated to any Far-Right Wing Extremist cults but Im sorry, I am getting really sick of it.

            Im an Australian. The Australian Government is betraying its own people. The Australian Government is as much a Terrorist as half the Migrants they bring here. I dont know how much clearer I can say those words. I wouldnt call myself an angry person ordinarily but my anger is definitely growing by each passing day.

        • haroldusMEMBER

          Hey Mathias

          I think that Wilbs, while extremely annoying, is local born.
          Happy to be corrected.

          There are others, more prolix and scat, who are not…..

    • ErmingtonPlumbingMEMBER

      Ive just signed up to Audible 2 weeks ago and I am on to my third Orwell book already, The Road to Wigan Pier, after listening to Homage to Catalonia and Down and out in Paris and London.
      Ive enjoyed immensely working away on my menial plumbing tasks listening to George’s stories.
      A lot of laugh out loud stuff that makes one (Well,…me) proud to be a pleb!

      F k you Reusa.

    • I’ve noticed. Someone on MB here made reference to Dave Lee I’ve been watching his long vids during my sessions alone, trying to get him to walk through Chatswoo with Taiwan and/ or HK independence kit on…that’d be a laugh.

      • haroldusMEMBER

        To be clear nothing, now I am speculating why he brought it up.

        Is he just chucking bombs?

        After I said that someone close to me suggests it’s a mechanism to trigger the (SA?) coroner (?) to investigate the circumstances of the death, rather than the alleged crime.

        • Mining BoganMEMBER

          I think it’s something like that too. I hope it’s something like that. That would explain the tweet from Louise Milligan too.

          It might also encourage others to come forward which Porter clearly does not want hence the defamation lawyer tomorrow. He’s not going to sue and have all the murky details in court. He just wants to scare off any other potential problems.

          Allegedly.

        • bolstroodMEMBER

          Now we know what John Howard meant when he called the Liberal Party a Broad Church.
          They sure act like one.

  9. China’s Focus on Bubble Risks Is a Warning Sign for Stock Market … Bloomberg

    https://www.bloomberg.com/news/articles/2021-03-02/china-s-focus-on-bubble-risks-is-a-warning-sign-for-stock-market

    … extract …

    … Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and Party secretary of the central bank, didn’t mince his words. “From a banking and insurance industry’s perspective, the first step is to reduce the high leverage within the financial system,” Guo said at a briefing in Beijing. Speculation in the property market is “very dangerous” and bubbles in U.S. and European financial markets may soon burst, he said.

    “His talk shows a willingness to tolerate higher rates,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management in Hong Kong. “This is a confirmation of monetary-policy stance tightening. That’s important.” … read more via hyperlink above …