Macro Afternoon

See the latest Australian dollar analysis here:

Will Bitcoin destroy the US dollar?

Asian stocks are pushing higher today despite the stumble on Wall Street overnight, as risk sentiment reverses yet again despite a temporary reprieve on bond markets and a slightly weaker USD.  Bitcoin is building up again after its previous weak start to the trading week, again pushing back toward the $50K level with last week’s intrasession resistance at $51K the area to watch ahead as the downtrend comes under threat:

The Shanghai Composite is taking back its previous losses, currently up over 1.6% going into the close at 3566 points while the Hang Seng Index is doing even better, up more than 2% at 29733 points. Japanese markets are putting in more modest sessions, with the Nikkei 225 closing 0.5% higher at 29559 points while the USDJPY pair has climbed back from its overnight mild dip, still on its way up towards the 107 handle:

The ASX200 was able to get back above the 6800 points level, rising over 0.8% to 6818 points, while the Australian dollar is stalling again as it blips slightly above the 78 handle, with medium term momentum remains against it:

Eurostoxx and S&P futures are lifting going into the European opening session, the latter up 0.4% so far but the four hourly chart of the S&P500 still shows 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 relatively quiet tonight with some final PMI numbers and central bank speeches.

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Comments

  1. The Traveling Wilbur

    Question: How did an article about Porter outing himself as the target of allegations turn into an MB comment stream about how epically terrible Labor are at, well, everything?

    I swear I could start a thread about how Liberal MPs being flown round the world for furtherance of a career post politics is something that the ATO should legitimately look into if the cost to the tax-payer isn’t declared by the recipient as ‘income’ in a timely manner and the comment stream would end up about nothing but Labor again in minutes.

    • RobotSenseiMEMBER

      I remember Johnny “18%” Howard being as electable as Albanese back in 1996.
      Didn’t turn out too bad for “the true believers” now, did it?

      • The Traveling Wilbur

        As little Johnny said, “You only get one Paul Keating in your lifetime, and I’ve had mine.”.

        Well, he didn’t, but he should have, so I’ve done it for him.

    • Mining BoganMEMBER

      I once saw Bill Shorten get on a plane in Melbourne! Where was he flying to?

      WHERE WAS HE FLYING TO!!??

      • migtronixMEMBER

        This is what the righttards all over the world have been doing since Shrub. How can the loser religion party keep getting back in, in a society that couldn’t be less religious? You lie. To everyone. You pretend to be a christtard here then stick up parliamentary process over there, then pretend to care about the people you’re exploiting while pretending to not care about fine wine and expensive friends.

        When mendacity is the animus it’s difficult suppress in age where big data can give you so much insight into what people are “feeling”..

        Marketing was always a fascist technique.

        In the early 2000s Costello could still say in an interview “I don’t drink beer” and get away with it. Sharkie bogan bozo is all thwy got

    • Now that you mention it, there was a bloke here frequent commentor blamed everything on Labor

          • The Traveling Wilbur

            At the risk of any kind of response being seen as failure of some zen-based kind I can say frankly and forthrightly that I couldn’t say it now, sober, atm, even if my life depends upon it. Forsooth, the player is crook and his shank is quickly ailing. 😷

            PS I’ve grown accustomed to failure in this country so it’s no skin off my knob.

    • SweeperMEMBER

      Exact same thing happened before the last election. That’s why we’ve got these clowns in government.
      Every time Shorten released policies it was dissected, disformed completely misrepresented so that journalism could attack it.
      Meanwhile Morrison had no policies, most of the corruption was already there for people to see, yet he was preferred leader.

      Like asking why Dan is always to blame. Well if Labor isn’t in power federally you have to find the closest substitute.

    • Oh no. You don’t see it. Those damn cultural marxist feminists have got to you to. Back in my day we didn’t have that problem. We had culture. We had Marxists. And, we had feminists. Simpler and better times, if you ask me. We also only let those who had land vote. And we only let chaps of the best sort own land. And how did we know they were a good sort. Why, their father happened to be one. A perfect virtuous circle. Sure, sometimes a good sort could also be a questionable chap. But things needed to be done. And they can only be done by the right fellows. So we just didn’t seek answers to those questions. In fact, we found it much easier to never raise them. And the system worked I tell you, it just worked. Look what you’ve done. I’m all worked up. Back to Goethe. There’s no better balm for the soul than JWvG. I’m a bit ashamed to admit it, but I once indulged in some JCVD. I must stop before this turns into a ruddy confession. Cheerio.

    • drsmithyMEMBER

      Because interest rates will always be higherthings will always be worse under a Labor government.

    • MathiasMEMBER

      Your a migrant who’s come to Australia… and now you want to vote for more Migration. Im not surprised.

  2. High levels of dissatisfaction on almost every axis this afternoon post the press conference.

    But the shrieking overfed women of privilege on twitter intent on making the entire event all about their personal emotions need to STFU. Interesting to see their cognitive dissonance on Shane Dowling, who is both a horrible wh_ite male and at the same time the person who has gone out (alone) further on a limb than anyone on this issue, and generated the pressure that led to Porter fronting the media. The hard core ones have no shame trashing him, despite what he has done. Duplicitous c___s right down to the last.

    • Mining BoganMEMBER

      He was the dude who first outed Shorten’s rape allegation as well. Long and short memories.

      I used to bag him out too before I realised he went after everyone. Rudd and Gillard gave him plenty of ammunition. Still not sure he should have put the dead lady’s name out there though.

    • migtronixMEMBER

      FU! Another pathetic righttard fvckwit that thinks they’re the real victim. Can’t stand you people. I’m disgusted at all the loser private school d!ckweeds screeching their virtue about you can’t complain about rape and w___ pieces of sh!t at the same time so pick one

      🖕🖕

      • Mining BoganMEMBER

        Told youse.

        Probyn plays along pretending he’s neutral until something really big needs covering up, then he swings into action.

        • The Traveling Wilbur

          There’s more than one coworker who thinks the same. The evidence is ‘in the can’ for that already, so no Allegedly required.

          He would have been ropeable when he saw it.
          Score one more for the ABC.

          • The Traveling Wilbur

            Not really. Other than to say evidence of MiBo’s claim and my until then fairly certain similar suppositions (unknowingly of MiBo’s) were confirmed some time back by a broadcast or two involving Mr Probyn.

            All that started me thinking along these lines was his sub-par Insiders performances of several years past. Continually sub-par being the red flag. Those raised questions which have since been answered.

  3. haroldusMEMBER

    MiBo bought up the point the press conference was held at school pickup time.

    Missus and daughter bought a friend home for a play after school and when they came to the gate heard harry with headphones cursing at the computer loudly and expressively.

  4. The Traveling Wilbur

    Liberal MPs being flown round the world for furtherance of a career post politics is something that the ATO should legitimately look into if the cost to the tax-payer isn’t declared by the recipient as ‘income’ in a timely manner. Toats for sure.

    • I agree 👍. This is pure game of mates style corruption.

      Does Scotty think he can just get on the blower to block head if he gets in. Just like he did his chums at his favourite vaccine mob??

  5. reusachtigeMEMBER

    So when is Bill Shorten going to front up to a media conference to answer questions about the severe and extreme [email protected] he allegedly got into according to a lovely innocent lady’s allegations? Fark Labor!

    • Might explain why she encults her LT Crystal ball gazing abilities quite a bit…. She can’t lock the gates mate.

      Also a nice list of possibles to pick through once in the graveyard.

  6. migtronixMEMBER

    “oh noes Mig spams! I can’t get my vital bigotry, supremacy, self congratulatiory wan#fest”

    🖕🖕

  7. MathiasMEMBER

    ” He confirmed that he would not be standing down as Attorney-General, claiming if he was made to do so then there would be “rule of law left” in Australia. ”

    “Based on information provided to NSW Police, there is insufficient admissible evidence to proceed. ”

    Ok… so… he gets away with it.

    “I am going to take a short period of leave to assess and hopefully improve my own mental health,” he said.

    The only tap on the wrist he gets is paid leave.

    https://www.news.com.au/national/politics/attorneygeneral-christian-porter-wont-resign-after-denying-rape-historical-claim/news-story/b356bf8aa19f9b21ce727126088e2be5

    There is no ” Rule of Law ” left in Australia. Not after this.

    No Australian is going to have faith in the Justice System anymore after this.

    • adelaide_economistMEMBER

      The funny thing about manspreading (and I happily admit I saw some stupidly ‘spread’ legs when I used to use public transport) is that in my life – and I’m in my 40s – the most intrusive physical interactions I’ve ever had – whether on public transport or planes etc – have been women. Either elderly who didn’t seem to realise they were hanging over ‘someone elses’ space or those of higher than normal BMI. I guess growing up with the manners instilled in me by my parents and grandparents, I just suffered it and didn’t take photos of it to post in a passive aggressive manner on social media.

    • From what of seen on the interwebs I thought the Berliner ladies were all in on leg spreading

  8. SweeperMEMBER

    People finally cottoning on that when it comes to substance the ABC is right wing.

      • ErmingtonPlumbingMEMBER

        Left Marxists and anarcho syndicalist understand how much of a right-winger Stalin was as they were all having their Democratic worker control of the work place, the foundational principal of Socialism, being destroyed by his RW Authoritarianism in the USSR.
        The end of this clip explains the source of your ignorance.

        https://youtu.be/yQsceZ9skQI

        If your not pro Working class and you endeavour to limit working class Democratic control of their life then you are not a “Left winger”
        Embracing a bunch of post modernist, intersectional hierarchy of victimhood absurdities does not make one Left or Right.
        That shyte is just another propaganda tool, among many, used to divide and conquer the plebs.
        Nothing “Left” about that or the ABC!
        In fact Id argue the ABC has become more of an effective tool of the LNP than the commercial media of late.

      • drsmithyMEMBER

        Knowing what I do of Sweeper, I’m going to say “economically” and “socially” he subscribes more to the view of authoritarian vs libertarian rather than right vs left (though the overlap tends to be pretty high).

      • The Traveling Wilbur

        Depends, on whether it is over the bodies of your victims/oppressors/critics. Or not.

    • migtronixMEMBER

      Makes no difference, they don’t care, they’ll lie.

      Why does lying work? Emotion. Right wing voters are the most weakkneed, shy of their own shadow, nothing nobodies! They crawl through hot coals to get that attaboy. Pathetic

    • It was the first thing I thought of when Porter was talking about the death of the rule of law.

  9. MathiasMEMBER

    So Australias a Country that wants its people to respect “Rule of Law” yet Rape in Parliament goes under the radar and migrants are given higher priority to bully Native Born Australias. I bet respect for “Rule of Law” is going to break down in the not too distant future.

    How long will it be before a Bomb goes off in a major capital city or people start burning down Houses?

    How long will it be before those 40% of Far Right Wing Extremists turn violent and start taking there anger out on Migrants?
    https://www.youtube.com/watch?v=7cNq8lLsoDM

    I dont think its far away now 🙂

    Hackers access personal details of Oxfam Australia charity supporters
    https://www.news.com.au/technology/online/hacking/hackers-access-personal-details-of-oxfam-australia-charity-supporters/news-story/577f658603500ac41086970649b13d8c

    Australian Security is breaking down. Hackers are stealing peoples personal and private information in order to Extort and Blackmail them. They’ll take those Phone numbers, Addresses and Personal Details in an attempt to drain there bank accounts and Extort money from these people. If they cant get it through illicit means, they’ll get some dirt on them and Blackmail them, ” Give us money or we are going to do this to you. We will ( name your threat: kill your wife / shoot your dog / drive by your house and petrol bomb your house ) “. Most likely, we have foreign spys already operating within Australia and they arent being checked.

    Qld Health posts a tweet suggesting, ” We are sick and tired of being bullied. Stop bullying us and let us do our damn jobs. “. Let me guess, NSW is trying to Bully and own Queensland again?
    https://www.news.com.au/national/queensland/news/qld-claims-its-being-picked-on-in-bizarre-health-department-tweet-about-vaccine-rollout/news-story/4ab84034fe97b9d81a4616495d1d885b

    Unusual for Queensland Health to write something like that but speaking as a Queenslander, its further evidence that New South Wales is a Bully who tries to control everyone else, including other States.

    Yep. Its starting to break down. I give it 2 years at most.

    The Liberals are losing control.

    • reusachtigeMEMBER

      Bloke, I thought Steve Keen was farkt up! 😅😂🤣
      Get off the cones hey bloke.

      • I drink the odd beer now and again ( not many because Im too old ). I admit, I do drink lots of coffee. 1-2 cups per day but not often. Trying to cut the habbit and drinking these Cup of Soups lately.

        Other then that, I’ve never touched cones or taken any drugs what-so-ever. I dont even take Aspirin.

        You’ll have to find another reason to defend your house prices at the peril of sending Australia into Civil Chaos.

    • Cynical snake

      How long will it be before a Bomb goes off in a major capital city?

      13 February 1978 in sydney?

  10. New Russian COVID variant on the loose in Queensland – Russia/Chinese Spys in Queensland

    Queenslands under attack by Covert Foreign Forces

    https://www.news.com.au/world/coronavirus/australia/new-russian-covid-variant-on-the-loose-in-queensland/news-story/2c8e97cd4463d5b7118a6df35d777162

    A week ago, I said to someone that when Biden dropped those Bombs on Iran ( one of Chinas allies ), that in a game of tit for tat, we would see a retaliatory attack coming back on Australia ( One of US allies ).

    Well, there it is 🙂

    How does a Russian Variant of Covid end up in Australia? How strange is that? 🙂

    The Liberals are most definitely losing control. What could be a civil uprising forming out of Australians themselves… we are have Foreign Attacks going on in Queensland.

    My guess is we’ve got some kind of Political Interference going on. They are lining themselves up to interfere in the next Political Election.

    Liberals are losing it. Australias Democracy is now being attacked.

  11. So,Linda Reynolds has officially lost the support of the PM with what org of her referring to Brittany Higgins as a “lying cow” being released to the LNP’s pet journos at The Australian.

    • May be I’m a bad person. But when I saw that article this morning I smiled.

      That Reynolds , has got to go.

      Seems like she is collateral damage. All a bit convenient in wait for her resignation….

      This government is illegitimate.. the silence on this fact is deafening

        • Scummo will be betting that she doesn’t have the guts to take him on and put that cushy post political gig in jeopardy.