Macro Afternoon

See the latest Australian dollar analysis here:

Australian dollar climbs with global stock surge

Asian share markets have ignored the good lead from Wall Street overnight and have continued their very mixed start to the trading week with Chinese equities selling off fast in the wake of the US/Allied sanctions, while Japanese and local markets tread water.  Bitcoin is really struggling here going into the European session with another session low on the four hourly chart broadcasting more downside to follow with last week’s intrasession low at the $53K level not far away:

The Shanghai Composite is down over 1% going into the close, currently at 3409 points as it takes back all of the previous gains while the Hang Seng Index is following in suit, down 1.1% to 28545 points. Japanese markets however are holding fast with the Nikkei 225 currently looking at a scratch session after losing 2% yesterday, hovering at the 29161 point level  as the USDJPY pair continues to oscillate around the high 108s as momentum points to a possible breakdown soon:

The ASX200 is also putting in a scratch session, down just one point to be at 6751 points while the Australian dollar has failed to recover it gap down position from the start of the week, now hovering just above the 77 handle and looking sketchy going into the European open:

Eurostoxx and S&P futures are nominally flat so far, with the four hourly chart of the S&P500 showing price wanting to stop truly breakout above the key 3900 point psychological level with last night’s fill barely holding here as momentum readings remain negative:

The economic calendar includes the latest UK unemployment figures, plus a series of US Fed official speeches, including Chair Powell’s testimony to Congress.

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Comments

  1. boomengineeringMEMBER

    Getting a Intel core i510400 1 16gbddr 4 Cprsai RAM 3000mhz, 2tb sad 550 Corsair pus, antec ps case running OEM Windows 10 pro.

    • No idea what that is Boom but be careful if you venture out early – I swam into a pallet this morning (luckily just smashed my thumb FKN)

      • boomengineeringMEMBER

        Kudos for getting out. Used to surf Deadmans before sewage pipe extended in storms they used to open up for raw effluent close by. Refuse to swim/surf in pollution these days.
        Please be careful.
        Above phone distorting my post 1tb ssd 550

    • Does the motherboard offer a slot for a M.2 NVMe SSD because the boot and other features are manifold quicker – nil lagg. Does not have to be pricey or a monster and its best to sort it on a new comp rather than have to migrate later on, less chance of dramas.

      • @Rodney below

        I don’t think boom will be doing anything that requires more threads working all at the same time on multiple functions.

    • I’d get AMD 3600 with 32GB RAM. More cores and RAM helps with chrome tabs, but it requires graphics card.

  2. Mining BoganMEMBER

    So, the Prime Minister of Australia invented a rape case just to score points against a journo nobody heard of.

    Sumthin wrong wit dat boy.

    • What, what what? He did what? Man. That’s the action of someone who isn’t used to getting called out and suitably reprimanded for lying.

      • happy valleyMEMBER

        I’m beginning to wonder who he (and many of his LNP pollie colleagues) wouldn’t throw under a bus?

          • Individual successes within the party IMO, although Flexians are adapt at flitting around all spheres …. see this is Scomo’s sin … failure – too deliver – for his backers and dragging the brand image down. In the old days one would just fall on their sword for the team and then get a cushy job in the private sector. Although now days it seems some would rather go Panamamanian because they are high on their own supply.

            The drama is the LNP supply line seems to be only stocked with even more rabid fundies due to increased ridged indoctrination over the years and a bad hangover from all the Howard years E.g. basically its all down hill from here for that party.

          • don’t you find this gnashing of teeth a little irritating when the corruption, hollowness and dishonesty of the current government was on full display during the last election campaign circus when client journalism got ScoMo elected and managed to convince everyone that Shorten was equally as untrustworthy – oh and remember Labor was going to sell us out to China!

            I just get the sense. What’s the point? with journalism the way it is, governments get decided during the campaign. Whether they were good at governing before that is irrelevant.

          • Yet sweeper that is exactly why they are turning on scumo, so they don’t get splatter all over them because they stood tall when the timing was right …

  3. The Travelling Albatross

    Martin North and DLS think the housing market will be rising….buyers be aware the contrarian indicators are flashing

    • boomengineeringMEMBER

      Lol, those indicators are here as well.
      Ps left you a little addition story on the 9.40am edition.

        • boomengineeringMEMBER

          He’s the guy sailing the Sydney to Hobart every year. Think nothing of yelling profanities in front of women and children and abusing anyone who crossed his path.

          • The Travelling Albatross

            Ahh I thought the name might be familiar, he deserves to have daily massive sun burns!!
            Pr¥k of a human!

  4. Canberra, 23 March, 2021

    A controversial plan to allow domestic violence survivors fleeing abusive relationships to access thousands of dollars from their superannuation accounts is no longer federal government policy.

    A press release from the Prime Minister’s office stated that withdrawing funds superannuation was no longer considered appropriate policy.

    According to government sources, super was deemed too precious an economic resource to be withdrawn early, with some stating that Morrison described it as a “neoliberal temple” that should “not be desecrated by women, regardless of their circumstance.”

    Since scrapping the policy, a new initiative was put before parliament, where women who were victims of rape or domestic violence would be permitted to register for access to a Federal programme allowing them to sell off unwanted children, or if they were without dependents, provide spare organs to a donation scheme with payments received in a type of biological reverse-mortgage.

    Liberal party backbenchers have welcomed the proposal and suggested the scope be expanded to include those on any sort of welfare payment and individuals with Centrelink or tax debts.

    More to come.

    • The Travelling Albatross

      How dare they to access super funds for hardship and DV??? It’s only to buy toys and house deposits!!
      Thus spoken ZarathustraMorrissin

  5. FUDINTHENUDMEMBER

    Lolllll scummo lashing out at newscorp. Don’t bite the hand that feeds you ya Muppet. He’s gone ahahahaha what a colossal sh1tshow

    • The Traveling Wilbur

      The only way Rupes EVER supports Albo (i.e. him specifically) is if Albo kisses Rupe’s ring.

      I hope I never see Rupes supporting Albo. (one of the few pollies I’d like to have a beer with)

      • FUDINTHENUDMEMBER

        Yeh I have a soft spot for albo. Always turned up to the Reclink footy cup in Melbourne in colours supporting the cause and smashing a few brews. Genuine. Unlike some fckers.

      • Not albo, but some other liberal muppet, scummo gone before the next election is my guess.

        • The Traveling Wilbur

          oh. Small l. That took me a while. Very droll sir.

          Pardon me but I was distracted by your ‘help’ earlier this morning. And the fact that most liberal muppets I know are bald, purple, usually appear on the ABC and have someone else’s hand up their butt.

          Some of them even appear on Channel 22.

    • Arthur Schopenhauer

      Jacking off bad, especially in a Minister’s office. Raping not really an issue, in a Minister’s office.

      Has the internet located the alleged rapist yet? In Texas?

      If the Minister(?) was really that concerned she would move to the cross bench.

  6. News reporting on the March 10 report from the U.S. National Intelligence Council on “Foreign Threats to the 2020 U.S. Federal Elections” has amplified, often uncritically, its claims of interference perpetrated by the usual cast of supposed U.S. enemies—Russia, Iran, Venezuela, etc. Apparently this report has been issued long enough after the Most Secure Election in History for people to forget that they were jubilantly informed that the election of Biden took place under the most pristine of circumstances.

    According to the always-trustworthy intelligence agencies, fearsome troll farms and wicked foreign adversaries have created in Americans a perception that Biden engaged in corruption in Ukraine, and that Trump’s killing of Soleimani was not a good thing—conclusions that good, patriotic Americans could never have reached without the illicit coaxing of Vladimir Putin. The report, served with plenty of instances of “probably” and “likely” along with a heaping helping of “we judge,” admits on its last page that “Judgments are not intended to imply that we have proof that shows something to be a fact.”

    Meanwhile, social media monopolies, pushed by Congress and cheered on by representatives of the failing legacy media, are censoring viewpoints and acting out true interference in the election decision-making process.

    And a March 17 report from the Center for Responsive Politics (which runs OpenSecrets.org) reveals a much greater source of undercover activity in elections—dark money, which reached $1 billion in the 2020 election. Following the Citizens United case, Super PACs, nonprofits, and other corporate entities have been engaged in increasing levels of largely unregulated (and unreported) political speech.

    According to the report, “Biden’s presidential bid attracted around $174 million in support from anonymous donors, more than six times the $25.2 million in dark money contributions and spending boosting President Donald Trump.”

    Reflecting on the coverage of the two reports, released within a week of each other, Alan Macleod concludes his MintPress article, “This disparity in coverage between the two reports suggests that, while unapproved foreign interference is a major scandal, corporations and the ultra-wealthy essentially buying elections is simply (big) business as usual.”

      • The Travelling Albatross

        Indeed … indeed….
        Man how do you come up with
        those great one-liners?

        • The larger part is how that occurred in the first place E.g. a complete Mfg line from Education to Judiciary and Politics to arrive at that conclusion, one IMO that gets right down to the frame worked used to interpret the Constitution from previous conclusions E.g. Corporatist.

    • What’s Gladys Liu paying? Sure, her background is a bit iffy. However, Morrison got fired from two jobs under mysterious circumstances and rigged his preselection. He was still thought to be upstanding enough.

    • The Incomparable Mr Flannery

      Spicey!

      Porter and Reynolds will fall under a bus soon and the scrote will be pushed

      When will the night of the long knives be?! I think soon

      Joshie has got this wrapped up I reckon I could live with Hunt as long as it’s not Dutton

      • happy valleyMEMBER

        OMG – a Stephen Bradbury from him again – based on the NEG which in part sank Turnbull, he should never have got where he is. Basically, he’s the only remotely clean skin in the LP. We are rooned?

    • happy valleyMEMBER

      Apparently not well liked in the Victorian LP and was part of lead in the saddlebags of Dutton’s run at PM in 2018.

    • No way! Not once footage emerges of him fingering his pu$$y to a picture of Peta Credlin’s d!ck.

  7. SnappedUpSavvyMEMBER

    Love how psychopaths like scummo fall back to old ways like hiding behind family when returned from Hawaii

    • in reality it was probably a 35 year project where the first 20 years was spent ingraining the notion of permanent real wage increases into workers minds.

  8. The Traveling Wilbur

    The AirTasker CEO rang the bell on the stock exchange floor today.

    P1llock should have used his own App and paid some random already on the floor to do it for him.
    Juge opportunity missed.

  9. “So I can’t rape AND I can’t jack off?? If it’s supposed to stay in my pants all the time, why the hell put a zipper there?!” Parliamentary staffer, probably.

    • Know IdeaMEMBER

      If that is a conundrum, then he – presumably! – should spend a little more quality time outside the Minister’s office.

  10. migtronixMEMBER

    You don’t understand! I’m constantly surrounded by all these annoying chicks. There’s this old bird that won’t shut up and about her dead old man, then there’s fvcken mopey – if only she was a dwarf, Christ.
    And no sh!t mate, every time I’m fvcken trying to relax with a photoop these two little sh!ts pop up. I don’t even know their names!

    Seriously mate, give a bloke a go – shielas.

    *sniffles*

    • The Traveling Wilbur

      Ouch. Yes it is. Reamed.

      So bad I reckon someone’s going to have to ask Jen whether or not now is the time to redeem some of those Thomas Cook traveller’s cheques.

    • ErmingtonPlumbingMEMBER

      The LNP need to bring Abbott back!
      He knew how to make the Captain’s Calls.

      How was this one,

      “Abbott then appointed Joyce as Shadow Finance Minister.

      In February 2010, Joyce as Shadow Finance Minister declared that Australia was “going to hock to our eyeballs to people overseas” and was “getting to a point where we can’t repay it”. This led to a response from the Governor of the Reserve Bank, Glenn Stevens, that he had “yet to meet a finance minister [sic] who has ever mused any possibility about debt default of his own country” and that there were “few things less likely than Australia defaulting on its sovereign debt”.[33]

      Senator Joyce’s time as Shadow Finance Minister was fraught with difficulties which also infamously saw him confusing trillions with billions in his first appearance as Shadow Finance Minister at the National Press Club and became the source of ridicule by the Government.[34]

      There were calls from within the Coalition that Joyce be removed from the Finance portfolio as it was a distraction in their attacks on the Government which was having its own problems with the insulation scheme.

      Joyce lasted as Shadow Finance Minister for three months from December 2009 to March 2010 when Abbott, in a reshuffle, moved him to Regional Development, Infrastructure and Water.[35]”