Macro Afternoon

See the latest Australian dollar analysis here:

Australian dollar climbs with global stock surge

Asian share markets are extremely mixed in today’s session with Japanese stocks rebounding while Chinese shares remain nearly unchanged in response to last night’s selloff in tech stocks on Wall Street. Bitcoin continues to really struggle with another selloff going into the European session with the four hourly chart broadcasting more downside to follow as the $52K level is up next to to be broken:

The Shanghai Composite is hovering with a minor loss at just over 3365 points, still at a new monthly low while the Hang Seng Index is scratching along at the same pace, nearly unchanged at 27928 points. Japanese markets have bounced back on a selloff in Yen with the Nikkei 225 lifting nearly 1% to be back above the 29000 point level while the USDJPY pair has broken out of its funk to almost return above the 109 handle and where it started the week:

The ASX200 is following its Chinese brothers (masters?) by also not moving with a scratch session going into the close at 6778 points while the Australian dollar has stabilised somewhat after its sharp early week falls, but is still struggling to get back above the 76 handle going into the European open:

Eurostoxx and S&P futures are mixed so far, with the four hourly chart of the S&P500 showing price right at last week’s intrasession low just below the key 3900 point psychological level with last night’s selloff broadcasting potentially more falls to come:

The economic calendar includes German consumer confidence and then the 4Q US GDP final print.

Latest posts by Chris Becker (see all)


  1. ErmingtonPlumbingMEMBER

    Speaking of LNP shenanigans,

    My wife and her friend asked me what “having to eat the soggy Sao” ment recently.
    It felt odd explaining it to a couple of middle aged women.

    They were naturally appalled.

    After describing said practice I was immediately asked the question if this kind of act was common behaviour?
    Did I know anyone who had ever done it?

    Well,…I never went to an exclusive boys School,…So No,…I don’t think I know anyone who’s done it. I said
    You’d have to ask someone who went to one of these LNP Leadership camps for future Capitans of industry (exclusive boys schools) to find out how common a rite of passage it really is.
    I reckon it’d have to be about half of em. I continued

    Yuck they Giggled

  2. Not me. If anyone knows what its like to live as a black sheep in this world, I think I would.

    Yeah. So a few woman got [email protected] and there are men who abuse there power. Punish them. We used to so what happened? I’ll accept that. Wearing womans dresses and becoming a person I was not meant to be? Thats a sign of insecurity. We are built by nature. Not some moron in Canberra.

    Power sends people crazy. Clearly we have so many problems now that we are turning ourselves half mad.

    I dont agree with this abolishment of Manly behaviour. The act of destroying men is a form of prejudice in itself.

    First it was the Boomers who wanted all the power. Then it was the Chinese. Now its the Feminists. All I see is a clamouring for power and everyones losing there frickin’ minds.

    You want to solve a problem then lets solve a problem. You mean me to wear a dress then I’ll tell you where Im about to shove that dress… up your [email protected]@ 🙂

    Honestly. It doesnt take a genius to figure out how we ended up here in the first place. Now people think wearing a dress is the way around our problems. Its no wonder we ended up here.

    Power is for the Responsible. Therein lies the irony. Nobody is responsible anymore and everyone wants free power just so they can abuse it.

    • The Travelling Albatross

      your way of talking reminds me of mathias corman, are you angry they sent you to Europe and now you are away from action?

    • ErmingtonPlumbingMEMBER

      Have you ever worn a mini skirt Mathias?

      I’m told it can be very liberating.

      • ErmingtonPlumbingMEMBER

        Im guilty of buying pink toothbrushes for the wife and daughter and other more manly colours for me and the boy.
        Its my hope that none of my comrades in the ALP discover my lack of Wokeness and the personal failure in these gender stereotypeing, hateful and misogynistic purchases

    • Stop being a pussy.

      A defeatest pussy. As a man stand up for yourself and let the younger men know that they need to sign up or hand back their bloke badge.

      Each generation thinks they’re smarter than the former. Social media has magnified this as has boomers refusals to handover the reins to place. In fact the boomers are acting like disgruntled grandparents giving all the toys to the grandkids in a sad attempt at staying relevant and keeping the gainz. I know on here people get upset about boomer bashing , well this is different.

      All the yoof think they are the digital pioneers. What they forget is there was a whole stratum who came before them who had kids during Howard’s baby boom. They’ve been busy raising em now they want the world back.

      I honestly think we are starting to see peak woke, as people who bought in previous ly, are turning ages who are smart enough to know better, and as such the woke turns on themk.

      Say goodbye to woke and hello bloke.

  3. Worthwhile of a repost from the international student article earlier on Macro. The bloke that died in his car in the flood was an international student en route to his “dream job” driving trucks. Why do we let students work here? The uber eats drivers that died were all foreign students and now this bloke.

    Removing working rights from international students will literally save lives.

    March 25, 2021 at 2:32 pm

    It’s a human tragedy, however it leaves an open question : Why is a software engineering graduate working his ‘dream job’ as a truck driver? If that’s what our university is offering, then isn’t the degree a complete farce?


    March 25, 2021 at 6:03 pm
    Glad you posted that. I had the same questions.

    • boomengineeringMEMBER

      Didn’t you know, Kellogs Corn Flakes packets have degrees on the inside for any International students. Criteria being they have to purchase it.

  4. I’ll be honest, I hate real life.

    I sit on my computer, hooked into my mates and doing all the fun stuff I could ever possibly imagine. Its wonderful. I really enjoy it.

    The moment I step away from the computer and enter the real world, its depressing. Boomers talking about death. Young people talking about death. Nobody with a future. No hope.

    While kids are suiciding, the Country whinges and lives in denial. Nobody cares. Its just another body in a cemetary. We sit here and consume our time with such trivial sh*t like feminism and wearing a dress.

    There once was a day when we had a problem and we’d try to find a solution to the problem. The problem is stubborness, arrogance and corruption is now so terrible that Feminism is more important then kids being lowered into a cemetary.

    Talk about suicide and all we care about is Housing Valuations. Thats the reality of Australia today. A compassionless society that doesnt give a toss about anyone but themselves… while we spend our days wasting our time talking about Feminism… knowing full well that a Female Workforce will do very little.

    I mean, yeah… whatever. If you guys think Feminism is the hope Australia needs then lets do it. We just had 20 years of high house prices that wiped out the young and destroyed the business sector of this Country. We might as well spend the next 20 years and destroy Marriages too.

    Adam Smath taxes Property. Kaarl Marx taxes Relationships ( Marriages ).

    The young have lost houses. The young have lost marriage. It cant get much worse from here ;p

    Australia should do itself a favour and hand out free Cyanide tablets because on the rate we are going, I find it hard to believe that Suicide Rates in this Country are as low as the statistics pretend it to be.

    We are looking for ways to make more money and the money just isnt there.

    • boomengineeringMEMBER

      Nothing that a world war wouldn’t fix.
      A consequence of a too easy life for humanity.
      Take all the bad germs out of your body and you’re dead within hours as the good germs become delinquent and attack your cells. Take the predators out of the rain forest and the system implodes.
      Its just nature doing its job.
      Remember the rat utopia experiment where 1/ population explosion 2/ all moved into high rise 3/ the females became more dominant 4/ males kicked out onto streets,5/ more males became homosexual. 6/ no more breeding 7/ no more rats

    • migtronixMEMBER

      What’s the connection between suicide and feminism? You can’t live yourself unless you earn more than women?

      • boomengineeringMEMBER

        Throughout history males have been the hunters females the gatherers. Tamper with nature at your own peril.

          • boomengineeringMEMBER

            True as welding jobs become easier, safer with PPE and lifting equipment and OH&S, more women are able to fill this traditional male hard yakka jobs.
            Oh your statement, good question, what is natural?
            Realized many years ago no such thing as natural bodybuilding because animals don’t lift weights scientifically. Males have always tried to impress the other half by enhanced aesthetic though.

        • So, Boom, all those wimmin in WWII building aeroplanes, ships and munitions were? What? Deviants? Unnatural? Imaginary? Seriously p!ssed off when the boys came home and took their jobs away???

          • boomengineeringMEMBER

            Was president Aust Natural Body Building and always knew to ask myself what is natural anyhow ? In our case for us it just meant anybody natural or un natural who didn’t take steroids HGH or similar, performance enhancing drugs.

    • You sound a bit like a guy who worked for a client of mine 15 years ago or so. He hated real life so much, he spent all his time away from work building up his world in Second Life (as did his missus, I couldn’t quite imagine them at the kitchen table with a computer each, but hey…) and at work went on and on about his achievements there.
      Funnily enough, his name came up a few years after I move to the country. He’d left his missus, moved to Thailand where he was living the high life with his ladyboy.
      Careful what you wish for…

      • lol. I’d given up on (what I thought were) effective responses to his drivel, I think you may have finally done it.

    • “The Upper Hunter MP identified himself as the man at the centre of the allegations after Deputy Premier John Barilaro called to confront him amid speculation it was Mr Johnsen.” Gee, a touch of chutzpah there, from the scuttlebutt I’ve heard around the traps.

  5. boomengineeringMEMBER×824-resize,extend,r=33,g=40,b=46/1328f0cdd556b8bffdfabd05e76616c0b8dcfb2f58c79db998d48cb4b95bf44c/image3.jpg

    151 Manning Point Road
    Old Bar NSW 2430
    Bedrooms 4 Bathrooms 2 Car Spaces 9
    This property is for sale. View listing
    Monitor local sales and receive updates on the value of your property.
    Property sale history
    September 2009
    May 2008
    April 2001

  6. New Zealand’s housing debacle: Economist Brad Olsen of Infometrics explains the scale of the problem …

    Kiwis need 120 percent pay rise for current house prices to be ‘affordable’, according to analysis … Jenna Lynch … Newshub

    Prime Minister Ardern explains aspects of the governments initiatives …

    Prime Minister Jacinda Ardern has no regrets moving against property investor ‘tax loophole’ … Zane Small … Newshub

    David Hargreaves of Interest Co NZ explains … ‘A full attack on house prices is now underway …’ …

    BNZ economists say the Government is ‘dead set’ on curtailing soaring house prices and will do what it takes – ‘it will almost certainly win in the end’ … David Hargreaves … Interest Co NZ

    • The Travelling Albatross

      when was he in MB i cant recall seeing him, not that im that ancient anyway

      • SnappedUpSavvyMEMBER

        The 3d 1k days were hilarious. Even better then the Chyna troll we have now, actually much better

        • ErmingtonPlumbingMEMBER

          I liked that ChinaBob bloke.
          He used to have some good anecdotes.
          He used to bag out the money I was earning at FMGs Cloudbreak and plumbers hourly rates in general though,…like all the time.
          Mig would join in and gang up on me with him quite a lot.
          That gave me the shytes,…a bit.
          Ive been back from FIFO for just over 7 years now!

          Have I been here at MB for that fken long!
          8 years!?

          How long ago did MB start?

          • Must have been 2010-ish…there were four blogs that became one, from memory.
            MB – “not as good as it used to be”

          • SnappedUpSavvyMEMBER

            China bob / fisho was a good bloke also that other 007 type fella who was an expert on China and finance he is missed although I can’t remember his name so maybe.. not …. so .. much

          • drsmithyMEMBER

            How long ago did MB start?

            July 2010. But the proprietors had their own independent blogs before that.

            (How naive I was, then, thinking the whole thing was going to go tits up within a couple of years at most.)

        • The Travelling Albatross

          Lol that seems lots of laughs..agree chynaaah trolls are boring as.
          Peachy was what though? Gut feeling he’s the fat wolverine (although lots of people thought it was a girl)

          • If it was far Wolverine I’ll eat my hat. Fairly certain Peachy was / is female. There was a blog someone linked to that was Peachy apparently. Slagging off MB lol.

    • Haywood Jablome

      “Alan Jones, 2GB and former MB subscriber/IPA operative 3d have all been plugging Peta Credlin”. At the same time?

    • The Travelling Albatross

      Looking at the graphs in the first link, crash is eminent in the next 3-4 months

  7. Australia won’t follow NZ down housing tax path … Sarah Turner … Australian Financial Review

    … 60% of Kiwis are very concerned about housing … some 22% of Aussies are … latest Ipsos NZ Issues Monitor …

    … with Aussie housing … particularly in the regions … being generally more affordable than Kiwis housing …

    Aussie property looks cheap compared to New Zealand … Leith van Onselen … MacroBusiness Australia