Macro Afternoon

See the latest Australian dollar analysis here:

Australian dollar climbs with global stock surge

Asian share markets have started the trading week in mixed fashion with today’s session seeing most markets pulling back and only Japanese stocks advancing. Bitcoin gapped higher, continuing its Friday session bounce to almost punch through the $55K level  but still remains in a weekly downtrend after rebuffing the $60K level:

The Shanghai Composite is up slightly going into the close, currently up 0.3% to 3430 points while the Hang Seng Index is moving along the other way, down 0.3% to 28228 points. Japanese markets are putting in some nominal gains, but only just with the Nikkei 225 closing nearly 0.2% higher at the 29222 point level while the USDJPY pair has pulled back as expected, currently just below the 109.50 level after breaking out significantly on early Friday but getting way ahead of itself:

The ASX200 is the worst off, down by 0.4% to be just below the 6800 point level with the Australian dollar not doing anything at all as it starts the trading week, barely moving along above the 76 handle and still on its weekly downtrend too:

Eurostoxx and S&P futures are pulling back in line with Asian shares, with the four hourly chart of the S&P500 showing price wanting to pull back from Friday night’s record session high level as the 4000 point magical barrier remains elusive:

The economic calendar starts the trading week in a quiet mood, with only some Treasury auctions to keep an eye out for tonight.

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    • The only good thing that I can see happening at the moment is Morrison’s disdain for the press is getting them upset enough to go after and keep at him. It’s not much, and doesn’t solve any of the actual problems yet it might end up with him, and the Government, actually being made to justify themselves.

      • Mining BoganMEMBER

        I watched that press conference today. Coorey and Uhlmann asked their usual government prepared Scummo-safe questions to try to distract but both times the other journos dragged the discussion back on point. Coorey was p!ssed off!

        The general take from Scummo is once you’re elected you can’t resign because your election was the people’s will. Rape, murder, whatever…if you’ve been elected you can’t be removed because the people voted you in.

        That actually speaks volumes of their government. Anything goes.

    Published on Mar 20, 2021
    On this episode Mark Blyth talks with Albena Azmanova, IWM Visiting Fellow at the Institute for Human Studies in Vienna and author of ‘Capitalism on Edge: How Fighting Precarity Can Achieve Radical Change Without Crisis or Utopia’. In the book, Albena explains how precarity (not inequality) is the central driver of our current political, economic, and social woes.

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