Macro Afternoon

See the latest Australian dollar analysis here:

Australian dollar climbs with global stock surge

Asian share markets are again quite mixed with Japanese stocks this time not moving while local shares pull back inline with the Brisbane (and greater QLD?) lockdowns, while Chinese shares surge. Bitcoin remains relatively strong but unchanged above the $57K level while gold is really struggling here after collapsing overnight and is now threatening the $1700USD per ounce level:

The Shanghai Composite is surging again going into the close, currently up 0.5% to 3456 points while the Hang Seng Index is punching even higher, up a solid 1% to 28641 points. Japanese markets however are putting in scratch sessions on the back of comments from Governor Kuroda with the Nikkei 225 closing at the 29388 point level while the USDJPY pair continues to head higher, a smidge away from the 110 handle:

The ASX200 is the worst market again, this time lead down by the Brisbane lockdowns with a near 1% loss, heading back to 6738 points with the Australian dollar edging slightly higher after its tepid start to the trading week, now zeroing in on the mid 76 level but still looking depressed at weekly lows:

Eurostoxx and S&P futures are mixed with the latter up slightly as the four hourly chart of the S&P500 shows price wanting to get back the previous session losses and head through the 4000 point magical barrier which has remained elusive:

The economic calendar ramps up tonight with German inflation, US consumer confidence and house prices.

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Comments

  1. boomengineeringMEMBER

    As per Blokes edition earlier.
    It definitely does cut both ways. Had a Sheila threaten me if I didn’t go out with her. Another, 2 in one day years ago, had to go to to Queensland as president of ANBB for bodybuilding contest and the airhostess stopped me getting off the plane and had to fend her off repeating I’m a married man. Then the Queensland president asked me to share a room at the Coolum resort with a competitor which ended up being a female. That night she stripped off asking me to oil her up. No one would have known you may say but the most important person would have known,
    , me.

  2. If you looked at the market internals for bitcoin – fund outflows, correlated assets (gold, tech) – you would have to conclude bitcoin should be falling. And yet it isn’t.. wonder why?

  3. Wow PowerLedger!
    Forget his/her correct name (Aussie1929 or something). Tipped PowerLedger when it was ~40cents only a few weeks ago. Now at 70cents. Well called.
    I am happy to take most of the credit because I’ve been watching it without owning it.

    • FUDINTHENUDMEMBER

      Mate that’s less than a 100% increase in a few weeks! Which is basically going backwards in crypto land.. You need 5 baggers minimum in that time frame😂

  4. TailorTrashMEMBER

    It’s interesting how language and it’s message to society can change over time …
    …remember the famous King Hit ….ie the big man delivering his dominating best to some unsuspecting innocent ……well when it was recognised for what it was
    it became “the cowards punch ” ….far more appropriate

    So I nominate “Property investment “ (in residential family homes ) as needing change to …. “kiddie stealing property
    investment ) ….. sorry Reusa ……but deep down …..I know you agree

  5. Mining BoganMEMBER

    Been watching the Luna Park fire doco. Seems all those kids who died were just collateral damage in the grab for property.

    Australia never changes.

    • I remember that night very clearly. I was a kid at home in Pyrmont (back when real people lived in Pyrmont) and from our loungeroom window we saw all these flashing red lights going over the Harbour Bridge, and a lot of smoke coming from what we thought was Luna Park. My dad turned the radio on and told us there was a fire going on at Luna Park. We didn’t know at that stage that people had died but from the amount of smoke produced, we knew something awful had happened. I remember the crowds in Sydney for the funeral and as a young boy myself, the death of those 6 young boys and the father really hit home. Terribly sad time.

    • ErmingtonPlumbingMEMBER

      That Abe Safron bloke deserved to be killed by one of those parents.
      Pity none of it came out till now.
      Bloody Neville Wran and Lionel Murphy deserved to cop it in the back of the head too.
      A shameful cover-up.

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