Macro Afternoon

See the latest Australian dollar analysis here:

Macro Morning

Asian share markets are generally moving higher although local stocks are stalling despite a very firm lead from Wall Street on Friday night. Bitcoin suffered a big gap lower to start the week below the $57K mark due to Turkey banning cryptocurrency transactions, but this is likely to be filled as Chinese authorities again suggest it as an alternative to King Dollar:

The Shanghai Composite is up over 1.5% going into the close, currently at 3477 points while the Hang Seng Index is up 0.5% to 29107 points. Japanese markets struggled to find a strong bid, with the Nikkei 225 putting in a scratch session in the wake of a stronger Yen with the USDJPY pair pushed down to the mid 108 level to continue last week’s selloff:

The ASX200 started out strong but only managed to finish a handful of points higher, closing at 7065 points, while the Australian dollar gapped down on the weekend open before rebounding off the 77 handle to get back to its Friday level but watch the mid 77 on:

Eurostoxx and S&P futures are lifting slightly, up around 0.2% with the four hourly chart of the S&P500 showing price wanting to keep pushing well above the 4000 point magical barrier as this stairway to heaven continues unimpeded!

The economic calendar is very light on tonight with a few Treasury auctions and not much else.

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Comments

  1. boomengineeringMEMBER

    wrong spot, ( to quote Ermo ). Very light on any news be it economic or otherwise

    • The Travelling Albatross

      Lol, watch out those plumbers keep saying that to take you away from where they buried the money

    • The great thing about Covid is now that everyone is starting to wake up that China is the enemy of the west. Not everyone yet (we’re looking at you Stan Grant and the ALP!!) but mostly folks are getting the memo.

      • reusachtigeMEMBER

        Falling for the CIA plan hook line and sinker! We have always been at war with China (or Russia, but now always China).

    • Probably the trees fault, they don’t have a good reputation. Always jumping out in front of cars.

      • This is why Constance wants to chop them all down near any road. Trees are also known to catch on fire … very bad things they are.

    • Both passengers were too busy buying Dogecoin and helping pump it up by reading WallStreetBets on their phone. Happens all the time.

    • Two men have died after a Tesla vehicle, which was believed to be operating without anyone in the driver’s seat

      I am having trouble understanding the world today.

      If I try to drive a modern Toyota with someone in the passenger seat, the car is programmed to detect the passenger and chucks a spaz if their seat belt is not fastened.

      Yet I am expected to believe that a Tesla is programmed to barrel down the highway without checking for the presence of a driver.

      I am having trouble understanding the world today.

    • DingwallMEMBER

      Australia is awesome……wait til they scrape the glitter off the AUD and realise it really is poo.

  2. Arthur Schopenhauer

    Listening to ABC Local Drive Time on a long work drive this morning and this afternoon, and the hosts were diligently putting the government position. The listeners weren’t buying it. The LNP are gone.

    • Of course they are going to say that.
      The politburo basically runs the “decentralised” network at this point.

    • The Travelling Albatross

      1000
      that guy (can not remember his name) kept saying every night: did Chris get sacked and i kept answering he is on a break,
      and i heard that he been to few of Reusa’s parties …still wondering what Chris thinks of those parties

    • The Traveling Wilbur

      Interesting… Never thought I’d see the day…

      Glad I don’t have the job of telling any of the locals to butt out.

  3. Scummo in Churchill mode today on how Australia will reach net zero emissions:

    “We will not achieve net zero in the cafes, dinner parties and wine bars of our inner cities.

    “It will not be achieved by taxing our industries that provide livelihoods for millions of Australians off the planet, as our political opponents sort to do, when they were given the chance.

    “It will be achieved by the pioneering entrepreneurialism and innovation of Australia’s industrial workhorses, farmers and scientists.

    “It will be won in places like the Pilbara, the Hunter, Gladstone, Portland, Whyalla, Bell Bay, and the Riverina.

    “In the factories of our regional towns and outer suburbs. In the labs of our best research institutes and scientists.

    “It will be won in our energy sector. In our industrial sector. In our agricultural sector. In our manufacturing sector.

    “This is where the road to net zero is being paved in Australia. And those industries and all who work in them, will reap the benefits of the changes they are making and pioneering.”

    • Mining BoganMEMBER

      Ooohhhh…is that for real? He’s fallen off the Churchill wagon again.

      What came next? Let me guess…carbon capture! Fracking clean gas!

    • Dual purpose, an announcement for the media cycle and to keep what is called the left of his party happy. These comments probably say more about unhappiness in the party room than anything else.