Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Asian share markets are generally lower in line with the selloff of tech stocks on Wall Street overnight with only Chinese shares advancing. The USD remains under pressure while Treasury yields are starting to climb again as a slightly risk off mood emerges. Bitcoin continues to suffer from its weekend gap lower, making a new low below the $55K level, having lost more than $6K since  Turkey banned cryptocurrency transactions:

The Shanghai Composite is slightly, climbing a little over 0.21% going into the close, currently at 3486 points while the Hang Seng Index is putting in a scratch session to close only a handful of points higher at 29115. Japanese markets continue their struggle against a much stronger Yen, with the Nikkei 225 falling nearly 2% to be at 29100 points while the USDJPY pair recovered ever so slightly this afternoon but remains at a new weekly low:

The ASX200 also can’t gain ground as its own domestic currency woes continues with the bourse losing 0.7% to almost fall below the 7000 point barrier, while the Australian dollar soars higher, almost hitting the 78 handle in the wake of stronger commodity prices and the lower USD, making a new weekly and monthly high:

Eurostoxx and S&P futures are falling slightly, down around 0.2% with the four hourly chart of the S&P500 showing price wanting to stay just above that stairway to heaven line and hold fast above trailing ATR support at the 4130 level:

The economic calendar includes UK unemployment and the latest US Redbook.

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Comments

  1. In other news: onthehouse has truly turned to sh**t … can’t see the sold for history anymore, it’s just useless, another websh*te hawking aggregated RE ads…

  2. DXY… https://gyazo.com/32458591ad1c60f1c2272569821b3304

    and Suicide… A supermarket and several streets have been locked down south of Brisbane as police attempt to deal with an unfolding situation – https://www.news.com.au/national/queensland/crime/woodridge-streets-foodworks-locked-down-as-qld-police-address-unfolding-incident/news-story/61321b6343bb60a2861a07a43c594101

    Organised Crime Syndicates in Gold Coast ( probably linked to NSW ) – Womans mother killed and then the daughter. Probably going after the family and killing them one at a time – https://www.news.com.au/national/queensland/crime/gold-coast-police-investigating-sudden-death-in-arundel/news-story/eb17b803b323ab69007e3d34fe0fc4dd

    Oh well… thats how everything is now.

    • The fed broke it. Now, they own it.MEMBER

      Saturday 7 August is the earliest date. Works out nicely as the final 2 weeks of the election campaign would overlap with the Olympics providing a distraction.

  3. The mRNA vaccines seem to have their own set of problems…….myocarditis

    https://twitter.com/EricTopol/status/1384133568004169734

    So, it looks like overall, as far as can be seen through the heavy obsfucation by govs. of the reporting systems, that deaths and complications from Covid vaccines are about 100 times as prevalent as for the flu vaccines. I will wait for the dead virus ones.

    https://www.nakedcapitalism.com/2021/04/the-cdcs-vaers-and-vaccine-complications-the-system-is-broken.html

    • The money shot …

      There were basically 20 vaccine deaths for the influenza virus in the 2020 year. If you look back for the past dozen years or so – that is right in line – a few dozen reports each year. Other sources tell me that approximately 130,000,000 doses of influenza vaccine were given in the year 2020. This too is not accurate – but is basically in line with previous years – even a bit higher than usual – there was a huge push if you recall to vaccinate everyone with the flu shot – thinking it would be a co-morbidity with COVID.

      So the flu shot ( a good control cohort for another respiratory virus vaccine ) had deaths of about 20 in a dosing cohort of 130,000,000 making that ratio – 1 death in 6.5 million vaccine doses.

      It is difficult to know where to cut off the COVID vaccine – because it is an ongoing process – so as of today – the VAERS is up to date as of APRIL 2. As of that day – the best info I can find is that 179,000,000 doses of COVID vaccine had been given around that date. And as of that date in VAERS we have 2700 or so vaccine related death reports. That is 1 death in 66296 vaccine administrations.

      The COVID ratio for reported deaths/vaccine administered to the 2020 flu shot season with reported deaths is right at 98.

      That is a startling differential. It is certainly not 100% accurate – but it is a very severe variance from a normal well-known vaccine like the flu shot. As I have indicated in the piece – the system is way behind, who knows what all is being processed at this time. – snip

      https://www.nakedcapitalism.com/2021/04/the-cdcs-vaers-and-vaccine-complications-the-system-is-broken.html#comment-3537609

    • I would also point out what some call Science today is little more than IP procurement to profit from and not advancing human knowledge – see the book Science Mart.

  4. TailorTrashMEMBER

    Serious question from one lacking in scientific
    understanding……

    How does a helicopter drone work on mars if there is no air ( as we know it ) on the planet ?

    • Mars has a very thin atmosphere…that’s why the sky is blue. A very efficient device can apparently generate enough lift to fly.

        • Arthur Schopenhauer

          As long as you can supply enough oxygen In your space gun to ignite the bullet’s propellant. Mars’ atmosphere is mostly CO2, with some Nitrogen and Argon.

        • Arthur Schopenhauer

          Censored for spambot:
          As long as you can supply enough oxygen In your space blaster to ignite the projectile’s propellant. Mars’ atmosphere is 95% CO2, with some Nitrogen and Argon

        • Certainly. Caseless ammo is entirely self contained. You could fire a rifle while floating in outer space. Dealing with the rotational acceleration generated by the recoil would be an interesting challenge though.

      • How does one collect their crypto after it has gone to Mars? And also, will there be lambos on Mars to collect when getting the crypto?

      • ErmingtonPlumbingMEMBER

        At an altitude of 50 kilometres (31 mi) above the Venerian surface, the environment is the most Earth-like in the Solar System – a pressure of approximately 1 atm or 1000 hPa and temperatures in the 0 to 50 °C range.

        This being the case I say Go long tesla dirigibles.
        Elon is bound to start making them soon.

        • Arthur Schopenhauer

          I’m sure you know that storm was fictional device, and one of the few parts of the book not particularly accurate re: physics.

          (Unlike Total Recall, which was spot on! 😉)

    • I hear exit fees for notional price of a prosecuted future into USD fiat can take a bite out of expectations[tm] …..

    • Arthur Schopenhauer

      Getting very gently grilled in a DFA way. “So, where does accountability lie with metrics..”, after the good senator blames Public Servants for not counting housing in CPI.

      Amazing ability to talk out of both sides of his mouth.