Macro Afternoon

See the latest Australian dollar analysis here:

Macro Morning

Asia stocks have put on a mixed rebound to the reversal on Wall Street overnight as the USD is firming slightly against all the majors except Yen and Chinese Yuan as Euro and Pound Sterling remain relatively stable. Bitcoin just get out of the hole its dug all week, briefly dipping down to a new intrasession low just above the $52K level before rebounding another $2K in typical low-volatile (sic) fashion but still putting in a new daily low:

Chinese markets are trying to rebound with the Shanghai Composite closing 0.2% lower to 3465 points while the Hang Seng Index managed to close 0.5% higher at 28767 points. Japanese markets put in the biggest bounce however, with the Nikkei 225 lifting more than 2% to close at 29188 points while the USDJPY pair continues to drop, now below the 108 handle proper for a new weekly low:

The ASX200 put on the runs, finishing 0.8% higher to be back above the 7000 point barrier, closing at 7055 points while the Australian dollar is stabilising somewhat, heading back above the mid 77 level after bouncing off the 77 handle mid week:

Eurostoxx and S&P futures are bouncing as well, with the four hourly chart of the S&P500 setting up for a breakout back above the previous record high, but momentum is not yet overbought so this could still be a wing price wanting to find some sort of bottom around the 4100 point level after crashing through previous trailing ATR support at 4130 points and cleaving that beautiful stairway to heaven in half:

The economic calendar will focus squarely on the ECB meeting and the following press conference followed by the latest US initial jobless claims.

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Comments

  1. The Travelling Albatross

    Proof he’s alive 😄😄https://www.macrobusiness.com.au/2021/04/alan-tudge-smacks-down-international-education-lobby/#comment-4107695

    • happy valleyMEMBER

      And Captain Phil salivating at the prospect to go NIRP to get that AUD back down.

  2. Mining BoganMEMBER

    America.

    Wh!te cop shoots black girl about to stab another black girl in the face.
    LeBron James says wh!te cop should be offed.
    LeBron James followers are split 50-50.

    Clown world.

  3. (Repost from the other article)

    The Australian house prices are tightly connected to the universe expansion.

    NASA and ARSĒ (https://spaceaustralia.com.au/) are working cooperatively to prove the existence of a fundamental particle responsible for this seemingly strange connection. The Crediton, also known as ‘God Lowe’s Abozon particle’ is believed to be uniquely responsible for the Australian house prices expansion, although its existence has been thoroughly denied by RBA ground research.

    So far, the ARSĒ scientists have determined the spin of the particle: positive, yet its other identification properties are largely unknown: its origins, its mass, its decay, and under what circumstances it behaves like a wave, thus perceived by the Australian public as “more like the vibe of it”

    • PalimpsestMEMBER

      Neither a wave nor a particle, just all spin. Another great Australian achievement.

      • Arthur Schopenhauer

        Generally measured in ‘Rate of Renovations’, from which it is possible to derive the ‘Flip Oscillation’, and then finally deduce the overall velocity of a ‘Spin’ particle.

        The velocity of ‘Spin’ has only been observed as positive value, however some heretics have hypothesized that it could become negative under special circumstances.

  4. happy valleyMEMBER

    I have reached the point of whenever I see any federal LNP pollie talking on TV, I RALOL. Today, I had to suffer ScoMo, Josh Rainbowberg, Angus (we always deliver on our emissions targets) Taylor and the Prime Minimal for Women.

    • TailorTrashMEMBER

      30% less from India
      Why 30% ? ….why not 0% ?

      I can see a disaster for straya this winter

      • The Travelling Albatross

        Agree, the population is very vulnerable due to lack of vaccination and no what so ever herd immunity
        This pandemic if anything like
        the Spanish flu it’ll be worst toward the end of this year

        • People are fatigued from caring anymore sadly, but my step dad has been going through chemo and my brother we think has had viral meningitis this week (I thought it was covid-19) but his health has suffered ever since he had a car accident 12 years ago and so I’d imagine covid would really impact him. Despite the fact he’s only 34.

      • Yes. The public transport in brisneyland is chocked. Once it hits a full train of commuters the surge will come.

        Im concerned for the next few months.

      • Frank DrebinMEMBER

        It’s ok, we are keeping out the 30% of punters who have the virus.

        The other 70% are squeaky clean !.

  5. Mining BoganMEMBER

    So the Member for Manila is quitting. Lazy slob like him doesn’t just walk away from graft and corruption.

    What do you reckon is in the photos?

      • Arthur Schopenhauer

        Said the same. Household nodded sagely. 🥰

        Or there was the procurement of rent-boy services for a parliamentarian story that briefly shon a few months ago, before disappearing into the news cycle. Could be any one of them though.

        • The Traveling Wilbur

          I would have picked that second sentence as having been: Alexa announced the reservation had been made but there was a problem completing the booking with the pre-stored credit card details. Would you like to use a different card or payment method to complete the transaction?

      • You know that the Romans cared not where or with what one put it …. distinction was based on who was doing the putting … and with it – where – the masculinity resided …

        • ErmingtonPlumbingMEMBER

          Ya could have just gone with,
          “Any hole is a goal” Skip.
          But as usual you had to make yourself sound all professorial and book learned about the manly penchant for,…sticking it in.

          • In a poor area in which I grew up known as a jail release island . One said ‘i ain’t a maggot but I sure have mucked a few’

          • There is a lot more nuance to it than that EP, completely different mind set, your views ignore those distinctions and with them the facts.