Macro Afternoon

See the latest Australian dollar analysis here:

Macro Morning

Another mixed day across Asia with the latest BOJ interest rate meeting rattling Japanese stocks somewhat while the USD remains weak against Asian and commodity currencies going into tomorrow night’s Fed meeting. Bitcoin finally made a move this afternoon after stalling overnight as it breaks towards the $55K level in light of Tesla’s investment:

Chinese markets remain in a funk with the Shanghai Composite falling sharply before recovering after the lunch break to close nearly 0.2% lower to 3437 points while the Hang Seng Index put in a scratch session, lifting a few points higher to almost get back above 29000 points. Japanese markets pulled back even sharper however on the BOJ non-decision meeting today with the Nikkei 225 closing 0.4% lower at 28991 points while the USDJPY pair was quite sanguine, slowly lifting above the 108 handle but not yet making a decisive breakout:

The ASX200 again sold off mildly, losing only 0.2% but still finished above the 7000 point barrier at 7033 points, while the Australian dollar tried valiantly to move above the 78 handle but was unchanged as traders get ready for tomorrow’s untimely and late inflation print:

Eurostoxx and S&P futures are up slightly going into the London open, with the four hourly chart of the S&P500 showing price heading to new record highs above the 4170 point level after the recent bounce from trailing ATR support at 4130 points as momentum goes nicely overbought:

The economic calendar has just the one major release to watch carefully tonight – US consumer confidence.

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Comments

  1. migtronixMEMBER

    Oh, sit down, oh, sit down, oh, sit down
    Sit down next to me
    Sit down, down, down, down, down
    In sympathy

  2. Don't Need a Vaccine

    The US rally just doesn’t end. Just can’t bring myself to sell anything.

  3. migtronixMEMBER

    You and me btc ain’t nothing but anathema
    So lets do it like they do on the Commonwealth Bank
    Adverts

  4. migtronixMEMBER

    Done dare any y’all scomotard motherfvckers to step for real!

    Imma kick the fvck outta u

  5. RobotSenseiMEMBER

    Hopefully you earn enough as an IPL cricketer to buy a boat to sail home, because Scotty ain’t coming for ya.

    • darklydrawlMEMBER

      Yes, I read that today and it all seemed rather sensible. I suspect there would be some blowback from the “Income Tax” professionals though. It might kill off a lot of their market.

      • Mining BoganMEMBER

        I heard on the wireless today that 7% of the workforce is employed in unravelling our taxation laws mess. 7%.

        There’s lots of money invested in confusion,

        • Imagine the good that would be done if the tax and the law were cleaned up. All those lawyers and accountants and solicitors could spend their time working on worthwhile things. All the rest of us could get on with life with a bit of extra coin and fewer great hairs. What a wonderful world it could be.