Macro Afternoon

See the latest Australian dollar analysis here:

Macro Morning

Green across the board for stock markets across Asia following last nights FOMC meeting but its all about earnings and record commodity prices as risk sentiment continues to bubble over. A late surge in the USD is seeing some gains on the major pairs come off the boil a little although Yuan is reverting back to its January high against King Dollar. Bitcoin is again decelerating this afternoon after failing to follow through on its midweek breakout, remaining below the overnight $55K level and not yet exceeding last week’s breakdown highs:

Chinese markets saw a strong bid towards the close with the Shanghai Composite lifting by more than 0.5% to finish at 3474 points while the Hang Seng Index finally found some life and closed 0.7% higher to 29277, managing to escape resistance at the 29000 point level. Japanese markets were less confident with the Nikkei 225 only managing a meagre 0.2% lift higher to 29053 points as the USDJPY pair oscillated wildly post the FOMC meeting, bouncing back later this afternoon to almost breach the 109 handle again:

The ASX200 finished 0.25% higher to 7082 points, while the Australian dollar has again rejected overhead resistance at the 78 handle following a post CPI wild swing higher, pushed back to the 77.80 level going into tonights session but still looking bullish here:

Eurostoxx futures are up 0.2% or so while S&P futures are lifting slightly going into the London open, with the four hourly chart of the S&P500 showing price wanting to expand on its recent record highs above the 4180 point level as momentum is pushing into outright overbought stage:

The economic calendar is packed again with German inflation and unemployment, then the latest US GDP print.

Latest posts by Chris Becker (see all)

Comments

  1. 2 more suspected AZ vaccine deaths in Australia. That Would put the total to 3 deaths this year to die of the AZ vaccine with the covid-19 deaths at 1

    • But the TGA sez “evidence on the two men’s deaths did not suggest a “likely association” with the vaccine..”
      Not sure the punters will believe them.

  2. The Travelling Albatross

    A poem for osiris,

    I saw you sharing link after link
    So thought you must be after a drink
    And whispered to the waitress to give you a wink
    She came back to me and said he’s low on Zinc

    • There once was a bloke* named Osiris
      Who spread interesting links like a virus
      he said that “you’d think
      I’d use Twitter to link”
      But at MB i have so many admirers”

      *or chick, whatever

    • The Traveling Wilbur

      A little dirty for harry,

      I once had a bottle, in front of me
      That was raised, often, and not subtly
      Voices chorussed, and single
      Said stop, now, or you and I shall not mingle
      But, h3ll, no, I shall never undergo your frontal, lobotamy.

  3. Super serious ASIO talk in Canberra – https://www.abc.net.au/news/2021-04-29/asio-anticipate-terrorist-attack-right-wing-islamic-within-year/100103546

    while Australian Politicians Masterbate in Federal Parliament:
    https://www.abc.net.au/news/2021-04-29/police-report-made-over-desk-masturbation-scandal/100105650

    ” Six men have now been formally accused of taking part in sex acts. Two are current Coalition staff members, two are former staff members, including the man who was sacked, and two others are not involved in politics. ”

    ” The Canberra man and the former staffer met on gay dating app Grindr nearly a decade ago ”

    Ok. So these people are telling Australians what to do.

    • Young Mig, bloody hell lad…whats up? Your a good lad, so knock this bloody palaver off…
      You need to take some time off, jump in a car , get out of that city for a break…come over to S.A ….get out in the country, and just breathe…
      You are an intelligent lad, but we all need to take a deep breath sometimes, turn your face to the sun, close your eyes and just feel….I feel you son….

  4. Obviously not endorsing such action but you have to admit, how great would a little purge be? All those twitterati types who responded to peoples rightful complaints with slander and smears. All the bureaucrats who intentionally produced treasonous policies separate from the democratic process. All the corrupt profiteers selling out our institutions….
    https://www.france24.com/en/france/20210428-ex-generals-spark-backlash-as-they-warn-of-civil-war-in-france

  5. I love Deutsche Bank. Christian Sewing did not let me down. They managed to stay clear of the Archegos implosion and, all in all, are moving in the right direction. Well done, Christian!!

    Larry Culp is doing well at GE, just scrap that silly idea of the reverse stock split he is proposing. I hate this kind of meaningless activities that are for the sake of being seen to be doing something but do not actually produce anything material.