Macro Afternoon

See the latest Australian dollar analysis here:

Mind the EUR crash

With mainland Chinese and Japanese markets closed again, there wasn’t much going on here in Asia even as the RBA board of doves met again and did precisely nothing, leaving the Aussie dollar essentially unchanged.  In crypto land, Bitcoin has pulled back from its Monday breakout, hovering just above the $56K level and trailing support on the four hourly chart as it tries to fill its two week correction:

The Hang Seng Index today was able to make a modest bounceback today after the previous drubbing, gaining just over 0.5% to close at 28492 points but still on the ropes here as daily momentum remains in the oversold zone as we could see a retest of the March low at the mid 27000s:

The ASX200 also had a modest session as traders continually bid to keep the bourse above the 7000 point level, closing 0.5% higher at 7067 points. Meanwhile the Australian dollar clawed back some of its overnight reversal games in the wake of the RBA meeting, although its back where it started at the mid 77s going into the London open where the weak USD trend should continue, theres still no buy signal here yet:

Eurostoxx and S&P futures are only up 0.1 to 0.2% with the four hourly chart of the S&P500 showing price continuing its Friday night hesitation below the 4200 point level, wanting to get back to its previous record high, but momentum readings point to sideways action at best:

The economic calendar is relatively quiet with US balance of trade figures and factory orders for May.

Latest posts by Chris Becker (see all)


  1. ErmingtonPlumbingMEMBER

    Ha!,…Now I’ve got 15 mins to think about what to post.

    This will do,

    “One critic, however, described the plans as seriously misguided and warned the proposed changes could damage the island’s heritage values.

    The proposal would require funding from state and federal governments and the Trust – a federal government agency – was also seeking corporate investment”

    No mention of apartments,…how likely is that?

  2. MathiasMEMBER

    How to make Grass Rope –

    How to tie a Square Lashing Knot –

    How to build yourself a house using Rope ( grass rope? ), Wood and Mud proof to keep the mosquitos out –

    In the future I see, Citizens can no longer trust China or the Australian Government.

    Take your mates camping. Great little fun weekend getaway.

  3. New Zealand …

    … Housing and Urban Development (HUD) said that “Increasing housing supply should be the key focus for improving housing affordability in New Zealand”. …

    Officials against rental property interest deductibility removal … New Zealand Property Investors Federation

    Newly released information shows that in addition to Inland Revenue and Treasury, officials from the Ministry of Housing and Urban Development were unanimous in advising the Government against removing rental property mortgage interest as a tax deduction. This opposition is also supported by economists, the general public and even tenant groups who are also stating that the policy will lead to rent rises.

    Housing and Urban Development (HUD) said that “Increasing housing supply should be the key focus for improving housing affordability in New Zealand”. Some initiatives in the March 23 announcement have focused on this. However some will have the opposite effect.

    Removal of the mortgage Interest tax deductibility will not increase housing supply. It is simply a way of shuffling the existing housing stock, removing tenants to make way for first home buyers. The estimated 75% of current tenants who are unable to afford to buy a home will find it harder to save for a deposit even if house prices fell by 10-20%. … read more via hyperlink above …
    … Earlier comprehensive reports …

    Opinion – Bryce Edwards : Renters have been thrown under the bus by the Labour Government … Newshub

    Housing crisis: Emergency motel stays averaging three months, some tenants stuck there for over a year … Jenna Lynch … Newshub

    … being aware too … of New Zealand’s long and sorry history of dense urban development failures … with this being simply the latest …

    A living hell: Apartment disasters (trailer and full doco) … Prime TV New Zealand

  4. MathiasMEMBER

    Boomers will be dead in 6085 days, 05 hours, 19 minutes, 57 seconds. Death

    Do we have a date for the Civil War yet? Let me know when it arrives.

    Australia will run out of money long before the Boomers die. On best guess, Boomers may start to die around 2028 and I honestly cant see Australias Finances lasting that long.

    The Boomers will kill the young before the Young ever have any hope for a meaningful life in Australia.

    Either the young turns to Terrorism… or the young just dies.

    • MathiasMEMBER

      By 2028, at the very MOST, Australias interest rates will be at -0.5% . Most likely, it’ll be far worse then this.

      The young have been waiting out there lives while the Boomers gorge on all this cash, spend like drunken sailors and its only going to get worse as we head into this future.

      1/3rd of the entire Australia Budget ( more then what the Defence Forces of Australia get ) is dedicated to Baby Boomer Aged Pensions. Its also being fueled by a huge Housing Crisis.

      This can not be sustained. Anyone who’s telling you the future outlook is rosey, is telling a lie.

      No matter how this ends, it ends in Violence. Either Australia gets Leadership or it gets Violence.

      Im sorry ASIO, but without leadership, where this path leads suggests someone has to die.

      Either the Boomers take a pay cut or the Young die. Either way, without change, violence is guaranteed.

      People can no longer ‘Live Life’ anymore and thats the greatest motivation there is.

      If Liberals win and we see the same kind of Leadership in 2022, I suspect Australias going to fall apart.

        • MathiasMEMBER

          Dont tell me to relax, you thief.

          That tends to happen when you destroy peoples lives and leave nothing for the future. How’s your pension?

          We can ramp up Education when the Boomers die and arent draining all the money out of the Education Sector for the Health Sector. You wonder why tommorrows young are so dumb? Because they’ve sacrificed all there education TO PAY FOR YOU.

          Stockmarket vs Health Indices since 2000 –

          Health care has boomed while Education has collapsed. Why do you think that is genius?

          Your a drain on the system. Your arrogant and entitled.

          • TailorTrashMEMBER

            Sorry I don’t fit into your model of boomers . I paid more tax into the system than you can dream of earning …and guess what ….I’m not taking it back out ….suggest you might take advantage of it and get yourself some help to sort out your somewhat unbalanced views

            Good night .

          • MathiasMEMBER

            I met a girlfriend once. She said, ” But Im not like most woman “.
            If I had a dollar for everytime I heard that, I’d be a very rich man.

            Australia. The Land of bullsh*t artists. I bet your from NSW as well.

            ” Im not a murderer. The knife just slipped out of my hand and somehow it ended up in the chest. Im totally innocent. “.

            Australia. The Land of Bullsh*t.

          • MathiasMEMBER

            Wouldnt it be awesome if the Boomers took a $100 pension cut and that spending was redirected into Education?

            Imagine the good it would do. How many Boomers would take a $100 pension cut to see the young better off?

            Answer: none. They are all entitled, whiney, tight a$$es who have lived off the wave of Political Prosperity for 50 years.

            The ” I worked hard back in my day “. Yeah right. Bullsh*t you did. Free education. Cheap housing. Low cost of living. Whining about the young all day. Waiting 20 years to see your house prices tripple each year for doing virtually nothing. Hard life? You havent lived a hard life. You’ve had a spoon in your mouthe since the day you where born. A boomers claim to fame, ” The day I had to sacrifice. I had to use a cheaper spoon. “.

            The Boomers know nothing about Sacrifice because the Boomers have never had to pay for anything.

      • MathiasMEMBER

        Oh sure… there will be Money Printing and Migration along the way to offer the ‘Illusion’ of growth, but none of it changes the fact that Australias heading in one direction, and one direction only.

        The Migration and Printing are just to distract us temporarily between election cycles and to give Australias Extreme Right the opportunity to say, ” See… we fixed it for a day “.

        It fixes nothing. Its just more bullsh*t like half this bloody country has become.

  5. V_brancy alert!! Medical edition!!

    Dr Saad was paid $5,000 a month to review the scan results, but he never noticed he was listed as the referring doctor, the inquest heard.

    Dr Saad admitted he had a professional obligation to tell the executives that a CT scan, including a coronary calcium score, was not necessary.

    “You have known for a long while that you should have done that?” Mr Halley asked.

    “Yes,” Dr Saad quietly conceded but denied he was lying to cover his tracks.

    It was argued that he put patients at risk by not properly checking the details of the reports and skipping to the conclusion.

    Under fire for his part in the program, the GP accepted he failed to follow good medical practice when he did not fully read the reports and admitted he should have known who the referring doctor was.

  6. MathiasMEMBER

    Liberals must be getting desperate for votes. They’ve moved up the potential for a war with China.

    Australia faces ‘potential military crisis’ with China over Taiwan within years

    Sure… and who’s paying for? Australias Young who are already paying for Australias Aging Crisis? Not to mention all the Liberal Corruption going on in this Country thats just hollowing out Australias Domestic Economy? Maybe we can jack up the housing market further and hollow out Australias Business Sector? Destroy the Tax Revenue base and turn Australia into nothing but a Financial Desert?

    There comes a time when a Fruit Tree provides more value then printed Australian Currency. The way I see it, Australian Money has no value and unless Australia is planning on turning Authoritarian and declaring War on its Domestic Population, there’s no chance in hell this Countrys fighting any war, with anyone.

    When Australias Domestic Economy collapses, we will be lucky to put fuel in our ships.

    Will the Baby Boomers be taking a Pension Cut to pay for this war or will the Bill be directed onto the young? So if all the young men are away in war and all the woman are nurses, who’s actually paying any Tax? Where’s the money coming from?

    Australias Interest Rates sit at 0.10% . They are practically zero and Australia thinks its just going to reach out its hands and grab free cash from thin air. Good luck with that. Australias Interest Rates are going to collapse and Australias Money is going to be worthless.

    I’ll be out bush living the good life. You want to arrest me then come arrest me. I wont be fighting in no damn war. I dealt with an Aging Population and fought the Boomers. Thats war enough for me.

    Without a Domestic Economy, Australias not running anything.

  7. migtronixMEMBER

    Runnin’ with believers, no time for fever
    And I haven’t got time for you either
    With your sticks ‘n’ stones, sticks ‘n’ stones
    I take ’em home on my own

  8. MathiasMEMBER

    Old News – Defence recruiting soars as Australians look for work amid downturn

    So thats why Australias filling up with a$$holes. Everyones turning into Military Jocks, voting Liberals and pretending to be a Hero.

    Governments plan. Drain the domestic economy and force people into the Military. Nice one ScoMo. You wont be getting me in there.

    You wont get me falling for this bullsh*t.

    The number of Australians looking to join the military has surged since the COVID-19 outbreak began.

    Recruitment applications to the Australian Defence Force are up by 42 per cent compared to last year.

    Women and people from the aviation and tourism industries comprise a larger proportion of applicants than usual.

    The rate of female applicants has skyrocketed by 78 per cent when compared with the same period in 2019.

    Women have been disproportionately affected by the so-called “pink recession”, which has seen predominately female industries and casual employment roles heavily impacted.

    Applications for the Navy are up by 54 per cent compared to the same period last year, applications to join the Air Force have increased by 43 per cent, and applications for Army jobs are up 41 per cent.

    “The global financial crisis is when we saw a similar surge,” Defence recruiting director Jan Noonan said.

    • MathiasMEMBER

      A few months ago, I was thinking about this.

      When you read about Australias History, you hear about the Young Boys trying to get into the Army. They get seriously emotional when they cant be part of it. It often made me wonder, ” What aspects of Australian Culture would have made young boys back then be so eager to die? “. Even without TV, Im sure they would have heard of there friends being killed and yet they seemed so eager to dive right in.

      So thats the secret. The Government runs its Domestic Economy into the ground, makes the Army look attractive, everyone stupidly signs up for it and before long you think your some kind of hero. That explains why Australians are becoming such rutheless a$$holes and we are seeing a culture change in this country.

      You have to defend yourself against China, I guess… but I dont know how Australias going to survive when its Domestic Economy craters and we totally run out of money.

      So in this future vision of Australian Socialism, Governments are going to give houses to the ADF vets who fought for the Country during the wars. They’ll try to murder off the rest and run them into the ground. ” Those who fought for Australia deserve property. The rest dont. “. Yeah yeah… I see it.

      Its basically 1927. Economic Crash… War.

      So the Liberals and Boomers are laughing at the top of Australia as they get away with all this Corruption. They get to screw 20 years of the young and walk away like thieves in the night… hiding all the corruptions in the fog of future war, murdering off tommorrows young while manipulating it all to there advantage.

      I dont know why, but thats just not acceptable to me. I cant let that lie.

      The Boomers must pay for what they’ve done over these past 20 years. So must the Liberals. I just cant let that go. Australians are dead because of the past 20 years of stupidity. I cant forgive that.

      You dont forget the past because you move onto War. The dead dont magically rise from there graves. I cant forgive these past 20 years… and I dont think Im ever going to.

    • MathiasMEMBER

      It wasnt China who killed my mates. It was Canberra.

      I guess if Australia wants to fight a war then so be it… but my war will always be with the Boomers and with Canberra ( more specifically, the Liberals ).

      You dont just walk on into a new chapter in history. Murder is Murder and I cant let that go.

      For me, Canberras responsible… not China.

    • MathiasMEMBER

      > Women and people from the aviation and tourism industries comprise a larger proportion of applicants than usual.

      If we go to war, Australias Woman will be fighting for us while Liberals and Boomers sit on the sidelines ha ha. Such cowards.

      They started it with there greed and now they hide lol.

      • I have to ask this straight out, I don’t have years to wait, who are you? Many on MB have been here awhile, I myself have watched and been here since 2012.
        But your posting is quite victrolic, if thats the right word?
        Just be honest about it…A man should use a tape measure….stretch it out to 85 cm….subtract your age…and ponder whats left….Son, I suggest you do the same.

        • The Traveling Wilbur

          LOLd. 85… Mine’s in a draw. And it’s 400 long. 😀

          PS It’s Jacob. He finally cracked it when his landlord reno’d the bathrooms in his rental. And installed rain forest sized shower heads. 😉

        • MathiasMEMBER

          > A man should use a tape measure….stretch it out to 85 cm….subtract your age…and ponder whats left….

          I had a mate called Jigga. That guy really got around. One of his ladys came to my doorstep to tell me she was pregnant and couldnt find him ha ha. Those where the days.

          Thats two references to the same thing.

          When it comes to size, I really cant say I’ve given it much thought. I suspect mines really really small. I would imagine yours is much bigger then mine. It must be all the built up insecurities I have about such an important aspect to my life. I dare show my face to woman ever again. Could also be why Im not paying off maintenance cheques right now ha ha.

          On the subject of small things, I’ve been somewhat intrigued how later in life people tend to get back problems. Seems like you can fix almost anything these days with modern medicine. New heart. New kidney. Drugs to fix almost every aspect of your body. Not so with backs. I guess its a bit like the Chassis in your car, once its stuffed, its stuffed. A pretty important component I would imagine given all your organs hang off it. You see a lot of these tall people with lots of weight hanging off em. They always end up with bad back problems later in life. Especially if they had a hard occupation like Tradesman. Maybe being the little bloke aint so bad after all. Maybe you end up living longer ;p

          Half my mates I’ve known who have suicided is because of relational issues. I think sometimes, the smaller your Jigga, the happier your life will be ha ha. It only costs you money in the end.

          If your lonely, you can always go buy yourself a dog. It’ll last longer then most Australian Relationships you’ll ever have… and dogs are cute. Average Marriage is about 8 years ( less now ). Dog lasts for 11 years. Dog will outlive your marriage. Although with a name like Jigga, I suspect 8 years is more like 5 minutes lol.

    • MathiasMEMBER

      Australian port at centre of Beijing furore

      The plot thickens. China wanted to use Darwin Port as part of its Belt and Road Initiative.

      I mean seriously, just look at the Japanese War we got involved in and how strategic Darwin was to that?

      ” It cited a research fellow at China’s Liaocheng University, Yu Lei, who said fears around Beijing were trumped up. China poses no threat to Australia’s national interests and it has no political ambition to interfere in Australia’s affairs. “… except for all them sanctions it just did to force us into the CCP’s fold.

      Boomer makes a quck buck. Australias National Security now at ransom. He runs off with the cash and Australias gotta foot the bill. Sure, I dont mind paying $500 million dollars to get Australias Port back again while some Boomer runs off with the cash.

      We break it. We fix it. We break it. We fix it… the only consistency amongst all of this, is Australians have to work harder, to pay more money, to fix sh*t we didnt break in the first place, so it can all get broken again for someone else to profit from.

      Why pay Taxes? They only get misspent anyway. If Australia became wealthy tommorrow, some Liberal or Boomer would find a way to extort it and we’d be back to being broke again.

      We dont need more Taxes. We need a more secure and regulated Government. That Darwin guy should be up on Fraud charges.

  9. migtronixMEMBER

    I hate these lying grifters! Popcod slurped off the chinks until the bargain was thin and my taxes payed for her current fortune 👌

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