Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Quite a mixed trading session to end the week here in Asia, with Japanese stocks soaring while Chinese bourses are relatively steady following a late surge on Wall Street overnight. A much stronger USD is no longer weighing on risk markets although major currencies are still in the doldrums, with only gold hanging on to its recent uptrend.  Bitcoin continues to stall after its recent flameout and is not looking pretty here going into the weekend, with the four hourly chart looking droopy at best:

The Shanghai Composite is treading water going into the close to remain just above 3600 points while the Hang Seng Index is up 0.6% to be at 29292 points.  Japanese stocks are the stars with the Nikkei 225 about to close more than 2% higher at 29153 points as Yen is sold off tremendously against USD. The USDJPY pair is holding to its overnight gains, currently moving towards the 110 handle even though its extremely overbought:

The ASX200 is putting in a solid session to finish the week, up more than 1% so far at 7178 points, while the Australian dollar is still very weak here, unable to break back above the mid 77 cent level versus the USD:

Eurostoxx and S&P futures are moving higher going into the open with the four hourly chart of the S&P500 showing price wanting to get past the barrier around the 4200 point level after previously gravitating around the intrasession high from last week:

The economic calendar finishes the week with EZ wide and US consumer sentiment figures, plus the closely watched core PCE inflation print in the US later tonight.

Have a good weekend, stay safe and “enjoy” your lockdown again Melbourne….

Latest posts by Chris Becker (see all)


    • Mining BoganMEMBER

      Got a spare ticket? I’ll swap you for the Saturday arvo game. Saints-Roos. Future of AFL right there.

      • I’m interstate + Grand Final Guarantee
        Think I can get you MFC home game barcodes – send me an email if interested . I’m going to the R19 Metricon game – first game since the 2010 QBW pies Dees draw with wife and in laws (all pies). Email [email protected]

        • The Travelling Phantom

          You might watch the grand final of the Dees in Queensland if melbs keeps getting lockdown

    • Know IdeaMEMBER

      What the F ever. Get a life. Summer of the Seventeenth Doll and all that.

      In any event, just carry on with what works for you.

  1. Just a Few Clots

    Imagine you went out all evening drinking then for whatever reason went back to the office with a co-worker to have some (CONSENSUAL) fun in the boss’s office (which you weren’t authorised to be in), then after having your fun you fell asleep naked and someone found you in the morning. These are all hypotheticals of course.

    It would be humiliating wouldn’t it? Your name would be mud. A laughing stock especially if you lived in a small city for instance where everyone knows everyone else. Career — RUINED!! Not just difficult getting employment but I imagine family and friends might eventually find out. Very embarrassing for that person. How would you explain yourself to your partner?? My God — lose your job, your reputation, respect, friends, your partner.

    You’d need a really good excuse to get out of that one with your reputation in tact wouldn’t you?

    These are all hypotheticals of course just using you guys as a sounding board.

    Thank you for listening and please carry on.

    • RobotSenseiMEMBER

      How many strokes have you had with those clots? Quite a few I’d reckon.

      • If Just a Few is on the jury you have one vote. You only need 1 more out of 11. [Juries needing an 11-1 majority to convict; obviously in Jack De Belin’s case at least 4 people and maybe up to 20 people thought he didn’t do it – over 2 trials that is …]

    • Imagine if you were genuinely [email protected], and everyone else assumed that you got drunk, etc. You lose your job, your trust, your dignity. Eventually you gain the courage to stand up for yourself and the same people assume that you are a psychopath that is prepared to save face by locking an innocent person up in prison.

      You are a fn disgrace.

      • Just a Few Clots

        You can never really know someone’s motivations. Some people are very ambitious, some people go scorched Earth. Would be a lot of whispering you know you would want to put that to bed.

        • And yet you pretend to then hide behind a nothing retreat like this. If you’re a turfer then I hope you don’t charge. If you are really trying to argue against Higgins then character assassination doesn’t cut it. Especially when the accused has other accusations against him and pulled the mental health card as soon as he was outed. He’s a much easier person to speculate upon and the little we know about him means that our speculations bout his character are more likely to be on mark. And in either case the speculations and attempted muddying of the personas doesn’t count for squat. Let the law do its thing. And may it be unhindered and lay waste to all that attempts to subvert it.

          • Doesn’t he have a track record of this kind of behavior anyway? Sticking his d!ck where it doesn’t belong?

    • Having read your other comments can I ask if when you were a youngish adult did you ever drink too much? You know during that years long process of learning your limits of responsible alcohol consumption that no one ever goes through because hey we all just know exactly how much our body can tolerate on each and every day (because our alcohol limits never change as our bodies are completely and utterly not a dynamic thing at all)? You never once with alcohol in your system made a mistake in judgement? You were not susceptible to suasion of others? You never trusted anyone with your welfare? You always made utterly logical decisions that put your safety, reputation and career first etc?

      Get real. And as someone else said she could very well have been drugged.

    • You posted some dumb sh!t like this the other day and it was rightfully deleted. Hopefully the Mod does the same again.

      • Just a Few Clots

        Don’t be silly. You don’t have all the facts yet want to put people away.

    • drsmithyMEMBER

      Imagine being an otherwise anonymous young woman with enough influence for dozens of powerful people, up to and including the prime minister, to support your lie.

      That’s the real story here. Who is she really to be so feared ?

    • Lmmao at the anti free speech aspect after requesting Google to remove the videos …..

    • “The two clips at the centre of the claims have collectively amassed close to 1 million views.”
      What’s the chance of 5 million more in the next 24 hours?
      These fools just never learn…

    • Arthur Schopenhauer

      Discovery? Looking forward to the slow motion train wreck this will become.

    • Jordies’s response to the cookie cutter defamation threat that Clive Palmer sent him was wonderful. He just double downed on the insults and tore the thing apart. I wonder if he’d do the same with Bruz?

      Jordie undoubtedly has people feeding him info, as well as backers looking to bring Bruz’s scumminess into the light. Maybe he’ll be more restrained. Do him slowly, in the words of PJK.

        • The key chain ball bit is good because hes just an entrepreneur seeking profit …

        • Gold.

          And Barnaby’s 22 year old daughter being Bruz’s senior advisor. Yeezus. The National Party is sinking faster than I thought. It actually wouldn’t be hard to create a competent national party. You’d just go down to the CWA and find the most badass, take no sh1t, get stuff done matriarchs and let them go for it. Those ladies don’t mess about. Instead they find these bozos.

      • RobotSenseiMEMBER

        I bet he is begging for his day in court to air all this stuff. I hope they stream it live somewhere; I’d tune in.*

        (* I know they won’t stream court proceedings, but maybe each day he can have people do a re-enactment of the trial so far.)

  2. Dr Demo at it again!!

    Much of the discourse in Australia concerning immigration is false.
    [Cross mark] migrants aren’t stealing local jobs
    [Cross mark] migrants don’t suppress wages
    [Cross mark] migrants don’t inflate house prices
    [Cross mark] migrants aren’t a threat to Australia
    [Check mark] migrants ARE vital to the nation

        • The Traveling Wilbur

          Are you sure you want to start on whether you’re getting jabs infront of Reusa or from behind?

    • The Traveling Wilbur

      Did you buy two so that you save on shipping the next time you loose your keys?

  3. SweeperMEMBER

    BlockFi claims to pay up to 8.6% which per interest rate parity means bitcoin is expected to depreciate significantly v fiat which pays almost nothing.
    No different to the Turkish central bank paying 19%. The insiders in the crypto market don’t even have faith in the crypto market.

  4. The Traveling Wilbur

    Just spent 34 bucks on Vegan doughnuts. Vegans better taste better than they used too.

      • It begs the question of what is the argument behind cryptos “Proof of Work” in validating a piece of property – for speculation and hiding other transactions – yet has no production factors, and creates both higher prices/reduces stock of value added product that could be better utilized for productive enterprise.

        Its just so reminiscent of the RE mania pre GFC where everyone was diving in or fear being locked out forever and miss the life boat …. how did that workout again … ?????

          • Over 5 million mopes got kicked to the curb whilst their homes were bought at distressed prices by hedge funds and PE mobs only to make them price setters.

            I think the billionaire club got an upgrade too ….

            On top of all that I hear in D.C. some right wing sorts are concerned about defending this idea of Capitalism …

  5. The Grey Rider

    Why do we continue to do business with these mofo’s?

    “Australia’s military is too weak to be a worthy opponent of China, and if it dares to interfere in a military conflict for example in the Taiwan Straits, its forces will be among the first to be hit, Song said. “Australia must not think it can hide from China if it provokes.”

    Australia is within range of China’s conventional warhead-equipped DF-26 intermediate-range ballistic missile, observers pointed out.”

    • Needed to sell them iron ore so they can make the steel to build their navy. Keep the ore prices nice and pumped so as to keep the housing market equally pumped.
      Safe as houses when the DF-26s start a landing.
      Respect the pump.

      • The Traveling Wilbur

        Well… IF Australia is selling the Materials to build the ships AND the Materials to build the things that punch holes in the ships… THEN win-win should those things begin to need restocking?

      • The Traveling Wilbur

        The HODL-concurrent thoughts are very unsexy. Mostly along the lines of the last 30 secs of this:

        So that’s an idea… which I may not be capable of applying, sadly. Maybe if you send me Michelle Pfeiffer links on HODL days… maybe… that’ll distract me from the fear-gripping-ball-retracing-MB-is-right-MB-was-always-right-why-didn’t-I-listen-to-bc-and-check-the-solar-wind-cycle-SELL button.