Macro Afternoon

See the latest Australian dollar analysis here:

Aussie 10 year yield inverts to US

A more positive tone is setting in across stock markets in Asia following quite a mixed week so far as we all anticipate the Fed’s next move after tonights latest US inflation print. The ECB is meeting as well but seems to have been factored in, although USD is gaining ground against both Euro and Pound Sterling going into the London session. Gold remains well under the $1900USD per ounce level while Bitcoin is running out of puff following its swing play from the $30K bottom, currently stalling out here at the $36K level:

The Shanghai Composite has closed 0.5% higher to finally get back above the 3600 point level while the Hang Seng Index is putting in a scratch session to finish at 28713 points. Japanese stocks have finally found some upside with the Nikkei 225 closing 0.3% higher at 28958 points even as the USDJPY pair pulls back down to the 109.50 midzone after the very mild breakout overnight, with momentum again getting into the negative zone ahead of tonight’s US inflation print:

The ASX200 has pushed through the 7300 point level, gaining some 0.4% to close at 7302 points while the Australian dollar is the odd undollar out by putting on some gains to almost get back to the mid 77 level but still well off the previous weekly highs that are acting as resistance alongside the medium term downtrend from the start of the year:

Eurostoxx and S&P futures are sliding down again going in the London open with the four hourly chart of the S&P500 still unable to advance past the previous record high, as there seems to be an anchor here at the 4230 area with momentum no longer overbought and ready to invert:

The economic calendar is action packed tonight with the ECB interest rate meeting then the May inflation print in the US.

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Comments

  1. The Travelling Phantom

    @ Boom i suggest to Reusa to join you in your surfing or cycling instead of his “power walk before late’ ”
    Hopefully you won’t mind

    • boomengineeringMEMBER

      Been working at Prestons the other side of Sydney getting up at 4.00am home after 5.00pm last few days. 2 sets of electricians failed to fix. Lots of 24V contactors, thermal overloads and timers were faulty as well as new bearings in main motor.
      Ended up being hydraulics the worst offender.
      So no surfs of rides. Tommow surf shop blanks manufacturer 4M high mixing machine.

  2. so are those 2 victorians who “escaped” the lockdown by driving through western NSW into Qld via Goondiwindi in gaol yet??

    why no outrage and when will the murdoch media dox them with a story leaking their identity? Must be an open secret on the Sunny Coast?

    • Ronin8317MEMBER

      Guangzhou have about 110 active case right now, (although they don’t count those who are asymptomatic, so it’s a bit rubbery). The difference is that nobody in China will dare to act like that Victorian couple who drove to QLD : no protection of identity in China. Even if the CCP lets you off with a stiff fine and jail, the rest of the population will never forgive you.

      • SweeperMEMBER

        Yeah but if what happened up to late Mar last year is any guide they’ll let them fly out of the country.
        Go to Europe, boast on social media about how they kept their fever down through customs then go to all the best restaurants.

        • Ronin8317MEMBER

          No different from how Victoria doesn’t care if someone who is infected goes to QLD via NSW. Once they get out it’s not their problem anymore.

          • SweeperMEMBER

            completely different. Australia doesn’t allow someone with covid to get on a plane and fly to China, lie to get through customs then hit up all the tourist attractions
            And then complain when China closes their border.

  3. Arthur Schopenhauer

    Lockheed Martin Australia has announced that former Chief of Joint Capabilities and Deputy Chief of Air Force, AIRMSHL Warren McDonald (Ret’d) will join the company from July 1. AIRMSHL McDonald will join Lockheed Martin Australia after a distinguished 40 year career with the RAAF from which he retired at the end of 2020.

    https://adbr.com.au/warren-mcdonald-to-lead-lockheed-martin-aust-nz/

    Things that make you go hmmmm.

    I guess we’ll be getting another 28 too fat, too slow and too expensive fighters that will be available 40% of the time?

  4. The Travelling Phantom

    Hopefully all melbournian MBs have survived the big storm ( escaped a falling gum tree by meters)
    And hopefully Queenslanders won’t get a lock down due to that couple

      • The Travelling Phantom

        Never thought a radio presenter tbis morning would lose his “politically correct ” mode and say capital punishment for those 2

        • For a flu that has killed 1 person in Australia in 2021?
          There are more people hospitalised due to vaccine adverse reactions than this “pandemic virus”

          How simple are you people, really?

          • The Travelling Phantom

            It’s the principal of you look after your mates and don’t infect them. NOT the virus is so dangerous or not. The issue of True Aussie spirit not “fok them I’m outa here and infect those there too”

      • MathiasMEMBER

        I dont ever think I’ve seen Queenslanders this angry ha ha. Yeah… they arent happy lol.

        Queensland is blaming New South Wales. So New South Wales is blaming Victoria lol.

        Its like a chain circus.

  5. FUDINTHENUDMEMBER

    ‘Claims could run into billions’: the interests at stake if Olympics in Japan were cancelled’

    It seems its grim economics keeping the Olympic flame burning..

    “I can’t think of another moment when it was so glaringly obvious to the general public that big money is fuelling the five-ring juggernaut.”

    https://www.theguardian.com/sport/2021/jun/10/claims-could-run-into-billions-the-interests-at-stake-if-olympics-in-japan-were-cancelled?CMP=Share_AndroidApp_Other

  6. ErmingtonPlumbingMEMBER

    We have all seen Mike post these Numbers before.
    Are they correct!?
    and if so why do we hear none of this from our political and/or media establishment.

    MikeMB
    June 10, 2021 at 3:23 pm

    Is there a shortage of third world migrant guestworkers?

    I don’t think so.

    Migrant non resident snapshot June 2021.
    (DHA / ABF & ABS).

    1.9 million non Australian foreign nationals on PR.
    Sucking up our Centrelink & Medicare.
    Or as we now see / tens if not hundreds of thousands of them were actually back in India, China, Bangladesh, Nepal – sucking up our welfare & now trying to get back in to maintain their Centrelink payments..

    A PR intake of third world detritus, lowlife, unskilled, useless, who are now a huge social & economic burden on Australia.
    Lower than average job vocations & incomes, high welfare dependency, high crime rates, non assimilated, needy, ideological and political extremism.

    A decade long mistake in migrant intake selection.

    Remember these PR are NON Australians, foreign nationals, only given permanent residency, they do not belong and do not identify with being Australian.

    -/-

    Plus we have another 2.4 million non Australian foreign nationals on TR (1.7 million) or SCV (680,000)

    So the PR (1.9 million) and the TR / SCV (2.4 million) combined is a total of 4.3 million non Australian foreign nationals in a population of 25.7 million.

    1 in every 6 people in Australia a foreign national.

    👉🏾More than Gaddafi at his peak.

    90% of the non Australian foreign nationals are concentrated in Sydney or Melbourne (ABS)

    Nearly 2 million are now in each city.

    👉🏾 40% of the people in Sydney or Melbourne are non Australian foreign nationals on a PR or pretext TR or SCV visa. Amazing isn’t it?
    There is no shortage..

    Concentrated even further into vast fetid migrant ghettos.
    Ex Australian housing, whole suburbs, huge swathes of both cities bought up by foreign criminal syndicates in money laundering, the Australians fled or were dumped on the street, and then rented out in cash in hand migrant only slum share.
    116,000 Australian permanent homeless, 340,000 seeking affordable housing. Well over 1.5 million Australians were evicted in a suburb by suburb mass ethnic cleansing of Australians from the two main cities.
    Replaced by over 4 million third world migrants occupying their housing at 2x, 3x, 4x the dwelling occupancy density.

    (Burwood or Strathfield – 1 white Australian family in a 2 bed unit, say an average 3 person occupancy density)
    Then unit or block bought with foreign dirty money laundered by a PR to avoid FIRB, the Australians are all evicted & now 8 Chinese now live there in squalor and cash in hand bunk share)

    -/-

    The ‘non PR’ foreign nationals.

    We have 2,385,000 foreign nationals on a TR or NZ SCV in Australia.
    How many of third world unskilled origin?
    Over 2.1 million or 85%.
    We have 1.7 million unskilled third world migrant guestworkers on pretext TR visas. Almost 100% of third world or unskilled origin.
    Plus 350,000 of the 680,000 NZ SCV are non NZ born third world unskilled who sneak in via the NZ SCV loophole.

    So that’s 2,050,000 third world lowlife slum clearance and rurals trafficked in to Australia to live & work illegally.

    Stealing at least 1.5 million Australian jobs..
    Stealing 2 million Australians accomodation.
    Creating vast non assimilated migrant only bunk share squalid slum enclaves.
    (Where do you think they all live & how?)

    👉🏾There is no shortage.

    And specific to the TR visa category.
    Many are in visa breach.
    Many have no funds / never did, they lied.
    False documents.
    Fake courses.
    Fake visa pretext.
    Falsified health check – foreign agent doctors.

    🔻They work illegally and create Australian unemployment
    🔻They create housing contention & homelessness
    🔻They lower Australians wages
    🔻They lower our Australian gdp per Capita
    🔻They work and live in a foreign criminal run black market cash economy, foreign run labour rings, no taxation paid.
    🔻They degraded our education as it prostituted itself as a migrant guestworker visa alibi.
    🔻They congest our infrastructure
    🔻They add to our emissions (😏..)
    🔻They are the epicentre of vice & crime.

    And they are a clear & present bio security risk in being both a vector of virus contagion into Australia, as well as an incubation hub and transmission vector of the disease to the Australian community.

    /
    Facts are we have a surplus of migrant guestworkers.
    An overshoot in fact.
    Millions more than we need.

    They are a risk to our society, our well being and our standard of living.

    When will we see a round up and deportation of these millions of third world migrant guestworkers?

    REPLY

    BentoMEMBER
    June 10, 2021 at 4:00 pm

    Rounding everyone up you blame for eveything and deporting them, would almost certainly not work, but if it’s sells memberships and swastikas, why not say it!

    REPLY

    ErmingtonPlumbingMEMBER
    June 10, 2021 at 5:45 pm

    What’s clearly not working is our democratic process.
    I don’t like Mike’s fascistic talk of “Rounding people up” either Bento.
    His blaming people wanting to live somewhere “better” than where they came from isn’t targeting the people responsible for the excess of immigration we have had into this country.
    Its big business lobby groups in alliance with the Media and all the traitors who toe the plutocratic line (Right wing) within our Parliaments.
    All the elites are in on it including the #FakeLeftists of the Greens and ALP along with the LNP.

    What I find so amazing is the information,…the Numbers!,…Mike quotes to us in these little rants of his.

    If the are correct (Are they MB fact checkers?) then I am astounded that I hear NO ONE in the media Or politics repeating these FACTS.
    Why such a conspiracy of silence?
    How is such overwhelmingly damning information kept out of the public mind for so long?
    The silence on this stuff is Orwellian if Mikes figures are true.
    I have not read or heard them anywhere else!

    This kind of suppression of the truth is just as authoritarian and fascistic as people with swastikas rounding people up, especially when the people in that Society think they live in a democracy!
    It’s a kinda of propaganda,…an ability to control information that goes beyond the wildest dreams of Goebbels himself!

    • SnappedUpSavvyMEMBER

      The 40% of people in Sydney are non Australian citizens etc etc bit I agree with. I hardly ever hear Aussie accents. In my area it’s up to 80%

      WHAT A FCKN STUPID COUNTRY

      • MathiasMEMBER

        Yeah… and those are the two States which run out Parliament.

        Im no expert but doesnt take a genius to see Foreign Interests taking over our Parliament.

        When Parliament is hijacked by Foreigners, Im expecting Australians to be a hated species they’ll want to wipe out.

        • Having been on this blog awhile, it would appear you need help. Is there a Men’s SHed near which ever dire suburb of QLD you live in? Or a local shrink? Because your bile and nonsense is toxic. You need more than a subscription.

    • MathiasMEMBER

      > but if it’s sells memberships and swastikas, why not say it!

      ha ha. wow. Is that guy for real?

      Migrants are attacking Australians and apparently, Australians are the problem lol.

  7. SweeperMEMBER

    Now Fauci is saying he *didn’t* play down the lab leak theory and has always been open minded.
    Say it did leak from the lab – as an accident – the consequences of China not disclosing that from early last year would be enormous. Because then the virus’ experience in the lab could have been traced to anticipate how it would effect humans and how to treat it.

    • SnappedUpSavvyMEMBER

      I would bet anything that the Chinese don’t even know for sure as that country is so dog eat dog they don’t know who is undermining who

        • The Traveling Wilbur

          I’m sure, if that was how the timing of events played out, it was just a coincidence.

          In the same way it was just a coincidence that Colonel Mustard happened to be in the library holding a candlestick ordering vast amounts of PPE when the rest of the assembled guests happened across a battered corpse in the non-fiction section leaking vast amounts of bodily fluids that were seemingly failing to clot.

  8. Just announced tonight, 52 year old woman dies from Astra Zeneca vaccination.

    Thousands of people unable to be reunited with dying relatives by Queensland border restrictions. Couples/ families kept apart.

    Japan’s Olympics to have no spectators, not even Japanese.

    51 year old Queensland Premier Annastacia Palaszczuk on Twitter this week:
    “Today I got the Pfizer vaccine in the event I need to travel to Tokyo for the Olympics “

  9. The Wizz of Ozz

    Have you seen Martin Dfa latest post this guy is clearly out of his depth and is Parroting mb he’s all at sea I don’t thing he understands what’s happening can ya buy my merch lololol

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