Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

A much better start to the trading week here in Asia following the Friday night flipflop on risk taking on Wall Street, with all major stock markets gaining. The USD is pulling back some of its Friday night losses, which is helping domestic currencies at least as Yen safe haven buying continues to taper. In Bitcoin world, the crypto currency has gapped above the $34K level but has stalled this afternoon while gold is actually dipping below the $1800USD per ounce as the $1810 rounding top pattern on the four hourly chart seems to suggest a push to the $1795 support and then trailing ATR level at $1785 later tonight:

The Shanghai Composite is up 0.7% going into the close to 3547 points while the Hang Seng Index is putting on similar gains, up 0.6% to 27510 points. Japanese stocks however are surging the strongest with the Nikkei 225 closing over 2% higher to 28569 points as the USDJPY pair maintains its Friday night high above the 110 handle but without any further advance so far:

Australian stocks are also putting on runs but at the same pace as Chinese bourses with the ASX200 closing 0.8% higher as it advances back above the 7300 point level to 7333 points. Meanwhile the Australian dollar is rolling over slowly here after its Friday night surge, retracing back below the 75.70 level as four hourly momentum remains in the negative zone and points to a return to last week’s low at the 74 handle:

Eurostoxx and S&P futures are putting on barely any gains so it seems the surge here in Asia may not translate to anything meaningful later tonight with the four hourly chart of the S&P500 pointing to a small retracement back to last week’s mid session high at the 4350 point level:

The economic calendar starts the week very quietly without much on the agenda this evening.

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  1. The Travelling Phantom

    Good evening all my dear Sydney siders, hope your lockdown fishing soon,
    How the numbers will look tomorrow?

    • 142.

      Hopefully we see them start to come down soon. Hard to know when folks started taking it a bit more seriously – probably only a few days since we sent the cops into SW Sydney … ’cause diversity is our strength!!

        • That’s just a lucky guess: “The number 168 is lucky because of the sentence that it phonetically sounds similar to in Cantonese. It sounds similar to “one path to prosperity”: 1 is “one”, 6 is “path”, and 8 sounds like “prosperity/luck”. Therefore, you tend to see the number 168 at Casinos, on license plates, and other novelty items in China.”

          I’ll go for nearology and say 169.

        • Yeah, negative from his first test. Will get re-tested every three days or if he becomes symptomatic.

          NSW Ambulance have him (and 12 others from his station) in HQ at the Ibis Sydney Airport – one of those places that are usually used for an overnight layover. He’s kicked up a stink with the Union as it’s stipulated they should have kitchen amenities and balcony access if forced to quarantine. Can’t imagine 14 days hold up in those dog box rooms.

          • Fishing72MEMBER

            I’ve had theoretical discussions about quarantining after going overseas and the punch line has always been getting stuck at the Ibis for a fortnight. You can’t even open the window or control the temperature. I’m seriously not sure if I could do it.

    • Mining BoganMEMBER

      I’m going with 143, the second innings score Ricky Ponting managed in his 100th test. Incidentally, the only player to score a double in their milestone game, as he scored 120 in the first.

      It’s quite fitting as the game was played at the SCG, which now only holds echos.

    • Ronin8317MEMBER

      Base on the number of people that person at the visa consultancy would have infected over 6 days, I say 334. Don Bradman’s highest score.

    • The Travelling Phantom

      I thought Dan is the man. 😘😘
      Love you dear Ermo
      I’m The Travelling Wilbur son,
      I’ll tell my dad you cursed me!😉

    • Arthur Schopenhauer

      I reckon Shorten is going to roll Albo. (He’s the better choice, ‘cause he’s Victorian! 😀)

      • The Travelling Phantom

        +1 not cause he’s Victorian but it felt he had a vague plan and policies compared to Albo


          “The vaccine rollout in Australia is a sh1tshow,” – Bill shorten on ABC TV this arvo. I’d back him just based on the colourful language

          • Is that what he said!? Did they dump the swear word?

            Wish more pollies would speak plainly

            I agree – he’s crazy if he’s not

          • desmodromicMEMBER

            That is what he said. No edits or beeper. I was pleasantly surprised by his use of phrase.

    • The Travelling Phantom

      Until you get stage 4, what Sydney going through is a nice slowing down of the pace of life ( which I won’t mind to be like that always) apart from kids studying at home ofcourse

        • The Travelling Phantom

          That man has very strong resolution, if all the world says something and he thinks it’s actually something else then he sticks to it (usually he puts it in an argument not just opinion) and seems he’s right again regarding the army.
          All HAIL BCNICH (as Harry said once)

      • I mean the question for Reusa is can he get the relations to come to him if the shops are shut?

        It’s probably more essential than half the activities underway in the East …

    • Mining BoganMEMBER

      I miss it. Streets were quiet. Uninterrupted exercise time. No pressure to hang out unnecessarily with irritating arseholes. People had time.

      It was like living in the country again.

      • The world is crazy, everyone just needs to slow down a bit and relax. There is no great urgency for everything all at once. Imagine if we all had more time? Less stress. Would be a good thing.

  2. This is a pretty funny read. Straight up hypocrite Guardian journo.

    Some examples:

    Headline 1: Why Ivanka’s new haircut should make us very afraid
    Headline 2: The uproar over AOC’s hair is a reminder that women can’t win under the patriarchy

    Headline 1: Men are less likely to wear masks – another sign toxic masculinity kills
    Headline 2: Shaming people who refuse to wear face masks isn’t a good look

    • C'est de la folieMEMBER

      Dude, they (the Guardian) are in a market, they need to sell something – and in their case they need people to pay for it, or advertisers to pay for it – and that patch of the market is their patch. Once upon a time they ran a pretty good line in economic reform, and you can often see references to Aneurin Bevan and Ernest Bevin, and some of the older (and even still alive) reforming politicians.

      But they sold out of the socio economic progressive movement some time ago, to run long a narrative referenced by the ‘men are toxic’ – ‘white people are guilty’ – ‘The LGBTQ movement is you me and everybody’ dynamic. Thats all fine by me. They still seem to run some decent soccer commentary (though their efforts to cover AFL are feeble) and they still intermittently come up with some thought provoking writings on some issues. But for the most part they seem to have settled on writers and narratives of the kind referenced, and provided one doesnt absorb too much of it they can be kind of entertaining (particularly if you get toasted before reading them).

      For those of us living outside the dynamic or far enough away from that dynamic it isnt that central to our lives it can be like reading of theories of life on planets some way away.

      • Yeah I’ll drink to that Gunna. I ignore most of the woke crap and focus on the economic reform stuff along with the mention of the downtrodden which Skynews wouldn’t talk about.

    • drsmithyMEMBER

      With that standard conservative (mis-)definition of hypocrisy, what a surprise to find out that:

      OpIndia is an Indian right-wing news portal […]

  3. Arthur Schopenhauer

    “Sh!tshow” cuts through because it’s true and it’s what the majority of the population are thinking.

    That’s how you do it Albo.

    • The Travelling Phantom

      To start your life as Packers lawyer tells a lot though..the last good liberal maybe was Menzies

    • SnappedUpSavvyMEMBER

      Krudd is an egomaniac of the highest order and turdballs is just a salty wanker. Both obsolete

        • SnappedUpSavvyMEMBER

          Yes scummo is a class of his own in being a ch unt which is quite impressive considering how fckn awful Krudd was

    • Hmmm. We are gonna find out in the next couple of weeks just how useful as prophylactics the vaccines are, especially including the Wembley and Wimbledon crowds.

      • SnappedUpSavvyMEMBER

        Yeah we can only sit back and watch, I really hope the vaccines work because it’ll be the greatest depression ever if it’s back to square one


      Southgate is the greatest penalty misser of all and he’s so white he’s translucent. Also, what a terrible first 5 to choose for yer pens, it’s like southgate loves tanking penalties! Saka has never taken a professional penalty in his life, and southgate puts him in at 5th.

      • RobotSenseiMEMBER

        If Rashford doesn’t hit the post, England are up 3-1 in the shootout and have one hand on the trophy.
        Tough game.

      • Saka has never taken a professional penalty in his life, and southgate puts him in at 5th.
        …and that’s my point. Thank you. So what was the other reason to put him there then?
        btw. I really liked Sterling.


          Apparently he was good in training when they were practicing pens. I’M good in training at pens. Not so much with 100,000 fans and tv cameras trained on this exact moment. Mind you Jorginho missed his too and he’s a pro, so Saka/England can’t beat themselves up too much (although they will..)

      • Players should be chosen based on capability to score from a penalty AND ability not to crack under pressure. Nothing else. 2 out of 5 is a result implying Southgate chose poorly. I wouldn’t let Messi take the penalty kick in this situation.

        • So how are the ability to score from a penalty and to not crack under pressure when doing so related to skin colour?

          • Mining BoganMEMBER

            It’s well known that darkies have no soul so they couldn’t possibly get nervous.

          • IMHO ability to kick penalty and mental stability is under no circumstances related to skin colour. However, the desire to please social justice and racial equality warriors leads to unprofessional decisions where skin colour is more important than ability to get job done.

            I can clearly imagine what criticism Southgate would face if England won 4:3 on penalties but all penalty takers for England would be whites…as not giving people of colour equal chance.

          • drsmithyMEMBER

            I can clearly imagine what criticism Southgate would face if England won 4:3 on penalties but all penalty takers for England would be whites […]

            Sure, but like most of what’s going on it would only be in your imagination. There wouldn’t have been any criticism, because they would have won.

            But now they’ve lost and some darkies were involved, well, we need reasons as to why that was a bad idea.

            The convoluted logic yous go through to try and justify yourselves is equal parts hilarious and horrifying.

            At least the only person I’ve seen so far trying to blame their loss on “taking a knee” is that oxygen thief Paul Joseph Watson.

  4. Arthur Schopenhauer

    Matt Canavan, brother of coal executive John, rounding out today’s LNPs sh!tshow.

  5. I see Matt Canavan went full retard this arvo calling for the end to Sydney’s lockdown with arguments like “it’s just like the flu”. Does he really believe this or is he just pandering to his followers?

    • Tried to read the article, daily mail has too many soft p0rn links down the right column. mouse kept going astray.

    • Yes, as the post disgested meal’s value, is equal to the amout of effort required to create it. Thus they’re the same. Collectively called, skid marx.

      • Esoteric morals are like the air diet you say …. and value is the byproduct expelled …. where the mark it leaves spells Atonement ….

  6. Goldstandard1MEMBER

    From experience in Melbourne…… People always thought numbers were on the way down as it would show a plateau from the previous day…..really it was just low testing (from Monday) blending with the gov wanting to show a lower number (cut off would be earlier).

    So my guess is 130 (Tuesday), with a big jump to 221 the following day.

    • Wow! Australia has another, of very few, true journalist. If you think water is boring, watch this. Jaw dropped.

      • Nothing compared to what is going down in western U.S. … get some water derivative exposure now – !!!!!!!!!!

      • SchiwagoMEMBER

        don’t get me wrong, the way the Nationals are selling out the resources of the land is mind-boggling and it beggars belief that there is no decent politician around to take on this disgraceful situation. also, I liked FJ,s in-fight with bruzz and the bin chicken. but it is simply laughable how the interview with Clair Miller (irrigator council CEO) has been conducted. Serious (sure, he is a comedian) journalism requires a bit more preparation and professional demeanour. Not impressed, shame, this is such an important issue.

  7. ErmingtonPlumbingMEMBER

    On the way to a job this morning my sparky mate calls up and asks if im getting my Covid-19 test today.
    Nope I say.
    You have to he says its on the Radio.
    If your going into people’s houses you have to get one today.
    Bull sh!t I say and I don’t think of this again.
    Spent all day on a job at Windsor, half of it under a 130 year old house and then in the afternoon when im almost home I see the Covid testing sign at the Oatlands seven-day Adventist church on Kissing point Rd and think Fk it Ill get a test.
    There was one car in front of me at the drive through testing and I was in and out in 5 mins!
    Having a beer with the boys on House Party afterwards Im told Im not allowed to work until the results come in.
    Bull sh!t I say, I ticked the no symptoms and no close contacts boxes so Im Cool to work.
    Half agreed, half didn’t.

    • Ronin8317MEMBER

      They’re really fast now. You should get your result early tomorrow morning.

    • reusachtigeMEMBER

      Chant said that is fine this morning. They just want all tradies to get tested but get that they need to work so it’s only if you have symptoms or been in contact with someone you need to stay home. But I always knew you were a super spreader!

      • ErmingtonPlumbingMEMBER

        My 3 requests for this kind of test were all denied.
        I was only able to get the oral/nasal test.
        Maybe next time.


        It’s the one covidsafe type of relations you’re still allowed to do so the buttswab is in high demand.

    • RobotSenseiMEMBER

      You isolate yourself until the test result is returned. I suspect they gave you written information saying this at the clinic.

      • ErmingtonPlumbingMEMBER

        No they did not.
        She simply took the form I filled in in the car and there was nothing on that form that said I had to isolate untill results.

        During our last shutdown I got tested at the same place with my boy and I got printed info that said I had to isolate,…but not this time.

          • ErmingtonPlumbingMEMBER

            Its an odd rule,…if it is a rule.
            Maybe if I ticked either box of having symptoms or close contacts they would have given me the need to stay at home piece of paper.

            But here is the rub.
            If I really needed to be somewhere tomorrow morning I just wouldn’t have had the test.
            I work for myself so its no big deal to shuffle jobs around as I see fit but for millions of people who live and work from pay check to pay check why would they volunteer to be tested, without symptoms or close contacts, if they are forced to not work for an undefined period of time after the test?

            I mean its just stupid if you want more widespread testing to occur.

            If “essential” workers are allowed (and expected by their employers) to work without a test why would you stop them from working simply because they took a test,…they weren’t even required to take!,….like I said with no symptoms or close contacts.
            People just won’t get a test.

    • Like his post down a bit of a scroll, If the Delta variant wants to test its strength it should come down to Greater Sydney. No, let’s see how it goes up your nose. We all want to see how good the vaccines are.

  8. Greg Khunt actually said that the deal with Pfizer to bring forward the scheduled vaccines was done before KRudd met with them!

    7:30 tonight was brilliant. The Morrison govt is being taken apart for its sheer incompetence.

    I can only see them winning one more term . Pathetic!