Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Risk sentiment has soured a little here in Asia following the reaction to the latest “transitory” US inflation print overnight that sent Wall Street back a few pegs, with Asian stocks retreating from their once firm better start to the trading week. Bitcoin has cracked below the $32K level after stalling previously, making a new three week low. Gold is holding on above the $1800USD per ounce but is still hitting overhead resistance at the $1810 former rounding top pattern apex on the four hourly chart:

The Shanghai Composite is down over 1% to close at 3529 points while the Hang Seng Index has also pulled back smartly, down 0.6% to 27784 points. Japanese stocks are also looking wobbly with the Nikkei 225 closing 0.3% lower at 28608 points as the USDJPY pair pulls back ever so slightly from its rebound trend, remaining just below ATR trailing resistance at the 110.50 level:

Australian stocks are the only ones to put on any runs as the Westpac consumer sentiment survey was very solid indeed, the ASX200 closing 0.3% higher at 7354 points. Meanwhile the Australian dollar is trying to bounce back from its US inflation induced falls overnight but is looking shakey here going into the London open at just over the mid 74 level:

Eurostoxx and S&P futures are pulling back here with the four hourly chart of the S&P500 retracing back to last week’s mid session high at the 4350 point level, which has so far proved solid short term support:

The economic calendar now adds the UK inflation print to the mix then the continuation of the new US earnings season.

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Comments

  1. The Travelling Phantom

    Another day, and seems Melbs in the footsteps of Sydney
    How do you feels Sydneysiders for the extention of the lockdown?
    how many more weeks lockdown and how many cases tomorrow???

    • 2 more weeks and tomorrow, who knows? 86 cases? They don’t seem to like triple figures.

      • The Travelling Phantom

        what amazes me that Melbs found 7 in one hit and Sydney keeps finding small numbers
        like trickle down effect

      • The Travelling Phantom

        Extremest!

        Edit as a side note:
        why dont you write an article and share with us in the weekend readings how to fix a tab, unblock a toilet etc ,and hopefully we can send you bitcoins or something
        hopefully Mig can lend me some

        • Also: how to drain the lizard with the left hand while texting with the right.
          or vice versa.

        • The Travelling Phantom

          Mate! Stick with your lucky numbers you’ve used the last few days might jackpot tomorrow!

    • Mining BoganMEMBER

      129, the number of points Michael O’Connor scored for NSW. Included in this tally was 11 tries, the same total of weeks that Gladys will have to lockdown Sydney for due to believing her own bullsh!t.

        • Had one of the best nicknames when he was playing rugger. He and his close mate Chris Roche were called Null and Void – apparently neither were sparkling conversationalists.

    • I think everyone is really wishing Gladys pulled the pin earlier.

      This one could pop back up so I say 108.

    • How do you feels Sydneysiders for the extention of the lockdown?

      I love them, I think they’re great, knew we would lockdown again after the last ones were over, prepared myself for current lockdowns, using a simple formula:

      next lockdowns + crazytown^10 = make sure you’re prepared

      Many others I know, just a few actually, are about to go hyperbolic nuts.

      how many more weeks lockdown and how many cases tomorrow???

      At least, or at most into September. Depending on vaccination numbers. If they’re high, the rip cord will be pulled, and everything opens up to a misery awaiting.

      Tomorrow, 108.

      • The Travelling Phantom

        Well Done For Being Prepared! Smart man/woman/child/adult/ or in between

      • The Travelling Phantom

        agree not painful at all , lost the virginity i mean novelty to lockdowns ages ago

        • You might want to wait until migsie’s had a few sherberts before locking that answer in.

      • I just hope to get the motor pulled from my RX7 which is stored at Mums place (more than 5kms from me) so that if we have a lockdown I can entertain myself by pulling it apart and figuring out what I need to do in order to rebuild it.

    • I won yesterdays comp, 2 from 4 now although I was way wrong on the other days. Tomorrow with a massive spike in Fairfield tests I predict 134 cases. The lockdown will never end, it will be go forever until they vaccinate themselves out of it so probs around November.

  2. haroldusMEMBER

    Yes yes [email protected] blah blah blah it’s fashion dahhhling

    Besides being antis3mitic and hom0phobic, the fashion designer was also a [email protected] collaborator and ultimately agent — code-named ‘Westminster’ after an affair with the Duke of Westminster.

    But Arzalluz says there is only passing reference to this in the exhibition, within a timeline of Chanel’s career.

    In the NGV’s press kit, it appears in translation as:

    1944: Gabrielle Chanel is arrested at the Ritz by the French Forces of the Interior because of her relationship with a German officer, Baron Hans Günther von Dincklage. She is released after a brief interrogation. For the next ten years, Chanel lives away from the world of fashion, dividing her time between Lausanne, Paris, and La Pausa (her villa on the French Côte d’Azur), with trips to Italy and the USA.

    https://www.abc.net.au/news/2021-07-14/gabrielle-coco-chanel-ngv-exhibition/100289482

  3. FUDINTHENUDMEMBER

    Woot. Teacher in baccus marsh tests positive. Looks like its a regular ole syd v melb lockdownathon!

  4. Arthur Schopenhauer

    Going to buy a truckload of toilet paper after dinner. Toilet paper 🧻. Need more toilet paper.

    How many weeks of lockdown for Melbourne?

    • Don’t worry, Brisbane won’t be long if they keep their current nonsense up. Origin 3 on the coast tonight and leaving the borders open for healthcare reasons for northern NSW. Like Gladys they think what worked for Alpha will work for Delta…….they are depending on luck now.

      • Regional travel to NNSW from Syd virtually non existent

        No cases in NNSW in a very long time

        So it makes complete sense

        • Just so long as they keep the border open for another 48hrs. I’m trying to get a nice universal mill moved from the Sunshine Coast down to my farm in NSW. Trying to transact interstate purchases is kinda fraught just now. Luckily I managed to get Nick’s to deliver a couple of dozen Jamesons and another ten dozen of assorted reds a week ago, so all set for when it’s time to lock the front gate…

          • Good luck

            I suspect some AFL games might be moved – hoping Melb Hawks gets moved to Metricon (I’m being selfish, I know) so I can go.

            The GC golf courses/shops still accessible, phew!

    • The Traveling Wilbur

      Your behind.

      Way behind. Me on that one. Finished topping up the canned farts and tissues an hour ago. There’s been so much TP in the loo since last month it could be used as a spare bedroom.

      Panic early, panic often.

      • I always keep 80+ spare rolls in the shed. Fkkn mice started using it for nest lining last month 🙁

        • Time to build a deep pantry in the house for the missus.I converted one of the small bedrooms for the wife and all her canned produce, and extended canned goods, household items, rice, beans , bulk staples are organized.Just pick up a basket as you walk in.Helps a lot, as the nearest shop if you forget an ingredient is a 2 hour round trip….

  5. My wife is trying to book her 73 year old mum in for Pfizer vaccine, she has diabetes, none of the GPs will take her, apparently they need to record it with the government, only giving it to younger people.
    Is this just happening in NSW?

    • Jumping jack flash

      Maybe. My diabetic father who is 80something didn’t have a problem here in QLD. Second shot last week.

    • The Travelling Phantom

      Hurry Up Board that ship and search it !!!! they might be carrying Holt onboard

    • haroldusMEMBER

      Comments unkindly suggesting that bombarding it with Aussie Life Hacks and Influencer comments will have it gone straight away.

    • haroldus, must you link very important news articles from the Daily Mail? Once again I couldn’t read it thanks to all those soft p0rn links down the right column. In case you missed, did you catch, Surfer Ellie-Jean Coffey’s sister Ruby-Lee comes out as b1s3xual only a day after creating her own X-rated website, link? You’ll see what I mean, I won’t provide the link, it’s there.

  6. Ronin8317MEMBER

    Another case in Melbourne. Full lockdown for the weekend.

    Why are removalists from a red zone allowed to cross state boundaries in the middle of an epidemic? It makes no sense what so ever.

    • C'est de la folieMEMBER

      I am down in Geelong, but I can tell you there a lot of people about where I work asking precisely that question today. Why would removalists get a pass?

      • DodgydamoMEMBER

        …because if you’re committed to moving house (eg property transaction settles and you’ve gotta be out) there’s not much else you can do but move? These things are usually committed to some time in advance and would be extremely difficult/costly/disruptive and mental health destroying to delay. Why they couldn’t follow the rules a very different matter

        • How is that different to citizens from overseas needing to come home ?.

          Bloody hypocritical standards in this country which is why we are heading another fcking lockdown.

    • The Travelling Phantom

      McGowan would have locked down the borders ages ago, Dan got soft after the stairs fall

    • I reckon its 70% lockdown chance, its killing my business but id rather be in Melb now than Syd. Lets hope for a miracle and no lockdown needed but I doubt it.

      • Mining BoganMEMBER

        If you take “commie rubbish”, change a few letters around, chuck some out and bring a few new ones in you get “common sense”.

        • reusachtigeMEMBER

          Just extreme socialists blinded by their hate of freedom loving Liberal Nationalists!!

    • Fishing72MEMBER

      Must hurry the plebs up with the vaccine drive. Incite urgency or else No Migrants For You!

    • Ronin8317MEMBER

      Only if you want everyone under 40 in Australia to drop dead. Even one does is only 15%!!

    • FUDINTHENUDMEMBER

      Why does everybody ignore the denominator? Don’t they teach division at schools here anymore?

  7. FUDINTHENUDMEMBER

    Won’t somebody please think of the children!!!

    “Many more adolescents could become hospitalized, Hotez said, adding up to 30% of children infected will develop long-haul covid.

    Scientists are now learning about neurological consequences to long-haul covid, Hotez added. Some studies have shown impacts on the brain of people who have been infected with the virus. One study in April found 34% of Covid-19 survivors received a diagnosis for a neurological or psychological condition within six months of their infection.

    “What you’re doing is your condemning a whole generation of adolescents to neurologic injury totally unnecessarily,” Hotez said. “It’s just absolutely heartbreaking and beyond frustrating for vaccine scientists like myself to see this happen.”

    https://www.google.com/amp/s/amp.cnn.com/cnn/2021/07/14/health/us-coronavirus-wednesday/index.html

  8. reusachtigeMEMBER

    With the second teacher testing positive down near Geelong maybe it’s Victoria that has spread this virus around! Guess youse lot will be under house arrest pretty soon.

    • Mining BoganMEMBER

      Even with the better team NSW always carry a defeatist attitude about them. They were behind by two but well on top when Freddy called foul.

      • It is never Freddy’s fault. First it was Latrell’s fault, Cody Walker, Luke Keary, Cody Walker again.

        In last year’s loss to “the worst queensland side of all time” Freddy played half the NSW team out of position but the loss was not his fault. Freddy’s narcissism annoys me to the point of wanting Queensland to win.

        And just to be clear I am not referring to myself in the third person 🙂

    • Despicable. Frankly, I don’t think anyone is listening to him anymore. Bloke is seriously deranged. They’re trotting out Frydenberg to front the media and he is waaaaaay out of his depth.

      Have noticed Albo is getting A LOT more airtime lately.Perhaps Uncle Rupert has told his minions to slowly walk away from SlowMo?

      • Steve Davidson

        Rupert needs to press the demolish button on Scomo like he did with Trump, he’s gone too far

    • RobotSenseiMEMBER

      It’s not so much the complete incompetence that gets me (though it does), the lack of higher cerebral function, or his profound inability to appropriately delegate. It’s the pathological lack of insight he has; his inability to reflect on his failings and learn from then. He is forever stuck in a lake of [email protected] from which he has no chance of escaping.

      Or in the famous words of Homer J. Simpson: “well excuse me for having enormous flaws that I don’t work on”.