Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Optimism is creeping back across Asian stock markets in response to the broad moves higher on both sides of the Atlantic as the buy the dip crowd steps in, helped along by a surge in oil prices. Bitcoin is floating along above the $32K level thanks to some Elon-pumping while gold is still suffering after its start of week fake-out that has seen it fail to breach the previous weekly high as it now crosses below the key $1800USD per ounce level:

The Shanghai Composite is up 0.2% to 3575 points while the Hang Seng Index is finally finding a bottom doing the best in the region to be up 1.8% at 27695 points. The USDJPY pair remains stuck just above the 110 handle and unable to garner any positive momentum in the short term as it fails to beat the Friday night highs:

Australian stocks are moving higher again with the ASX200 lifting over 1% to close at 7386 points in a very solid breakout even as the Australian dollar lifts slightly higher, trying to get above its overnight session high at the 73.60 level going into the London open:

Eurostoxx and S&P futures are edging only slightly higher with the four hourly chart of the S&P500 showing price holding on above the 4350 point level but still not yet clear of the previous highs as momentum stays positive but not yet overbought:

The economic calendar is US centric tonight with initial jobless claims and existing home sales data for June.

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Comments

  1. The Travelling Phantom

    Another day with stupid Scomo, ends with a cheap
    apology, even rudd worked to get vaccines! And we get sorry
    from him

    And all this roh rah with coats and anna.. don’t know what to make of it

    • Mining BoganMEMBER

      Coates has been around too long to be so unprofessional as to behave like that in public. It smells like an attempt to squeeze PluckaDuck out of the kudos and the limelight, giving someone else the chance to step in.

      Just have a look around Morrison State Media to see who that will be.

      • Ronin8317MEMBER

        Even though she doesn’t want to, Annastacia has to show up to the opening ceremony. Otherwise people may ask questions like ‘why the heck are we having an Olympic in the middle of a pandemic?’

      • The Bernays knob will have its frequency change to some lot, grasping for control, and spaz out all the others so the unwashed keep on trucking …. some times the light is shining on me … and then other times I can barely see …

        Grateful Dead – Truckin’ (New York, NY 10/30/80) (Official Live Video)

        Top grossing band in U.S. history, got its start handing out acid to the first few rows back in the day and ended up as a youthful favorite of the elite offspring in the U.S. well into the 2000s, do browse the parking lot for a good time …

    • Felt like an organised event. She wanted to go to the Opening Ceremony but had been under fire and images of her partying on while most of the country is either in lockdown or unable to travel wouldn’t be great. Cue Coates “ordering” the Premier to attend whilst said Premier meekly acquiesces as she doesn’t wish to offend anyone.
      Everyone thought it would be a hoot no doubt. Coates would come across as his magisterial self. Palaszczuk would get to do what she always wanted to do (go to the Games) while not enraging the imprisoned plebs and everyone would have a laugh about it at the after party.
      Somebody forgot the misogyny angle and suddenly Coates is back-pedalling at a rate of knots.

      • Mike Herman TroutMEMBER

        Agree with that, He was trying to clear the runway for her…. overshot it with his attempt at humour….

      • The Travelling Phantom

        one day i will catch the source of the leak that gives you information and hang them from their [email protected]
        just like how they discovered the leak to that math genius who predicted Sydney cases number

  2. Congratulations to the bin chicken being announced as the official 2032 Brisbane olympic mascot.

    • The Travelling Phantom

      a snap shot of the news in 2032:
      *An Olympian dies in a crocodile infested waters
      *5 Olympians complain to have them all put in a sharing apartment of 2 bedrooms
      *A man called Reusa of unknown surname manages to break the role of no sex in the Olympics by sleeping with 8 athletes

      • 492 athletes from 27 countries seek asylum to take advantage of Australia’s gold standard MMT.

      • The revised modern pentathlon (be be held in FNQ):

        – skull a XXXX long neck
        – swim across a croc infested river
        – shoot 5 roos
        – catch a goanna
        – change all 4 tyres on a Landcruiser by yourself in the midday sun.
        – skull another XXXX long neck (that one is a bonus leg).

      • haroldusMEMBER

        A man called Reusa of unknown surname manages to break the role of no sex in the Olympics by sleeping with 8 athletes*

        *7 trans female weight lifters and one high diver “accident”.

        Note: reusa’s role at the olympics was two-fold:
        i) dressage competitor
        ii) Brazilian beach volleyball team domestique

    • Do they have bin chickens in Bris Vegas? they certainly are at plague proportions in the Emerald City.
      I like it though!

      • Bin chickens everywhere in the CBD and UQ. Also scrub turkeys. Might be a fight to the death; winner becomes world famous in plush toy form.

        • oooh why not both?

          A bin chicken and a scrub turkey (or bush chook / bush turkey as we sometimes call them in NSW).

        • Goths. Something about the heat in Queensland makes goths an ever present form of rebellion. Birthday Party’s ‘Release the Bats’ could be the Olympic theme song.

          • Those kids in black at the Queen St HJ’s when I was younger always had my respect. Tough, tough gig.

  3. FCKN!! Went to the Servo to pump the tires on the EMtb & FMD they even make the valve stems & valves different so I now HAVE to buy a friggin pump as well. Once upon a time I thought it was a plain simple op – but Nah not now. Standards for what? I’ll be stuffed when they stop the boats.

      • I don’t know, but they’re not shrouded like a car, the threaded needle (that I’d expect to normally push on to let air out) sticks out further than the stem, & as soon as I undo a small knurl at the end of the stem, it unscrews the whole valve. Leaving me to get home with a soft wobbly front wheel – downhill for 2 kays @60kph……

        • Mining BoganMEMBER

          Presta. I’d say you’ll get used to it but Lovey still chucks a wobbly when she has trouble pumping her tyres up, swearing and carrying on about how simple it used to be. She never had to pump her tyres up. EVER. Stupid bike.

          Oh, hang on, is it an old Dunlop valve?

          • I’ll ask the kids who sold it to me, they know them through & through.
            Sold the MT09 today – 323GTR still to go. I’m not taking to new stuff easily, gimme anything from the 90’s that’s not full of wires or smartie design that’s not easy to work around without special tool 101 & I’m sweet. But yeah, I’ll get used to it. Better to find out while close to home than stuck somewhere…… Starting to feel dated in mid 50’s……

    • Most floor pumps have dual valve settings. There are usually a few for sale up in Gumtree that are way cheaper than shop or online.

    • Yep. Norway girls should cop a fine. They need to promote the sport!!

      Takes me back. I went to the gold & bronze medal womens handball match at the sydney olympics. Norway, Denmark were 2 of the teams from memory. Oh my.

    • The Travelling Phantom

      what changed to change your mind? the ASX is just started to warm for the vertical climb…UP! UP! just like jeff pesos rocket

      • The Traveling Wilbur

        Good question. Market interest in piling in seems to have been fulfilled for the week. So no more up, up and away. If I’m wrong, I’ll cry into all the extra Japanese beer money I just cashed-out.

        PS Closing a long.

          • Went to Boston for the L.A.Olympics and whilst there called into a Zoo Mass radio call back about the good times in L.A. …. they were not expecting me putting a stinker on it all …

  4. Time for Reusa to put together the australian men’s netball team (assuming the netty girls are going to be pushing hard for it to be an olympic sport in brissy).

  5. TailorTrashMEMBER

    124
    124
    124

    The bidding is with you sir

    Do I hear 150 ?

    150
    150
    150

    Come on ladies and gentlemen you’ll never get a better pandemic than this

    150
    150
    150

    This a highly sought after virus slum environment constructed in the last 20 years …150 is a steal …you’ll never get another opportunity like this again

    Ok I’ll help you out

    I’ll take 20 K bids

    Come on ladies and gentlemen don’t miss out and regret
    your decisions .

    You could be a proud owner as part of this pandemic so don’t hold back

    YES !…..we have a bid from up the back …
    144
    144
    144

    Thank you Mr Reusa … nicely played Sir

    Do I hear 164 ?
    164
    164
    164

    Ladies and gentlemen you’ll never get another opportunity like this …..

    • Mining BoganMEMBER

      137, the number of starts Mick Doohan had in motorcycle GPs. He won 5 championships in his career, the same amount of months Sydney will suffer through lock down.

    • It’s nice we can have these things again once tik tok guy was outed. I’m going for a little lower – 105.

  6. BradleyMEMBER

    Heard a big banker on the ABC today saying they haven’t foreclosed on anyone in the last 15 months! How are vultures meant to pick up bargains ? I am reminded of the saying again- ” Capitalism without failure is like religion without sin “.

  7. Jumping jack flash

    Scomo and joshy may get another opportunity to have a crack at doing stimulus right due to Delta!

    Mr. Qantas having a whinge, and the government will certainly have to listen to him.

    Triple the Jobkeeper and this time dont forget to tell the businesses to actually hand it all out to their workers using any excuse or method necessary. I’ll start them off: Leave a bucket of cash in the lunch room…

      • Jumping jack flash

        End game bankers’ utopian capitalism: inflating the debt away…

        in preparation for creating and selling even more debt to everyone.

    • Funny a house in the Hamptons on average is $1.4m. that’s a Sydney or Melbourne house. So Australian’s must all be very rich like the wealthiest in the US are.

      • Jumping jack flash

        You’re right! We must be all super rich! Look at how much debt we’re all eligible for.