Macro Afternoon

See the latest Australian dollar analysis here:

Macro Morning

Asian stock markets are listless going into the end of the week due to the absence of Japanese traders and continued concern over delta variant outbreaks in the region. Bitcoin however is lifting sharply this afternoon, almost tripping over the $33K level to make a new weekly high while gold is falling back again to the $1800USD per ounce level:

The Shanghai Composite is selling off quickly, down 0.6% to 3551 points so far while the Hang Seng Index is getting back to the business of breaking bad, falling nearly 1% going into the close at 27448 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 basically unchanged as traders take on board the local lockdown extensions with the ASX200 still at 7386 points as the Australian dollar also is little changed at the 73.70 level from its overnight moves, unable to breach overhead ATR resistance on the four hourly chart going into the London open:

Eurostoxx and S&P futures are again edging slightly higher going into the European open with the four hourly chart of the S&P500 showing price wanting to extend past the previous weekly highs at the 4380 point level as momentum equally edges into the nicely overbought phase:

The economic calendar finishes the week with a slew of flash PMI manufacturing and services PMI for Europe and the US.

Have a good weekend and keep your chin up if in lockdown….

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Comments

  1. Frist?

    An early one for Friday. Hope all the Sydneysiders are enjoying the prospects of this getting extended. Thankfully I am able to get cocktails delivered from drnks and my local bars in Paddo do some decent takeaways.

    • Between the Qantas hostie , and all the sports games and other mass events we have going on in Qld, with people sneaking over the border for weeks, I give it till the end of next week until we are joining the lockdown club here in Brisbane.

      • Wonder how it got to Byron.
        Sydney folks on weekend (yes flights still arriving BNK) or someone down from QLD.
        Spewing as it means can’t get to Gold Coast Dees game. (Put away thy Stradivarii!)

        • Morrison wants the ‘army on the streets’ to enforce the western suburbs lockdown.
          https://mobile.twitter.com/SkyNewsAust/status/1419086589842530304

          There is 1.3 million third world non Australian foreign nationals out there.
          Imagine the Australian army in Lakemba or Fairfield. or the other third world migrant incubation & transmission zones.

          It will need to be like a foreign expeditionary force – complete with Afghani & Syrian, Lebanese / Pak / Bangla & Indian interpreters.

          Literally an invasion – all the Australians there have been ethnically cleansed out long ago.

          -/-

          Now this is from the same Morrison that let 455,000 mainland Chinese fly into Australia.
          When the Chinese virus first emerged, over 13 million Chinese were assisted by the CCP to flee China & spread it globally.
          Many untested or evading checks & controls by flying to stepping stone countries to ‘get into’ or ‘get back’ into Australia to make sure their Centrelink benefits weren’t cut off for being out of Australia for too long.

          Chinese mainland born arrivals into Australia- from initial known outbreak to March 2020.

          The top countries receiving airline travellers from 18 high-risk cities in mainland China include : Thailand, Japan, Hong Kong, Taiwan, Australia.

          Australia – 455,000 mainland Chinese arrivals in the period Jan – Mar 2020.

          Source: WorldPop Project
          Ref link
          #Jan27 #ChinesePneumonia #Wuhan #GlobalOutbreak #ccp #china #WuhanCoronovirus #WuhanPneumonia

    • ErmingtonPlumbingMEMBER

      To keep excessive alcohol consumption under control it is my general rule of thumb never drink alcohol alone.
      it’s something I nearly always do socially.
      Thanks to the houseparty app though I’m drinking as much piss as ever!
      Ive been on iit almost every day of shutdown and have merged my High school Houseparty mates with my Bowlo/Bizzos mates so We’ve always reaching the 8 at once maximum number of participants allowed per group.
      Maybe we should start a group called MBalcoholics.
      I’ll drop in for a beer fer sher

      • My rule is I won’t have more than 2 drinks alone!!

        But then again I’ve never used houseparty – I need to check out that app. I’m only just on whatsapp from the last lockdown …

      • Each person is a miniature society. – Novalis ( German writer)
        Therefore drinking alone is impossible.

    • RomulusMEMBER

      Posted this response in one of the earlier articles.

      What this article misses is that:
      1) Scomo got Pfizer prior to all the issues with AZ coming to light. Once the questions on clotting came around it just re-enforced the public’s view that Pfizer is good/AZ is bad.
      2) Trust in the government’s management of the pandemic is eroding. Especially when people like Coatsworth are just happy to parrot whatever the government line is without being critical of the govt’s clear failures. Every time I see Coatsworth – I see the smarmy political ladder climber who would say/do anything to get ahead. I have no doubt the PM’s handlers got him to pen this opinion piece as cover for Scomo’s awful decision making with respect to the vaccine procurement/rollout.

      • ScumMo’s gas-lighting of ATAGI simply draws attention to the fact he is the “Emperor with no clothes.”
        The pooch has been screwed on AZ. ATAGI only advises – it doesn’t make the decisions. People have collectively decided that they don’t want it.

        There are even reports of residents from Greater Sydney travelling to regional areas to get Pfizer.
        https://www.abc.net.au/news/2021-07-23/residents-from-greater-sydney-vaccine-shopping-beyond-postcode/100317014

      • Romulus – your first point is only partially correct. I can remember that when the scrotum got his pfizer shot it was commented on at the time (I think the Chief Medical Officer got AZ) that not only did he queue jump but he got the better vaccine. Even back then AZ was viewed as inferior / more risky than pfizer even though ATAGI had not raised their concerns. If I had to guess I think at the time some European countries were picking up some issues with AZ.

        • Triage – if I recall correctly around that time there was also doom and gloom for AZ not working with the South African variant, not really sure what happened to that variant, it dropped off the news radar quite quickly.

      • Here is my prediction, when a retrospective analysis is done years from now there will be no appreciable safety difference between the AZ and Pfizer vaccine. In my view the difference at the moment comes from the UK basicallly having a centralised reporting system via NHS that is actually reasonably efficient. Compare this to the US system where the data has to filter through numerous agencies before getting somewhere it can be reported.
        Another way of looking at it, suppose you get the vaccine at your local CVS Pharmacy and a couple of weeks later you have an adverse event/reaction, who is going to be doing the follow up?
        The way everyone is acting waiting for bespoke Pfizer vaccines is ridiculous, its not like there have been no deaths post Pfizer vaccinations.

    • Nick would have more credibility had he not appeared on that vaccine add with that horrible 80s p0rno hairdo.

      • The Traveling Wilbur

        What does an 80s p0rn hairdo look like?

        PS He would have more credibility if he was capable of critical thinking. Don’t know if he’s a sellout or not, as he seems to genuinely care about patient outcomes. His old boss on the other hand… Now that’s a ladder climber 60s style. fuppet extraordinairé that bloke.

        • rofl just this week he said we should let her rip with 50% vaccinated. A game that would result in deaths up in the 6 figures. The ex deputy is a shill like his boss.

          • The Traveling Wilbur

            Yes, I know. But when he says fuppety things like that I believe it sounds earnestly genuine. Whereas the ex boss is an outright moveable feast of ‘opinion’ (i.e. a true shill).

            So useful idiot or shill, you can decide for yourself.

    • Mining BoganMEMBER

      He’s a Scummo mouthpiece, has been a let it rip supporter from day one of WuFlu infestation. I think he was the big no aerosol transmission bloke too so he’s bumbled it.

      Plus he’s a good mate of Porter. Puts me off that does.

  2. As I wrote in another article, the poor in India and Indonesia and worn an unimaginable financial burden over the past 18 months. People with nothing, making enough to live day to day now have nothing at all for food. The scale of the suffering we will never really understand and no-one cares at the end of the day only about 90 year olds that have had pampered lives.

    How much of this increase the deaths in India and Indonesia is due to people being more susceptible to illness due to 16 months of incredible stress and instability for people who live day to day, no money so not getting enough nutrition. We know that stress is associated with much increased susceptibility to illness that’s proven.

    • ErmingtonPlumbingMEMBER

      What kind of human tragedy is not in some way associated to the massive human over population on this this planet.
      In Areas of abundant Tropical rains and associated high crop yields huge explosions in populations were always going to occur in these areas,…especially with the introduction of antibiotics and other other modern health services. Sure birth rates across the world are falling but in some areas they haven’t been falling fast enough.
      Indonesia has over 13 000 Births per Day and only 5,000 deaths per day. This is not sustainable in their sovereign archipelago of 276 million people.

      • The Travelling Phantom

        Hence Boom adopted the philosophy of nature will find its own way to cull the excess

      • When my CFO told me we are not trying to solve world hunger here, I replied, as well we shouldn’t, it keeps the population in check

        • The Traveling Wilbur

          Some examples:

          – A Spice Girls concert where the autotune was broken.
          – Having to fork out tax dollars to support Beetrooter on his rootabouts.
          – Watching a second Q&A episode.
          – Following up Tony Abbot with Scumo as PM.
          – $50.00 haircuts for men at barber salons.
          – Listening to “Don’t buy now.”.
          – A Spice Girls concert. 😉

  3. New Zealand’s lethal housing debacle …

    Housing: Eight in 10 New Zealanders believe homeownership impossible – report … Kirsty Wynn … NZ Herald

    https://www.nzherald.co.nz/business/housing-eight-in-10-new-zealanders-believe-homeownership-impossible-report/ISTRJO3ORR5Z2GJARQU37SY4ME/

    The dream of homeownership is fading for many New Zealanders and a new report has revealed eight in 10 feel it is now impossible to buy a home.

    With a post-Covid surge to already high property prices, worry among New Zealanders is growing, according to The Kiwi Family in 2021 report, commissioned by OneChoice. … read more via hyperlink above …

    House prices a risk to banks, S&P says … Susan Edmunds … Stuff NZ

    https://www.stuff.co.nz/business/125844895/house-prices-a-risk-to-banks-sp-says?cid=app-iPad

    Ipsos on the issues … Kiwiblog

    https://www.kiwiblog.co.nz/2021/07/ipsos_on_the_issues.html

    Ipsos have done a poll on what issues are of most concern to NZers. The top ones are:

    1. Housing 53% ( 19% from a year ago)
    2. Health 27% (nc)
    3. Cost of living 27% ( 4%)
    4. Poverty 26% (nc)
    5. Economy 22% (-18%)
    6. Crime 21% ( 5%) … read more via hyperlink above …

    14th Ipsos NZ Issues Monitor – June 2021

    https://www.ipsos.com/sites/default/files/14th Ipsos New Zealand Issues Monitor_ Report.pdf

    • Just get your literal son of a fraudster Finance Minister to authorise the printing up of another 30% of GDP, should sort the problem right out.

      • Jumping jack flash

        THIS!
        Just get it done. We all know this is the only solution left.
        Nonproductive debt is DEFLATIONARY! If the debt isnt growing fast enough to pay its own interest then governments have to step in. Whatever excuse they use, COVID, infrastructure, homeless, the climate, whatever, doesn’t matter all that much in the grand scheme of things. The only thing that matters is that the interest gets paid.

  4. Mining BoganMEMBER

    There must have been another positive from the Wallabies game. Just got my third test and isolate text.

    Will I get one for every positive? Dunno how it works.

    • The Traveling Wilbur

      You got a third test?

      That’s at least one more than most Wallaby players usually get!

    • Arthur Schopenhauer

      https://www.snopes.com/fact-check/michael-yeadon-vaccine-death/

      Thank goodness we have the AZ in Australia.

      The video kicks off with the falsehood where Dr Michael Yeadon, is described as the former “Vice President and Chief Science Officer of Pfizer”.

      Fortunately, his theory that a booster shot will kill, will be tested in other countries before people get their first shot here.

      Phew 😮‍💨

      • Mike Herman TroutMEMBER

        I knew I could rely on an MBer to dig further. Thanks. While the depopulation part seems far fetched I think some of his other less dramatic points seem valid…

        • The FNG.MEMBER

          “Mandated Vaccines”
          BOO!!!
          “Vax passports and social credit scores”
          BOO!!
          “Totalitarian control”
          BOO!!
          “Mass depopulation”
          ……….yay!

      • Mining BoganMEMBER

        Be that as it may, it’s not a good look for PM Scummo being too scared to face a pollie with only half a dozen years experience.

        The fake man be rattled.

        • Arthur Schopenhauer

          Does his subconscious every pierce his defenses and say, “well he’s got a point, c#nt!” ?

    • “Pathetic Murdoch mudslingers tried bullying her not to go, but the Premier needed to formally present Australia’s case. Yet Murdoch silent on the LNP mayor & federal minister going too. Total hypocrites”

      I don’t think Kevin understands hypocrisy. Both the LNP mayor and federal minister haven’t locked the Qld border and reduced the international arrivals cap, whereas the Premier has done that and then travelled herself. And the point stands that Bris-Vegas was the only real nominee for 2032 … Coates was providing air-cover for AP to go. He would’ve got it over the line either way.

    • Mining BoganMEMBER

      Scummo released a statement yesterday thanking himself and the Unknown Minister Colbeck for securing the games. Plucka never got a mention.

      They’re trying to erase her from history.

    • Its surreal to hear the far right sling totalitarian at Rudd when they are the most authoritarian ideologues in modernity, not to mention, completely and unabashedly a bunch of proselytizers that ignore – any facts – which might upset their agenda in controlling[tm] society in an anti democratic manner. Best bit is they are the biggest corporatist boot lickers eva ….

  5. The Travelling Phantom

    “We need a ring of steel around Sydney so that the virus is not spreading into other parts of our nation,” Mr Andrews told reporters on top of offering contact tracers.
    On the other side Gladys said: “Please know that we are not the type of government, and I am not the type of premier, that is going to be asking citizens to do things that we don’t think are going to have any effect,”

    • The Travelling Phantom

      Was too young when Wayne was king then fell off the throne by sleeping with his mates wife if that was the reason, but then Garry Lyon also slept with his mates wife…
      Anyway seems it’s a rife culture and we only know when they fight

      • Mining BoganMEMBER

        The media like to make the affair the big story, the hurt and forgiveness.

        They don’t like to talk about him smashing a glass in his partner’s face then kicking a female cop in the head when they tried to arrest him.

        • He would have got 2 years in Australia though for leaving the country without a valid exemption.

    • Fkn why does she keep touching her nose and rubbing the table like she wants a nummy … all whilst her eyes are rolling around in her head … I’m getting Calif flash backs at parties ….

      • Arthur Schopenhauer

        Touching your nose like that is a common sign of dishonesty. Notice how it happens after particular statements. It indicates she doesn’t believe what she just said.

        It can also be observed in a listener who might nod, and touch their nose, revealing they don’t believe what they are hearing.

        • The Traveling Wilbur

          Also, if the listener sticks their fore and middle fingers up in the air at you, or hits you in the face, that may too indicate that they don’t believe what you’re saying.

    • FUDINTHENUDMEMBER

      lolololololololllll “It’s much easier to lockdown because you don’t have to worry about anything..” – GB

      Hows not worrying about anything goin’ Glady’s, walk in the park eh?

    • Pretty sure in that interview she was also asked about giving vaccines to Victoria, to which she outright refused. My how the wheels have turned.

    • The Traveling Wilbur

      Should several of that cohort catch it, they might finally understand what the term “vulnerable group” really means.

    • drsmithyMEMBER

      Anyone know if Bolt, Jones and others from Sky have decided that since it’s just the flu they won’t get the jab?

      Pretty much guaranteed they were Pfizered as soon as humanly possible.

      • Jones spent the first 6 months of the pandemic holed up in his luxury Southern Highlands compound, broadcasting from there.

      • Especially after seeing Boris Johnson close to being sent off to the eternity when he caught it last year.

      • And Bolt found leafy Malvern too hot to handle so moved down to Somers by the Sea with his own studio so he does not have to mingle with the plebs.

        He just picks up the direct line from Rup on what he has to say.

    • Listened to that yesterday. They never mentioned any bad things. That Martin guy even said that if it’s good for the migrant it’s good for Oz citizens! No mention of diminishing living standards & opportunities for an existing Oz citizen.
      Basically it was a very poor analysis & as I’ve said before a 1st year Economics student would do much better analysis.

  6. Arthur Schopenhauer

    “I’m furious that six wankers from Melbourne thought they could gamble with Territory lives for a holiday and a wedding,” Michael Gunner said.

    RING OF STEEL!

  7. Welcome to the Keating kunts “azianised australia” with azian sized dog boxes and azianized living standards

    • TailorTrashMEMBER

      Watched a horror movie, right there on my TV
      Horror movie, right there on my TV
      “Horror movie, right there on my TV
      Shockin’ me right out of my brain
      Shockin’ me right out of my brain “

  8. haroldusMEMBER

    Here’s a little thought experiment.

    Imagine if the Ruby Princess infestation (allegedly caused by allowing the release of guests which included family of a senior fed pol) was the delta variant.

  9. If hanging about here doesn’t fill the need of you anon normies for crazy there’s a new documentary series about Q anon out. It’s called Q: Into The Storm.

  10. The 7+ website is having technical difficulties and is currently unable to show the Olympics opening ceremony. It’s a bit of a warm up for Brisbane 2032.

  11. Sydney Australia: … Covid lockdown protest erupts …

    … how clever have the stalled vaccinations and covid elimination policies been ? …

    Wild scenes as Sydney anti-lockdown protesters clash with police … News com au

    https://www.news.com.au/world/coronavirus/australia/wild-scenes-as-sydney-antilockdown-protesters-clash-with-police/news-story/e5b47e5103e55a7c6ebd1eb6d0094a78

    Live Update 1.25pm … Tram services halted as protesters block Sydney’s George Street … Megan Gorrey … Sydney Morning Herald

    https://www.smh.com.au/national/australia-covid-live-updates-cases-soar-in-nsw-as-victoria-braces-for-more-delta-variant-infections-20210723-p58cfv.html

    Gladys Berejiklian has ‘lost control of reality’: Alan Jones … SkyNews

    https://www.skynews.com.au/opinion/alan-jones/gladys-berejiklian-has-lost-control-of-reality-alan-jones/video/b910bb5d5c03add4fe56fcdc7db8c5ec

    Global Daily Covid Vaccination Tracker … Bloomberg

    https://www.bloomberg.com/graphics/covid-vaccine-tracker-global-distribution/

  12. New Zealand housing debacle: When do politicians intend to genuinely start acting ( sanctimonious talk is not action ) in the wider public interest ? …

    … Hasn’t the blatant dishonesty and incompetence gone on long enough ? …

    … Journalism at its best …

    The houses of Parliament: MPs rack up millions in capital gains as housing affordability crisis worsens … Charlie Mitchell … Stuff New Zealand

    https://www.stuff.co.nz/national/politics/300357291/the-houses-of-parliament-mps-rack-up-millions-in-capital-gains-as-housing-affordability-crisis-worsens

    ANALYSIS: MPs have pocketed $50 million in capital gains from their property interests in the last year amid a growing housing affordability crisis, a Stuff analysis has found.

    It represents a significant increase in wealth for many elected representatives, around 95 per cent of whom have land or property interests. The vast majority of MPs are accumulating more wealth from their properties than from their salaries.

    New Zealanders have become increasingly concerned about the housing market, which has become the least affordable among peer nations. Public polling shows most New Zealanders believe housing is the biggest issue facing the country. … read more via hyperlink above …

    Housing: Eight in 10 New Zealanders believe homeownership impossible – report … Kirsty Wynn … NZ Herald

    https://www.nzherald.co.nz/business/housing-eight-in-10-new-zealanders-believe-homeownership-impossible-report/ISTRJO3ORR5Z2GJARQU37SY4ME/

    Home Truths: NZ kids moving more as families can’t afford rising house prices … Ben Leahy … NZ Herald

    https://www.nzherald.co.nz/nz/home-truths-nz-kids-moving-more-as-families-cant-afford-rising-house-prices/NCHF6Z5Y7CMXYSMOQB4G76OS7Q/