Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

A bloodbath in Chinese tech stocks is putting a dampener on risk taking here in Asia while European and US futures indicate lower opens this evening. Risk currencies like the Aussie dollar are falling back while commodities are holding on, although gold continues to drop below the $1800USD per ounce level. Bitcoin is holding on too its Monday morning gains, steady just above the  $37K level but the real test later tonight will see if it can HODL above trailing support:

The Shanghai Composite closed 2.5% lower to 3381 points while the Hang Seng Index is off by another 1000 points, down 4% to 25447 points as the self induced blood of bath continues for mainland Chinese tech and education stocks. Japanese stocks are ignoring the risk off mood, with the Nikkei 225 closing nearly 0.5% higher at 27970 points. The USDJPY pair has pulled back from its Friday night highs as it threatens to break below the 110 handle as momentum on the four hourly chart continues to revert to mean from its overbought levels:

Australian stocks are playing catchup with a solid move higher above the 7400 point level as the ASX200 lifts 0.5% exactly. Meanwhile the Australian dollar continues to deflate after rejecting overhead ATR resistance, now back to the mid 73 level going into the London open:

Eurostoxx and S&P futures are pulling back 0.3 to 0.5% going into the European open with the four hourly chart of the S&P500 showing price stabilising at the recent record highs as momentum slightly reverts from its nicely overbought phase. Continued upside depends on more outperforming on corporate earnings this week:

The economic calendar continues with US durable goods orders and house price index results.

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Comments

  1. boomengineeringMEMBER

    Late.
    Better late than never Johnny come lately, late to his own funeral, may have to have a latte to commiserate.

    • The Travelling Phantom

      Do You remember the girl I told you about and you gave me advice about going out with her?
      Well things went all good but lockdown ruined the pace…anyway hopefully tomorrow night she’ll come over for dinner as we want to establish an intimate bubble, wish us luck!

      • reusachtigeMEMBER

        Don’t eat just before relations! Try and get one off beforehand then relax with a nice meal and chit chat with a long all nighter round 2 to finish off the evening. If you reach dinner and chit chat with no action and it’s not looking good for a late night round then send her home because time is money and you don’t wanna be wasting any.

      • boomengineeringMEMBER

        Time away gives her time to reflect and confirm to herself the feelings she has. Bit early to state but anything from 2 weeks to a year break is nearly essential before a lasting marriage.
        Keep aloof knowing if this doesn’t work out the next girl could. Women are like people after a shipwreck, they are insecure and may drown and the last thing they want is to seek support from another who is also drowning in insecurity.
        As far as intamicy goes, don’t worry about it, just go with the flow enjoy the ride ( no comment Reuse) (time), fast or slow irrelevant.
        No luck required what will be will be. Take it as it comes .

        • The Travelling Phantom

          You make sense Boom, and thank goodness we both aren’t looking for an anchor we kinda established each in their own way, we just want a warm body to share a bed and a brain to bounce ideas with🙂

        • boomengineeringMEMBER

          It’s extremely rare but there are some people who are too secure and don’t hook up because they have no need to.. A little insecurity is a good thing, too much can be a problem
          Saying all that.earlier, is still a step ahead to consummate the relationship which will either strengthen or weaken it.

      • “Suck me like my d!cks full of Pfizer and you just came back from a Campsie shopping mall!”

        • Classy!

          “I’d like to treat you like my little toe!”
          “Awww, how cute, what do you meant though?”
          “… bang you on every piece of furniture!”

        • The Travelling Phantom

          Do you to same church of those 2 pastors went to Mexico with special exemption? Boy those people have connections

        • Brother Harper used to say the same thing. He also used to give the nicest cuddles.

        • ErmingtonPlumbingMEMBER

          My 95 year old neighbour wheeled his pushy, walkie, thingy with a seat on it down his driveway this arvo and sat down in the sun and half fell asleep. So after a while I made me self a coffee and walked out side and sat on my concrete balcony opposite him 3 or 4 meters away.
          We yarned away for an Hour or so and ended up both complaining about all the duplexes getting built around us.
          He went into a deep lament about how he can not think of a single thing that has not completely changed in his life time.
          “Cars, trains, buildings, phones, work, people, TV, women,…everything! has completely changed over the more than 70 years I have lived here”, He says
          “There are some parts of Australia that haven’t changed so much” I say
          I briefly think he interprets this to mean I’m suggesting he should sell up and move out when he points his finger up and then down and says, “They are the only 2 places Ill be moving to after here”.
          “What?,…Up or Down the Coast?” I enquire. “I prefer North”.
          “No”! he laughs “Heaven!,…or,…that other place” he says after a pause obviously not wanting to say Hell
          Never known him to be a Churchie. If fact its the only semi religious thing I think I have ever heard him say and hes been my “HaveAChat” neighbour for 24 years now.

          • You should hook him up with your 113 year old grandma….then inherit the land when he passes and duplex the sh!t out of it.

          • ErmingtonPlumbingMEMBER

            Grans a bit of a cradle snatcher.
            I couldn’t see her with anyone older than 85.
            And she’s always telling everyone how she prefers “Blacks”
            This used to make me feel sorry for Pop when he was still alive.

      • Since our useless MSM are all so inept at getting pertinent info into the publics eye without their perverse biases damaging the goods, I’m glad to help,

    • “China Stock Rout Spreads Amid Fears of Foreign Investor Exodus” [Bloomberg]. “A deepening selloff in Chinese stocks spread to the bond and currency markets on Tuesday as unverified rumors swirled that U.S. funds are offloading China and Hong Kong assets…. The dramatic moves underscored how fragile investor confidence has become after a months-long regulatory onslaught by Beijing that only seems to be getting worse. Traders fear the latest crackdown on the nation’s education, food delivery and property sectors could expand to other industries such as health care, as China looks to tighten its grip on Big Tech and reduce the wealth gap.”

  2. The Traveling Wilbur

    Fourth.

    And: If only someone had told us. Just one someone. Anyone. Anyone at all.

    • The Travelling Phantom

      Hear about the new restaurant called Karma?
      There’s no menu: You get what you deserve.😘😘

    • The Travelling Phantom

      And the Lord said unto TTW come ” first ” and you’ll receive eternal life.
      But he came fourth and he received a toaster

  3. How about that Campbell Newman feverishly quitting the Liberal Part’ee … seems a pandemic is no reason to abandon the fundamentalist doctrinaire commandments ….

    • Ah, Can Do. Never in the field of Australian politics has someone promised so much, and delivered so little, for so few, over such a long period of time.

      • One of my mates went to RMC with Newman back in the 80’s. Said he was a memorable only for being a fckwit even then.

    • FUDINTHENUDMEMBER

      That ain’t workin’, that’s the way you do it
      Money’s worth nothin’ and your debt’s for free

    • The Traveling Wilbur

      If you can pay 1.2m+ for a shtbox in Sydney, what price an Australian classic in waiting?

      At least you can drive it to a decent view. Your Five Sisters for example.

    • working class hamMEMBER

      VN’s hold a soft spot in my heart, had one for years. Didn’t lock, so I just left the window down so any thieves thought I was still around, it had the thumb tack roof lining and fuel cover delete. Bought it for $1200 though.

      • A friend had a VP Commodore 20 years ago. It was a clean example, but it was nothing special to drive. Big Buick V6 that was fairly mundane and pedestrian to drive. I hated almost every design aesthetic about it. Dash bland, interior bland, styling horrid (prefer the VK/VLs). I just didn’t understand what people liked about them. Still don’t.

        • Mining BoganMEMBER

          The VL was a lovely car. VN, VP was such a step backwards. Drove like sh!t and couldn’t even look good in race livery

          • Yeah the VL was good because it had a Nissan motor lol. Build quality wise they were pretty woeful. But I kind of liked the styling and nearly bought 1 as my daily driver. But I ended up getting an AE92 Corolla SX instead with the 4AGE becuse it was 1.6ltr and better on fuel then the Rb30 in the VL. I liked the Corolla, can’t find them now.

          • Mum and dad had a VL turbo
            I got my Ps and the next day raced down the Calder to the Greg Norman classic at RMGC hitting 200kmh on the Calder past the Sunbury exit. Silly stuff but it was quick.

          • SnappedUpSavvyMEMBER

            VL turbo was tha sh it
            Even quicker was the Toyota Cressida turbo, that was quicker then a 5.0 V8 commodore
            Good days.. no traction control 😜

          • Had a VS Calais. Did over 500k kms in that car & absolutely nothing broke or went wrong. Not a thing. Went from Adelaide to Darwin to Perth to Cairns to Sydney to Melbourne to Brisbane & everywhere in between. Took it over some pretty crap roads. But then bought a VE Calais. God Almighty that was the worst car ever in the world. Everything went wrong, absolutely everything. Remember saying to the dealer “Holden will not exist in 10 years if they keep producing this sh!t”. I was wrong by a couple of years. I know DLS etc say it was other reasons but seriously Holden did not care about their customers & their follow up was dreadful & I think they were done for even if Fu#k knuckles the treasurer dissed them. They were gone & no-one was buying their sh!t except me!

    • I’ve pulled out my Mizuno MP32 7 iron and knocked it dead to 8th October . Who will get nearest the pin

      • FUDINTHENUDMEMBER

        Gladys said today that they’re gonna try Vax their way out. Plus antigen testing ect. So they’re trying to do a UK.

        UK was in lockdowns and curfews for best part of a year. And that was pre Delta. Also UK had hugely impressive vaxx rollout, which so far Oz has battled with.

        So yeh I reckon they’re making a major miscalculation and Sydney will be in it until the end of year.

    • SnappedUpSavvyMEMBER

      4 more weeks without jobkeeper or rental assistance will send people to the wall that’s gunna be nasty many more protests for sure

        • Eff that.

          Build a ring of steel around that migrant hell hole. And don’t use my effing taxes Kent’s to pay for more job keeper so more effing Mexicans can cross the tweed to God’s country and displace all the locals paying $1.5 mill for what was going for less than a mill five months ago.

          Place is farkerd.

  4. The Travelling Phantom

    Earlier today C’est de la folie, shared about what stage V in Eire and what that would be. That reminded me with a Roman legionnaire who walks into a bar, then holds up two fingers and says, “Five beers, please.”

    • haroldusMEMBER

      “I’ll have a martinus please.”

      You mean martini?

      “If I wanted a double I’d ask for it”

      .
      .
      .
      😀
      Try the veal!

  5. reusachtigeMEMBER

    Hey who else is finding it an attack on liberal freedoms that women in sport are covering up and wearing more modest outfits? I’d have no interest in netball if they didn’t wear tiny tight skirts. Beach volleyball or beach handball without bikini bottoms is just chicks doing bootcamp on a beach. And gymnastics without tight leotards is ballroom dancing. And why aren’t female swimmers wearing bikinis?

  6. The Travelling Phantom

    If Sydney is going 4 more weeks, how is Hazzard now who said “no lockdown in my watch ” 5 weeks ago?
    He should be sacked and fed to the lions in the zoo

    • “China Stock Rout Spreads Amid Fears of Foreign Investor Exodus” [Bloomberg]. “A deepening selloff in Chinese stocks spread to the bond and currency markets on Tuesday as unverified rumors swirled that U.S. funds are offloading China and Hong Kong assets…. The dramatic moves underscored how fragile investor confidence has become after a months-long regulatory onslaught by Beijing that only seems to be getting worse. Traders fear the latest crackdown on the nation’s education, food delivery and property sectors could expand to other industries such as health care, as China looks to tighten its grip on Big Tech and reduce the wealth gap.”

      Clipping a few squillionaires wings so they don’t have a GFC like event is a bad thing in your opinion – ?????

  7. Arthur Schopenhauer

    Three infectious nurses were working in the Cardio & Respiratory units of a Sydney hospital.

    Looks like Sydney has hit point (0,1) of its exponential curve. Hard to pull it back from here in 4 weeks.

    Gold Standard Mate.

    • ErmingtonPlumbingMEMBER

      Australians are a Gambling, betting people.
      Now the odds of catching Covid are going up in Sydney I expect People to starting taking shyte more seriously.
      Ive noticed most of the people in my orbit who were initially blase about the whole thing are now doubling down on the whole lockdown compliance.
      To little to late?

    • Arthur Schopenhauer

      Ronin saying it was all over Chinese social media?

      Fools Gold Standard by the looks of things.

    • haroldusMEMBER

      whole tracing team and hire new contract tracers

      Whoa whoa whoa slow down pointdexter.

    • working class hamMEMBER

      What kind of builder doesn’t have a shed?
      Bet the career opportunity is acting.

  8. Paramedic bro got out of HQ on Sunday. COVID free.

    His partner is still in hospital. Due to be released Thursday. May have suffered permanent kidney damage due to high fevers.

    He’s hearing word on the ground that Liverpool hospital has had a swathe of infections and is in lockdown. ICU is full and they are intubating patients on A&E.

    • Diogenes the CynicMEMBER

      The part about your brother being COVID free is good news. I respect and admire people working in health. They are putting their life on the line to save others. The failure of NSW Fed LNP political leadership will be felt by them.

    • FUDINTHENUDMEMBER

      Sounds like gold standard to me. All while they extend the mockdown with lighter restrictions and daily cases are doubling every 1.5 weeks. What could go wrong?

      Genuine commiserations to any and all in Sydney. Except Gladys. And Alan Jones. Actually fck it there’s plenty of other exceptions.

  9. Alex Rondelson

    Iceland is universally vaccinated, but back into lockdowns.

    This will never end unless people take to the streets and make it end.

    • Did you not read Hixar comment above you? His paramedic partner may have permanent liver damage and ICU is being overrun. But sure let’s let it rip.

      • Alex Rondelson

        ICUs and hospitals are overrun every year. Just google news search ‘x city influenza hospitals overloaded’ you’ll find results going back to the dawn of the internet.

        Look at the death results from the UK, more people were dying of influenza than COVID for months this year, and no one cared.

        50% of ‘COVID’ hospitalisations in the UK are people who got tested after they were admitted, probably the same for deaths too where they nose swab a corpse.

        Yes the world is a dangerous place, there are bugs out there that will kill you. Swine flu from 2009 is about as deadly, why didn’t we lock down for that?

        These bugs come around every decade and we just roll with it.

        Look at the death spike from COVID in Sweden: https://swprs.org/wp-content/uploads/2020/10/sweden-monthly-deaths-1851.jpg its just noise in the data, barely recognisable.