Macro Afternoon

By in Australian Dollar, Australian Shares

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See the latest Australian dollar analysis here:

Macro Afternoon

Outside of Chinese stocks, its been a relatively mild response on stock markets across Asia today following some mixed economic prints overnight, with local shares pulling back as the Australian dollar lurches towards the 74 cent level. While gold falls asleep just above the $1800USD per ounce level, Bitcoin has finally come to life with a breakout above the $50K level, matching the previous weekly highs:

The Shanghai Composite has closed nearly 0.9% higher, building on its breakout above the 3500 point level, finishing just shy of 3600 points. Meanwhile the Hang Seng Index managed to stay just above the 26000 point level but only just, lifting 0.1% to finish at 26059 points. Japanese stocks continued their own breakout, with the Nikkei 225 finishing 0.3% higher to close at 28543 points:

Australian stocks continued to pullback with the ASX200 stalling yet again, closing 0.5% lower to break below the 7500 point level. Meanwhile, the Australian dollar continued its surge well above the 73 handle, actually almost hitting the 74 level in response to the trade balance print:

Eurostoxx and S&P futures are flat lining into the London open, with the four hourly chart of the S&P500 showing price wanting to re-engage back above the 4530 point level but finding short term momentum pulling back as the BTFD crowds wait until tomorrow night:

The economic calendar continues with the latest trade balance figures from the US and the initial weekly jobless claims as a prelude to tomorrow nights non-farm payrolls US unemployment print.

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Comments

  2. Channel BT

    UK records 207 new COVID-19 deaths, highest since March

    reuters(dot)com/world/uk/uk-records-207-new-covid-19-deaths-highest-since-march-2021-09-01/

    That herd immunity experiment has failed you have to say. At the tail end of summer imagine what hospitals will looks like in winter. Boris is going have to wimp out on his ‘freedom day’.

      • Channel BT

        People wouldn’t be stoopid enough to pack pubs and restaurants though and try to live a normal life if there wasn’t a vaccine.

        People would self regulate. Some are th1ckheaded so would need a few infections to get the message but eventually everyone would modify their behaviour.

        It’s why it never really got out of hand in Sweden. Not quite as th1ckheaded as the average p0m or [email protected] Much healthier people too the p0ms must be the biggest slobs in Europe. Thin arms and massive guts on them from all their curries and fish and chip butties.

        Not to mention the vaccinated are still infecting all the unvaccinated children and killing them or giving them long COVID. The behaviour of the vaccinated in the UK and US is quite evil when you think about it.

        • FUDINTHENUDMEMBER

          I dont think being vaccinated and shmearing virus on unvaccinated children needs to be mutually inclusive.

          For instance: I’m vaccinated and I can’t fcken stand children, they annoy me immensely with their smells and noises and curiously happy outlook and such, so I avoid them like the plague (which I also will try to avoid, within reason).

          Also odds on we’ll be vaccinating the children in the not too distant future.

        • reusachtigeMEMBER

          Nah not evil. Just freedom lovers unlike the fearful control freaks like yourself. I respect them, not you. You, I’d fight to the death, but wouldn’t have to, because you have no fight. Just sayn.

    • reusachtigeMEMBER

      Yeah I’m straight into the wine bars and clubs as soon as they open. Gladys says mid October. I can’t wait!

  3. Channel BT

    It’s a leaky vaccine with limited efficacy and needs to be topped up with a lifetime of regular injections. You’d have to be ignorant to think it would have worked. There’s going to be mutations forever so no chance of getting rid of it. The vaccines will promote more virulent and dangerous mutations to dominate too.

    Don’t say I didn’t warn you.

    I’ve been right about this since January 2020 while the experts have got it wrong over and over it’s quite stunning how bad they are at predicting things.

  4. The Traveling Wilbur

    OK, so now we know Reusa *really* likes Maltesers. Like *really* likes (enough to have obviously comissioned the new ad himself).

  5. LSWCHPMEMBER

    I saw today the pictures of Biden checking his watch as the bodies of the dead soldiers were carried past him. Such a thing should never happen. Shame on him.

    I have never in my life seen such a lack of respect and such blatant and casual contempt by a head of state for those who died in the service of their country and their families who were watching.

    I’ve always thought Biden is an incompetent and aggressive senile spaz, but now I actively hate him. Truly ruly.

    • The Traveling Wilbur

      He is senile. And his watch could have alerted. And he forgot where he was. We’ll never know.

      But agreed in principle (unless anyone knows what brand and model of watch he was wearing?).

    • Mining BoganMEMBER

      Hmmm…my grandfather clock used to be so much bigger. And in my parlour. And when did my wrist get strong enough to carry something so big. And was that Barry fella always a darkie. Don’t remember that. Never trusted him though. Should never have married that Hillary girl. She once brought a baby goat to class and let it go you know. Damn think ate my watch. Watch. Hey, I wonder what time it is…gee, I remember that clock being much bigger…

    • drsmithyMEMBER

      I have never in my life seen such a lack of respect and such blatant and casual contempt by a head of state for those who died in the service of their country and their families who were watching.

      Strange. I could have sworn you were posting here throughout the entire previous administration.

        • drsmithyMEMBER

          Rrrrrright.

          Trump called dead soldiers losers, and insulted Jon McCain because he was a POW, and you think Biden glancing at his watch is the worst insult you’ve ever seen ?

        • Narapoia451MEMBER

          If you stand by what you wrote then Biden could have called them losers and suckers for dying, announced that he prefers soldiers that don’t get killed, or maybe belittled the parents of the dead soldiers and you would not hate him.

          I’m curious why you would not hate him if he had done any of these things? Why is it looking at his watch that gets to you?

    • skippy

      Please stop …

      Confusing a MIC job guarantee w/ education benefits for other people reduction squad and whacking the chicken for the monkeys to see is not got anything to do with serving your fellow citizens … unless you mean in the War is a Racket, plutocracy[Citi memo], oligarchical[ Powell memo], et al kinda way.

      • LSWCHPMEMBER

        Thanks for clearing that up for everybody Skip.

        My point was that quite a few young people are needlessly dead, and as their bodies are carried by him and their shattered families, the man who stupidly put them in harms way can’t be bothered to hide his irritation at being there rather than somewhere more important. I believe he checked his watch 4 or 5 or more times. As corpses are slowly carried past him.

        It was his duty…his duty… to honour those people, and he showed them nothing but contempt. It was a day of enormous shame and disgrace for the office of the president, and bearing in mind Trump, Obama, Bush, Clinton, Nixon, LBJ etc , that’s really saying something.

        • skippy

          The dead don’t give a shi!te and dog and pony shows are just feel good PR …

          Trump started the withdraw that Biden paused for a bit and finally finished off, everyone’s better off and that is all that matters, not some parade so the brass can burnish itself. But hay fear not … the neocons can now concentrate on the Ukraine, here the el presidente from their is stopping by the WH soon …

      • The Traveling Wilbur

        Yeah, nah. He’s made huge change. He has made the establishment a much whiter shade of pale.

        ➖🎃

        • GavinMEMBER

          I remember all that effort to stack his chief of staff with diversity hires. I see it’s done about feck all to the outcomes? Funny that.. you mean diversity for diversity sake is just tokenism? I am shocked, shocked to learn this.

  7. skippy

    @Channel BT …

    All wrong … all of it …

    Vaccines are just a form of health insurance and only one component of a broader health initiative to both preserve capital and lessen fat tails. Now if you want to argue about the pros and cons of various responses during the short term and their pros or cons I think those deploying the Bernays PR volume the loudest have been found wanting … seems goal seeking narratives have no effect on viruses … but do effect humans that have been condition to it for yonks …

    Hence wobbling on about individual choices is absurd as is the assumption that without vaccines people would make the ***Rational Choice*** when they have been fed inaccurate information from day one.

      • skippy

        The issue is some think this is a linear progression that will track general historical examples of – recent – decades and not that of a novel event. Decades of neoliberal whiteanting has crippled our ability to respond so corporatism could monetize everything for profit, especially the dumbing down of the unwashed as consumers.

    • SweeperMEMBER

      ha yep the good thing about the virus is it isn’t susceptible to ideology.
      It doesn’t read journalism or listen to the job creators. It just does its thing and all the while exposes the idiocy of neoliberalism.
      Individual choice in a pandemic; Like who can use the community water supply as their own personal sewer first and not get gastro – that kind of choice.
      Libertarians still haven’t cottoned on that they will be free to make all the choices they want around which brand of toothpaste they can buy at any time of the day etc. provided they let the adults make the big choices – if they don’t then they will be limited in terms of when they can buy toothpaste.

      • The Claw

        You have a poor understanding of the matter. It is all about property. The nuttertarian claims to own the river because he pissed in it before anyone else, or because his ancestors did and he inherited the river from them.
        If society does decide to honour the nuttertarian’s claim to ownership, or indeed honour the property claims of any elite, then the river will get used as a toilet and those of us downstream will suffer.

        Wise up Sweeper. Demand a fair share of natural resources for each person as your starting point. A fair share of clean water does not get pissed on upstream. Problem solved. Nuttertarian/Neoliberal put in their place.

  8. The Traveling Wilbur

    500,000 over 60s now at the back of the Pfizer queue.

    That’s a lot of inheritances waiting to happen.

      • The Traveling Wilbur

        Sorry Albo, but the intersectional set of young people with cashed-up/propertied-up relatives and young people who read MB would need the use of a scanning electron microscope to identify.

        • The Travelling Albatross

          LOL true that the chance of a youngster with rich relatives to be reading MB equal the chance of Reusa seeing someone bending and do nothing by accident to them

    • Arthur Schopenhauer

      The PM is sending them all a personalized letter, urging them to get the AZ. For real.

      No idea if that will work for or against the PM.

      • The Traveling Wilbur

        Yes, but. The decision not to vax yourself has impacts on others in the community (assuming equity of non vaxxed access), not just on the unvaccinated one, whereas your analgous choice only affects the preggers one, not anyone else.

        Oh. Wait.

    • drsmithyMEMBER

      Only the beginning. Conservatives across the US have had legislative changes aimed at banning abortion under development for *years*, waiting for a suitable Supreme Court.

    • Anon

      The US is different to Australia given the religious over there take it really, really seriously.

      It’s a tough one. I support pro choice but I understand the position that it is akin to taking a life – it’s not so long ago the catholics didn’t even like birth control!

      Like most issues the middle ground is better – allow abortions but increase education so that folks don’t actually need to have one. Teen pregnancies lock in cycles of disadvantage …

      • drsmithyMEMBER

        Like most issues the middle ground is better – allow abortions but increase education so that folks don’t actually need to have one.

        That is not “the middle ground”. That is literally what the “pro-choice activists” would consider an ideal outcome (ie: easy and cheap access to abortion on demand, supported by widespread and comprehensive sex education and access to contraception).

        “The middle ground” would be somewhere between only allowing abortions in cases of likely life-threatening risk to the mother and only allowing abortions in the first trimester after demonstrating some risk to the mother eg: mental health, and maybe with some exceptions for rape, incest or substantial physical issues with the foetus.

        For the vast, vast majority of abortion opposition, “the baby’s life” is little more than a fig leaf.

        • Olaf

          It is reassuring you know the true motivation underlying the points made by the majority people with opposing views.
          It bolsters your position.

      • drt15MEMBER

        FFS A foetus is NOT a human life. In a planet drowning from overpopulation in which every last corner is invaded by humans EVERY child born should be a wanted child.

        There is absolutely nothing tough about it. How dare ANYONE think they have the right to decide other than the mother herself. Moron

        • tafka

          There are plenty of women, religious or otherwise, who strongly disagree with your opinion of a foetus.

          Guess that makes them morons too huh?

          • drt15MEMBER

            Yep. Plenty of morons of both sexes occupying the planet.

            That’s why it’s dying.

            There’s less than 5 years to do everything we can to halt it. One child families should be the norm, and any over two penalised. Having a child is the greatest single act of environmental damage an individual can inflict on the planet.

        • Narapoia451MEMBER

          It’s fine when god terminates the unborn, just not when it’s the mother. Except in El Salvador apparently, there they blame her when God does it.

    • The Travelling Phantom

      No financial links tonight, I always enjoy reading them👌👌
      and hope Queensland won’t go to lockdown cause of that family refusing to test

    • desmodromicMEMBER

      I looked up the databases and, yes, he is well published with ~500 scientific papers, some on COVID. He is also a braggart. He is definitely not ‘the most published’ in his chosen fields. Perhaps he is a big deal in Texas? I’d be more inclined to listen to his point of view if he simply addressed the evidence and didn’t make his point by disparaging others.

    • drt15MEMBER

      Thanks for posting. Makes sense. It is extraordinary that after nearly two years there are no treatments prior to hospitalization. That doesn’t happen with *any* other disease today.

  15. The Traveling Wilbur

    Professor Paul Kelly, YOUR CMO, said today:

    “3 children under the age of 12 in ICU.
    3, out of 3815 – that is way less than 1 in a thousand.”

    Obvious logic error AND maths issues.
    Genius.
    Could not be more wrong. Heh.
    I’m assuming you’re all sterlingly proud?