Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Asian stock markets are all lower on poorer risk sentiment as concerns about China’s property sector continue to grow. This is spilling over into sour sentiment for Eureopan and US stocks heading into the London open, while the USD is remaining relatively strong against the major currency pairs. Gold has slumped again, rejecting the overhead $1800USD per ounce level, while Bitcoin briefly dropped below the $60K level, as it proves completely unable to burst back above the previous and record high:

Chinese shares are moving sharply lower with the Shanghai Composite pushed 1.1% lower after it failed to get back above the 3600 point level, now down to 3557 points while the Hang Seng Index is off nearly 1.6% to be at 25610 points. Japanese markets have failed in their bounceback with a muted session for the Nikkei 225, closing 0.1% lower at 29098 points, while the USDJPY pair has also faltered and headed back to the 114 handle after an overnight resistance rejection:

Australian stocks have gone nowhere again, but at least the ASX200 was the only market to put in a positive return, lifting 5 points to close at 7448 points while the Australian dollar absorbed the latest (sic) inflation report by staying the course and heading back above the 75 handle, now pushing through and ready to tackle last week’s high:

Eurostoxx and S&P futures are down 0.1% to 0.2% going into the London session, with the four hourly chart of the S&P500 showing price wanting to get back on track and make ever more record highs as it remains well supported here as more tech earnings reports come in:

The economic calendar continues to pick up with the latest German consumer confidence survey, then US durable goods orders.

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Comments

  1. The Travelling PhantomMEMBER

    Macro Afternoon blog
    Where all would love to flog
    Come over where it’s clear and no fog
    Let’s chat and discuss and have some grog
    And if you get happy great! otherwise go for a jog
    Where are all in this life nothing but a cog

  2. Anyone with a recommendation for best value online international money transfer service? Much appreciated.

  3. Swampy pleased to inform the assembled legazentariat he will for his bday be paddling out in boardies at Wategos or The Pass followed by delicious Kinoko (IFYKYK) for lunch then woodfired pizza for dinner (bolsty you know who) for the auspicious occasion on the goodly morrow

    I will have a Sapporo and halloumi tempura for you all

    • Fishing72MEMBER

      Dogsh1t Northerlies at the Pass tomorrow.

      Best reach for that Sapporo earlier rather than later. Whilst your at it you may as well grab a couple…..

    • The Travelling PhantomMEMBER

      Many happy returns Swampy, hopefully Mrs Swampy will give you a gift you’ll never forget πŸ™‚πŸ™‚

    • Jumping jack flash

      Human rights are great until 90% of the humans dont need to care that the other 10% suddenly have no rights.

      Until all those law talkin’ guys actually start some litigation their words are worthless and they’re just saying stuff to get their name in the papers.

      Then democracy does its thing, motion passed, and tough tiddies to the losers. Heil Dictator Dan, Lord of the Flies.

  4. TailorTrashMEMBER

    Own cash ?
    Surely it’s the cash he stashed from the borrowings

    New movie coming up …Once were crazy rich asians

    Go Uncle Xi !

    • Did he consider the idea, or just laugh?
      agree on Uncle Xi, at first I thought he was mad and sinister, but now I realise he’s just a jolly stuffed animal.

  5. Ronin8317MEMBER

    Went to see Stardust circus with my almost 4 years old daughter tonight. After we’re seated, the clown started tickling the guest with a long balloon, and my daughter completely freaked out after seeing his action. Just when we managed to calm her down, the clown came around again to tickle another bunch of guest. After that she simply would not stop screaming. We ended up leaving before the show begin.

    Thank you scary clown, for giving me one hour of my life back πŸ˜›

    • reusachtigeMEMBER

      This is why I never see any of my kids, both the ones I think I have (but could be anyone’s as I often say) and those I thankfully have no idea about.

  6. The Traveling Wilbur πŸ™‰πŸ™ˆπŸ™Š

    The River. Live and unplugged. Springsteen
    on
    The Late Show. Colbert

    Do yourself a favour.

  7. Hugh PavletichMEMBER

    High priced residential real estate deals: Examples of St Petersburg Florida and Auckland New Zealand … h/t PH and GF …

    … yes … New Zealand has the most inflated housing within the developed world … a deliberate political poverty creation programme …

    … first … Auckland, New Zealand … $NZ 6.01 million … $US 4.207 million …

    Super sale in New Lynn sees vendors ‘bawling their eyes out’ … Colleen Hawkes … Stuff New Zealand

    https://www.stuff.co.nz/life-style/homed/real-estate/126765485/super-sale-in-new-lynn-sees-vendors-bawling-their-eyes-out

    September 2021 Report … Real Estate Institute of New Zealand

    https://www.reinz.co.nz/residential-property-data-gallery

    … second … watch … St Petersburg, Florida, USA for (asking) $US 2.7 million … $NZ 3.7 million …

    Couple makes huge decision to uproot their lives and move to this state … Fox Business / Youtube

    https://www.youtube.com/watch?v=acweoGzG-Ro