Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

A not so quiet start to the trading year for Asian stock markets with some big swings higher as the lift on Wall Street overnight is embiggening risk spirits across the region. The Australian dollar however remains under pressure as does Bitcoin, struggling at the $46K level as gold claws through the NY/XMas volatile period to get back above the $1800USD per ounce level – but only just:

Mainland Chinese shares are down a little with the Shanghai Composite off by 0.2% to 3626 points while the Hang Seng Index is barely changed at 23270 points. Japanese markets are putting in strong returns on the back of a weaker Yen with the Nikkei 225 closing 1.7% higher at 29301 points while the USDJPY pair is surging through the 115 handle and putting in new monthly highs in a very overbought fashion:

Australian stocks had a much better start to the new year than anticipated, with the ASX200 closing nearly 2% higher at 7589 points while the Australian dollar clawed back some of its gap down to hover just above the 72 handle as it barely hangs on:

Eurostoxx and Wall Street futures are up and rearing to go again, with the S&P500 four hourly chart showing price ready to breakout above the 4800 point level tonight:

The economic calendar includes the latest German unemployment print, then the December US ISM manufacturing print, both very sensitive releases and a great way to start the trading year.

Latest posts by Chris Becker (see all)

Comments

  1. The Travelling PhantomMEMBER

    First
    Macro Afternoon in 2022!
    Thank you Chris, hope you had good break.

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

    No doubt this is the perfect time for him to score that double-ton and demonstrate the selectors have made the right choice for future-proofing Australia’s batting lineup. Maybe even a couple of them.

    • The Grey RiderMEMBER

      Baseball bats at the ready for SloMo and his band of merry men…doubt he will be able to spin his way out this mess.

    • The punters are getting restless here in WA as well. I think GruppenfΓΌhrer McGowan is starting to loose ™ his lustre, and the support he one commanded is waning. 3rd jab being made mandatory for ~70% of the population, bringing masks back and guaranteeing that once he opens up on the 5th Feb, these will become a staple once again, introducing vax passes to get into pubs (so now you have to scan the code, show proof of green pass + your ID) – I am getting the sense that peeps are getting fed up with the heavy hand approach. At least he is not mandating vaccinating kids under 12 yet.

  3. The Travelling PhantomMEMBER

    Has anyone else noticed supermarket shelves are run down, semi empty and not much stock around?
    Also toilet paper from $8.50 to $9.90
    All veggies gone up by 50c to $2
    Most cleaning products up by $1-$3
    And list goes on

      • The Travelling PhantomMEMBER

        Straws gone from 80c to $3
        It’s crazy world out there JohnR, I won’t be going out if I were stressed about straws like you

          • Arthur Schopenhauer

            Crikey! Reminded me of a Grade 7 field trip to a Dairy Farm.

            Couldn’t say S3x in Queensland, but you could show how to artificially [email protected] a cow. πŸ˜‚

            Culture shock!

          • Geeze Art, in 7th grade I don’t think my arms would have been long enough to get the straw in the right place. You Queenslanders must grow fast..

          • Arthur Schopenhauer

            We didn’t do it LeMon, we watched the β€˜farmer’ do it. One kid fainted. I remember thinking, that bloke’s got a long arm…

    • SnappedUpSavvyMEMBER

      Truck drivers are are testing positive and isolating by the truck loads (sorry) but in all seriousness I’ve been told by a very large logistics company to expect chaos

    • Ronin8317MEMBER

      Watermelon is $3 a kilo wherever you go. Inflation data is only compiled every 3 months though..

      • The Travelling PhantomMEMBER

        Which is 90% water!!
        As every time you buy a 10 kilos watermelon you get 9 litres of water

      • Hey booma

        Could you make me something like a paint stirrer or milkshake mixer that I can attache to the drill so I can make a slurry out of cardboard boxes in a bucket?

        Reason – I want to make used boxes into briquettes/logs instead of chucking them all out.

        I’m thinking of then lining a milk crate with flyscreen, pour the slurry in then and stomp out the liquid like a disturbing grape press. This guy uses 20L buckets instead. https://www.youtube.com/watch?v=2aLZ88_DZz8

        I’ll pay whatever

        ta

        • boomengineeringMEMBER

          Free.
          II have made stirrers by just slightly bending a 10mm or 12mm bolt near the head end and holding the threaded end in the drill
          chuck .

        • The Travelling PhantomMEMBER

          Take him on a sail from Sydney to Melbourne, or you can park your boat near Gunnamatata in Geelong, I’m sure he’ll be pleased to share few joints with you guys on the beach!

    • The Traveling Wilbur πŸ™‰πŸ™ˆπŸ™Š

      Because they’re racist (TRUE story), but you won’t hear that on the ABC.

      (as there are no white mosquitoes)… heh. But also true.

    • Nice Artie, I know it well. Pavlov’s Dog had some beautiful compositions. David Surkamp has the strangest, warbling vocals that somehow works well with the material.

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

    Hardly Normal selling RATs.
    Great Barrier Reef Foundation taking donations via Grilled.

    Just when you think there’s nothing left they can do that’ll surprise you.

    • Arthur Schopenhauer

      Via Grill’d?!

      Hollow State run by hollow men. It’s only going to get more wacky in the run up to the election.

    • Ronin8317MEMBER

      Great Barrier Reef Foundation : every dollar you ‘donate’ goes to make the mining industry richer.

    • The Travelling PhantomMEMBER

      It reached you up in Queensland? I remember when Queensland exported opportto to us here south, was good joint. And I remember a friend telling me when grilled opened in hawthorn melbs….days are running fast!

      • The Traveling Wilbur πŸ™‰πŸ™ˆπŸ™Š

        We’ve even got bogroll now.
        And daily newspapers.

        But I repeat myself.

        And the joke’s on the rest of Australia, actually. Qld also has… The Olympics.

        • The Travelling PhantomMEMBER

          Well done, buy few apartments, their prices will rocket with all the shagging Olympians want to have away from their village

          • The Traveling Wilbur πŸ™‰πŸ™ˆπŸ™Š

            This is the part where all Qld apartment owners declare what savvy investors they are as they just knew Qld was going to Bradbury its Olympic-bid that they didn’t know about right?

    • They need Ratatouille from Marketing to redefine ‘close contact’ for them and tell them they need to learn how to live with Covid. That’ll fix thing!

  5. Arthur Schopenhauer

    Dan’s secured 34 million RAT tests for Victoria, and is going to make them available for free.

    Dan for PM. πŸ™‚

    • Goldstandard1MEMBER

      They better be here before school starts or it gets bad/worse bad.

      Copied from a previous comment:

      How about we focus on how this is the SECOND time (amongst many) the Scomo and this parasitic government has made changes with absolutely no strategy in place:

      1. Not ordering enough vaccine when we had no virus in 2020 – putting us behind 12 months

      2. Instigating opening the economy whilst we still have to test and isolate from jobs, school, socialising and life in general with ABSOLUTELY NO PLANNING for extra test sites OR RAT tests which are being scalped at crazy prices. As of now if we or one of the kids get a sore throat, fever or any cold symptoms we sit at home for 2 weeks. Expect goods and services prices to go through the roof and in the case of the health system, possibly stop functioning and that is completely separate to whether you think the virus will make you sick or not-long covid is a separate issue completely. Nope, not good enough.

      Another pie in the sky strategy with no thought LIBS.
      This situation is about to go Bang!

      • The Traveling Wilbur πŸ™‰πŸ™ˆπŸ™Š

        Nah. The LNP’s entire strategy relies on the fact that when TSHTF for reals, Australians just get on with dealing with muddling through as best they can and leave the pitchforks in the shed. They’ll probably be right about that this time too.

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

    Markets: bcnich might be a little saner than I first thought.

    Just going for a short walk to sun my … BRB.