Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Asian stock markets are retracing across the region in response to the sharp falls on tech stocks overnight on Wall Street but it appears to be mean reversion more than an outright selloff at this stage. The Australian dollar remains under pressure alongside other risk currencies however, with Bitcoin still struggling at the $46K level as gold clawsback its post NY/XMas volatility to buid above the $1800USD per ounce level:

Mainland Chinese shares are down significantly with the Shanghai Composite off by more than 1%, currently at 3590 points while the Hang Seng Index is off the same, hovering at the 23000 point level. Japanese markets are putting in scratch sessions with the Nikkei 225 closing a few points higher at the 29308 point level while the USDJPY pair retraces back to the 116 handle after a big surge overnight, putting in a five year high in the process:

Australian stocks had a minor pullback after a big start to the trading week previously, with the ASX200 closing 0.35% lower at 7565 points while the Australian dollar also fell back after its false breakout overnight, now back to the low 72 level as momentum reverts:

Eurostoxx and Wall Street futures are fading fast going into the London open, with the S&P500 four hourly chart showing price stuck in a tight rectangle pattern after failing to breakout above the 4800 point level overnight as momentum wanes:

The economic calendar includes private ADP employment data in the US plus some EIA oil data.

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  1. Mining BoganMEMBER

    Jebus H Christ!

    Scummo’s backflip is a shambolic mix of swallowing his own testicles, ramming his own head up his arse and Just. Plain. Lies.

    A lot of meaningless words as well. Guess there’s more backflips coming.

      • Mining BoganMEMBER

        He made a couple of little concessions with testing and whatnot but nothing like what people want. But by geez, his words and phrasing were all over the shop. It was a struggle to follow his stream of consciousness.

      • RATs will be free for low-income earners, pensioners and concession card holders. Everyone else can GAGF. The rest was inane waffle.

      • RATS I think. Gonna make em available in places other than Harvey Norman..

        But will be forced to backtrack from the no lockdown promise within a few weeks also I reckon. Poor lying scumbag.

        They’ll call it ANYTHING other than a lockdown tho..

    • happy valleyMEMBER

      Yep no doubt – he’s cancelled his proposed two weeks leave that was slated from next week.

  2. Camden HavenMEMBER

    Just arrived at our house in France. Observation so far. How much 10 EUR buys at corner delie, fish n seafood section of our supermarket like Melbourne Victoria market. Drivers are respectful and tolerant.

    • Rain! We’ll have to wait until tomorrow to resume our collapse.

      I’m only disappointed that Mitchmas (who has been hitting them well in the nets and just needs some luck out in the middle) won’t be a part of it.

  3. Did anyone else pickup on this

    Indonesia is banning Coal exports because it fears that these exports are leaving Indonesia’s Electricity Industry with insufficient coal to cater for local electricity demand. Wow
    how different is this to the Australian government which allows the LNG exports to strip Australian industry of a vital natural resource (natural gas) so that they can send it to Japan/China and make huge profits.
    What was it that Australia’s LNG industry feared if they were forced to properly support local industry? oh yeah, I remember…Sovereign Risk!
    So we now know how a country as corrupt as Indonesia deals with the global Fossil fuel Industry stripping local industry of local resources. All without single reference to Sovereign Risk.
    Australians truly are becoming the white trash of Asia.
    We willing accept corrupt conduct that would embarrass an Indonesian politician…it’s a new low

  4. The Grey RiderMEMBER

    The complete cluster w.r.t availability of RAT kits and booster shots, long lines at COVID test clinics, and The Jokers exemption really seems to be hacking-off the proles…

    Yes, I will have another bucket of popcorn. Thanks.

  5. Hey Sweeper, your Nazi passports are a thing of the past. Now that PCR testing is not mandatory, what is stop the unclean from stating in the next few months they had COVID and are now illegible to get the vaccine?

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

        Freakin’ Fed Minister was talking about recent policy changes re COVID response yesterday and used the word “agile”.

        We’re all dead. It’s just a matter of time.

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

    Why was Totes so chuffed about that offshore earthquake near Indonesia last week?

    It was Labor’s fault.

    • Darwin got quite the rattle from it It would have been better if it was a new year’s eve quake. Can you imagine all the bush doofers dealing with it? It would have been a hoot. Some poor kid higher than the sun on everything under the sun and then the earth starts shaking and all the animals go gaga not knowing what’s happening. They would have thought that it’s end of days. A live stream of their stream of consciousness at that moment would make for magic listening.

  7. Scomo- β€œride the wave β€œ

    Man he is tone deaf.

    Did he give a north shore Shaka as well

      • An ego melting dose of the strongest psychedelic mushrooms in the known multiverse. Dump him in the forest and let him be one with all gods his mind manages to comprehend. Let them laugh at him as he tells them the story of the great and mighty scomo. An experience to strip away all his prior experiences before he has to attempt to make sense of his place in the cosmos and his complete insignificance to the whole of time and space.

        Then make him back it up with 12 hours on a psy-trance dance floor. The psy-trance is not for personal growth, just as a cruel and unusual punishment for how he’s treated us. Plus, the dude looks like he could do with some exercise.

  8. If you read the valid exemption criteria it is very hard to see how Djokovic could have a valid medical exemption & be an alite athlete.
    Being a pampered princess isn’t on the list.

    • Know IdeaMEMBER

      It’s commercial life could be extended if they could only find some other application for the technology.

      Maybe a left-handed version will be released?

    • TailorTrashMEMBER

      Does it come with different sized mouths ………asking for Reusa …….

    • reusachtigeMEMBER

      Comments had me in stitches. “Just suck your thumb”. LOLOLOL. I’ll get Sweeper one.

  9. So I’m in talks with Novak’s agent about releasing Novak-branded RATs. A negative result shows a little pic of Novak holding his 9 Australian Open titles. A positive results shows a little pic of Lleyton Hewitt (the last Aussie male to win a major…20 years ago!) yelling “C’mon!!”. All proceeds go to the Wuhan Institute of Virology. RRP is $20 – symbolic of Novak’s total number of major trophies (and probably the number of supermodels he’s shagged).

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

        and admits that he doesn’t take them orally – as Jen and the kids told him “That’s not how dog intended it.”.

  10. Arthur Schopenhauer

    Despite Morrison’s lie, GPs do not have access to a system to report Covid patients. From what they know, there isn’t a system in existence.

    Add that one to the list.

    • reusachtigeMEMBER

      Who cares? His brushing off of the nothing-burger China Virus event underway was Statesman like!! He knows the chicken sh1ts just need to be ignored.