Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Asian stock markets are starting the trading week generally upbeat despite a poor finish by stocks on Wall Street, with a cut in Chinese rate cuts helping buoy markets. Also, the stronger USD helped take the heat of some domestic currencies including the Australian dollar although gold is holding on to its poor Friday finish, lifting slightly to be at the $1820USD per ounce level, as buying support builds:

Mainland Chinese shares are surging on the PBOC rate cut with the Shanghai Composite up 0.6% to 3541 points while the Hang Seng Index had another volatile session, down 0.7% to 24222 points. Japanese markets bounced back on a weaker Yen with the Nikkei 225 closing 0.8% higher at 28333 points as the USDJPY pair pushed up through the 114 level to advance further on its Friday night bounceback off a new monthly low:

Australian stocks are the worst performers, relatively speaking, with the ASX200 up only 0.3% to close just above the 7400 point level while the Australian dollar is barely making headway above the 72 handle after its Friday night slump:

Eurostoxx and Wall Street futures are still quite mixed going into the London open, with the S&P500 four hourly chart showing price hovering at the Friday night mid level at the 4640 point area with the potential still building for another dip down to the 4600 point level:

The economic calendar starts the week quietly with a few German Bund auctions but not much else.

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Comments

    • “The delay between Covid vaccinations has been much shorter than what we normally experience with, say, the annual flu vaccine, so potentially that means we still have those effector cells from the last vaccine,” Dr Groom said.

      “It’s likely that in some people, there’s hyper-proliferation of immune cells and ongoing activation, and so that’s causing some additional inflammation.”

      So just the usual hyper stimulation of the immune system causing unexpected inflammation and other adverse effects. Perfectly normal. Nothing to see here, move along.

      • The Travelling PhantomMEMBER

        My thought was, it’s not normal to have enlarged lymph nodes. They encourage people to self examine their bodies and if they find lumps to go see doctor and discover cancer early! Now they tell them it’s OK no dramas??!!

  1. The Beetrooter is gonna make an honest woman out of the Sheila who he cheated on his wife with.

    hhttps://www.news.com.au/lifestyle/relationships/barnaby-joyce-reveals-he-proposed-to-vikki-campion-and-she-said-yes/news-story/6a364bece23f08b015cd3e47996dfbca

    Fkn gross.

  2. The Travelling PhantomMEMBER

    A guy suffering ED , after few months of trying everything he went to see a doc and asked him for best natural way to solve his ED, doc said soak it in milk.
    Couple of days later his female neighbour saw him over the fence soaking it with milk and shouted at him never knew you guys fill it up!

  3. Arthur Schopenhauer

    Very quiet at the beach in East Gippsland. “Don’t call it a lockdown” has its advantages.

    Last year’s local help at the pub are now doing a great job. Local kids doing a great 👍 job after a year of practice. Who coulda known! 😀