Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

A relatively good session across Asian stock markets today as risk sentiment firms somewhat overnight despite the ECB overnight joining the hawkish set. The Australian dollar is trying to breakout of its week long funk, about to cross back above the 75 handle while the USD remains strong against the other major currency pairs, particularly Euro. Oil markets are looking week with Brent crude about to break below the critical $100USD per barrel level while gold is largely unchanged as Bitcoin deflates to daily support, currently at the $43K level and going nowhere:

Mainland Chinese share markets are unsettled given the ongoing COVID domestic problems, with the Shanghai Composite currently up 0.5% to 3253 points while the Hang Seng Index has down more than 0.3% to 21737 points. Japanese stock markets are quite unsteady with the Nikkei 225 likely to put in a scratch session here, currently up 0.1% to 26931 points while the USDJPY pair is pausing once again, this time consolidating just below the 124 level after its mid week breakout on USD strength continues to build potential:

Australian stocks were the best in the region again with the ASX200 looking to close 0.5% higher, but still shy of the 7500 point level, while the Australian dollar has stopped falling, now looking to get back above the 75 handle as selling seems exhausted here:

Eurostoxx and Wall Street futures are lifting after the wide ranging sessions overnight where the BTFD obviously stepped in to calm nerves. The S&P500 four hourly chart shows a bounce off the 4470 point level, but this could quickly turn into another tumble down a set of stairs although the signs of a short term upswing are building:

The economic calendar finishes the trading week with a whimper with a few secondary ECB and Fed speeches to look out for.

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Comments

  1. haroldusMEMBER

    JohnR you were talking goon bags making a comeback. You mean 2L artisinal chardy or 5l Mount Bingar?

    Also when we were kids we didn’t have much money, so mum would make baked bean sandwiches for our school lunches. A taste I retain today, to my missus’ delight.

    • Diogenes the CynicMEMBER

      Baked bean sandwich and goon bag chardy! Now there is a combo begging for a Fast Food franchise.
      The old man upgraded in the early 90s from the 4L to the 2L box. I think it was Yalumba at the time. I still remember the black box on the top shelf of the fridge.

    • Tinned spaghetti sandwiches too! Not sure if that makes us comparatively poorer or wealthier…

      • TailorTrashMEMBER

        you were lucky ……we used ta dream about tinned spaghetti sandwiches …..

        • ErmingtonPlumbingMEMBER

          When I was a boy We ate a lot of tinned spaghetti but not on fancy sandwiches as we couldn’t afford the bread and we always are it cold right out tf the tin because we couldn’t afford to heat it.

      • Tinned spaghetti jaffles – that was living! For those unlucky not to have tasted this delight as a kid – jaffles were those toasted sandwiches where the ends would seal – keeping the contents hot enough to burn the sh*t out of you every time.

    • reusachtigeMEMBER

      I remember once we sipped our Chateau Lafite Rothschild through a straw pretending to be poor. Hilarious times! It sucked. Like being poor.

    • Nah, Ermo’d be throwing the material he works with. That stuff that looks like clay, but isn’t clay!

  2. The Travelling PhantomMEMBER

    Gunna, would you please check with the lords of this site to fix if possible the delay in loading the pages and comments? Been going on for a while and few others raised it…not sure what’s going on.
    Thanks in advance!

    • call me ArtieMEMBER

      Hi Travelling P.
      That’s not how you submit a problem report you know. I’m not talking MB here, I just mean in general IT terms.
      You have to say what happens and when it happens and what actions you took to make it happen. Also if possible what ISP you are using, what OS you are using and what browser. What time of day does it happen?
      This is because a web person cannot fix your problem either at their end or at your end unless they can REPLICATE the problem. Without that vital information they are helpless.
      The site is working fine for me and has been for a long time. But that is not saying there is not a problem. You need to provide more info. Artie (not affiliated with MB web admin in any way)

      • The Travelling PhantomMEMBER

        I’m really happy it’s working well for you…opens the probability the rest who have this problem and I might be having slower access to MB website is due to bigger conspiracy!

        • call me ArtieMEMBER

          Yeah. You and your like are such a detriment to this community (not). I love your work.
          I am going to hazard a guess as to the problem. No specific info, but just years of administering web sites.
          Whatever platform MB is built on probably calls up lots of outside code libraries in the background to provide functionality like the hugely-loved and famous MB moderator function. I am going to hazard a guess that when pages are loading very slowly for you, it is most likely a problem with loading some of these background files that come from global servers like google etc. I’m not sure why that would happen exactly. More info needed from you to work that out.
          I might be totally wrong. But that’s where I would start if I was trying to solve it.
          Thank goodness I’m a farmer now, not an IT guy anymore. I don’t have to understand this stuff now. Artie

          • Congratulations on making your escape. That last line of yours is exactly me also. I find farming to be way more complicated that anything in IT, however…

          • Speaking of farming. Just had 4 dams renovated with excavators and dozers. Got to re-seed and mulch and wondering if I go the full 12 way cover crop or keep it simple with perennial rye and clover. Have been importing lots of wood chips after reading several fungi books and have been using that as deep litter under sown with seed to good effect. The new septic trenches are also getting the same treatment, we had a hit dry period over summer and could not keep everything moist enough to grow the grass back effectively. As you say, farming is more complex than most realise with a mix of ecology, biology, chemistry and machinery.

          • I was a Farmboy, moved into Industrial, then a touch of Finance, & then the markets – if my health allowed I’d be a machinist on the farm. But I remember it being hard & relentless & most of the farmboy lifers I know are wrecked with that typical farmers build & gait…….

          • Maybe Beijing more likely as the “elite” DLS has upset them! 😄

            It might be browser based as the one that came preinstalled (very basic) seems OK, while Firefox is not, even using “nightly” version with no addons. Maybe due to it’s built in privacy settings or as suggested above. Though as some only getting affected today or randomly maybe not?

          • Mine’s only become notable with Macro Arvo this Fri night. Using Brave….. WE Links seems alright with a quick check.

      • It doesn’t load regularly on my Android, Google search MB. However once Macro Afternoon is loaded all the days content is available.

    • While we’re at it, can we also have a feature that let’s us colour the background of our comments according to our mood? I’m feeling very Dark Spruce right know and I’d like a way to reflect that.

  3. Don’t take any notice of Covid hospitalisations in the US any more……the fix is in officially…….total hospitalisations are the go but beds available are a lot less as the nurses leave so still dodgy…….HITH whether you want to or not

    https://twitter.com/medriva/status/1511847433235537924

    Sending them home from hospital in England now while still sick……………hospitals full

    https://twitter.com/andrewgregory/status/1511770226127425540

    Can’t wait for the kids to go back and winter to start

    • ErmingtonPlumbingMEMBER

      I tested positive on a RAT this morning.
      The family avoided getting infected while the daughter had Covid about 2 or 3 weeks ago.
      But me boy tested positive on Tuesday the same day he asked me to get him some throat lozenges.
      I had a sore throat too at the time but tested negative every day until this morning.
      The cough really came on last night after 2 days of getting drenched in the rain Jetting blocked drains. Miserable work in the rain but I change extra when it’s p!ssing down.
      The wife is sleeping with the daughter tonight and I’m Banished to my room until Easter! She really doesn’t want to get it but she keeps going on about how I coughed right in her face last night while we were asleep.
      Who going to look after me if she gets sick!
      🥺

      • haroldusMEMBER

        I did too, have been sick since Tuesday and finally took the RAT this morning.

        • ErmingtonPlumbingMEMBER

          Clearly we have some kind of special connection to be so in sync with each other all the time.
          Have you got the full Influenza like body aches?

          • haroldusMEMBER

            Yeah all down legs torso and sometimes wrists. It sucks! And won’t go away.

            Bloody CCP.

          • Let us know about when you get the wild mood swings and feeling like you need to pee all the time.

          • My hips starting shaking uncontrollably, though I’m told that’s because I had the Lambada variant.

          • reusachtigeMEMBER

            Ok, I finally caught it two weeks ago. I honestly thought I must have been immune because of all the random saliva I’ve sucked down including those that became cases. But I got it, so it must be a version thing where it finally upgraded me. I’ve been sneezing and runny nose for two weeks. Some days nothing, other days full on and can’t even breath through my nose. Like severe hayfever. It’s up and down. No other effects at all other than the mood swings old mate mentions here and a doppiness. But that may be the lack of party goods. No aches, sore throat, cough. Just a farkn annoying congestion. Two weeks! And rats were negative for first week. Now the T line instantly lights up thick. So after my 7 days I hit peak infectiousness. But hey, I did my 7 days. We need the UK system of ZERO isolation and party on!

          • The Travelling PhantomMEMBER

            ^^ that’s when you disappeared and everyone was wondering where about were you.
            You said you went to Thailand you cheeky bãstard

          • reusachtigeMEMBER

            ^^ Nah, I was back a week and a half before it came on. I was actually in Argentina for two weeks. You all said Thailand. Unlikely from OS but maybe the flight as it was via Miami and LA. A week and a half is a long time though for current versions.

      • reusachtigeMEMBER

        The chicken sh1ts on here have made me realise that you are probably about to die! At best, you’ll take up a hospital bed, if you’re lucky, because they are all full and there’s no nurses left alive. Good luck! You’re gonna need it because you’re dead already!!

      • Our 3 person house all got it as well, including the 4 month old. Aches for a day, stuffiness for a few days and now a cough which is pretty mild overall. Went into it fit so bouncing back pretty fast.

        The bubs doesn’t seem to care in the slightest which is good to see.

      • U.S. Deaths: 1,011,096

        There is a psychological term for people that can’t judge risk not only for themselves, but others, beyond the very short term due to desires/habits demands. Lack of being informed has a major role in it IMO.

  4. Where’s the coverage (of the non MSM coverage) of Friendy Jordies recent expose/scandal on Liberal politicians past and current?
    Its dynamite!

    • reusachtigeMEMBER

      The Chinamen are the ultimate Covid chicken sh1ts. I hate those carnts!! I hate anyone wearing a mask too.

      • The Travelling PhantomMEMBER

        What do you think of those driving their own cars alone with a mask on!!!!!!?????

        • reusachtigeMEMBER

          Oh man, they’re really farkt up! They deserve to be carjacked. Their weakness is so severely on display.

    • Mr Thomas said they were grateful for the support and hoped people would learn from what happened and “stop fuelling hate”.

      “It would be good if people were held legally responsible for online harassment and defamation, like this whole situation,” he added. “It’s easy to be a keyboard warrior at home in your own space, but it actually damages real lives.”

      Sounds to me like the media is trying to help the Liberals create laws around unmasking of online commenters to silence free speech and curtail our abilities to hold the political class accountable and stop corruption.

      Are you for or against free speech Reusa?

  5. Hugh PavletichMEMBER

    New Zealand … Politically created and unnecessary inflating housing lot / section prices … still …

    Section prices rise across the country defying the housing market downturn … Brianna Mcilraith … Stuff NZ

    https://www.stuff.co.nz/business/128282713/section-prices-rise-across-the-country-defying-the-housing-market-downturn

    Strong demand for sections is increasing prices of land throughout the country. … read more via hyperlink above …

    Housing Affordability – Stuff New Zealand

    https://www.stuff.co.nz/life-style/homed/housing-affordability

    … An essential read … behind paywall …

    Shrinking cities: Is urban life losing its allure? … Jane Clifton … The Listener / New Zealand Herald

    https://www.nzherald.co.nz/nz/shrinking-cities-is-urban-life-losing-its-allure-in-the-wake-of-covid/VFSBM3KXDQWE6IXU7263PUQ67E/

    In NZ and around the world, Covid has prompted people to leave big cities in droves. Could this be the beginning of a huge shift?

    At 22, Sophie-Lee Archer is way outside the profile of people who would normally move to the provinces for a quieter life. As an Auckland restaurant manager, she’s used to being on high alert. But after two years of Covid hogging the headlines, it all got a bit too intense.

    “Just about everybody you talk to is angry or upset, and it’s all anybody talks about.” Even off duty, she found she couldn’t escape the general anxiety. “I always thought one day I’d like to move to Tauranga, to be near the beach and the open air and have some space – just not this soon.”

    Archer is about to start work managing a local restaurant and has already found a flat more affordable than her Auckland one. A friend is moving to Australia’s Gold Coast for similar reasons. “He just wants a bit of peace from all this anger and craziness, and an easier pace of life.”

    Melanie Tuala feels much the same way. After 11 years in high-stress jobs in Auckland and Wellington, the 34-year-old has recently moved to rural Bay of Plenty. For her, the crunch came after the second lockdown.

    “We’d just had enough and decided, now’s the time. So we chucked most of our stuff into storage, except what we could fit into the SUV, and we crossed the [Auckland] border and got a rental down here and started looking for houses.” … (behind paywall) … read more via hyperlink above …

    … A perspective from the United States …

    Huge spike in domestic migration from urban cores … Wendell Cox … New Geography

    https://www.newgeography.com/content/007407-huge-spike-domestic-migration-urban-cores