See the latest Australian dollar analysis here:
A great finish to the trading week here in Asia, with all share markets putting in strong sessions today as risk concerns over global growth take a back seat. The USD remains super strong against all the majors although extremely oversold Euro is finally looking to take a small upswing as the European session starts amid some important economic data prints. Oil markets are inching slightly higher in the wake of the energy crisis in Europe with Brent crude still above the $105USD per barrel level while gold is finding some buyers to fill in the last two nights of falls, currently breaking above the $1900USD per ounce level, as daily momentum still remains negative:

Mainland Chinese share markets soared throughout the session, with the Shanghai Composite up more than 2% at 3045 points while the Hang Seng Index is doing even better, up 3.2% at 20926 points. Japanese stock markets are closed for another holiday while the USDJPY pair has taken back a small amount of its overnight move, still hovering above the 130 level however:

Australian stocks have ended up 1% higher with the ASX200 finishing the week at 7435 points. Meanwhile the Australian dollar is trying to get out of its recent funk, lifting back above the 1 handle but not yet following through with a substantial close above the high moving average as macro factors continue to weigh the Pacific Peso down:

Eurostoxx and Wall Street futures are looking somewhat better with the S&P500 four hourly chart showing price wanting to get out of this bottom pattern with the potential to breakout above ATR trailing resistance at the 4300 point level building:

The economic calendar finishes the week with German and Euro wide GDP flash prints, plus US core inflation and Michigan consumer sentiment prints.
- Macro Afternoon - May 20, 2022
- Macro Morning - May 20, 2022
- Macro Afternoon - May 19, 2022
Good afternoon one and all,
especially Boom! Hopefully you have finished what that stupid body corp wanted and they are off your back
failed to submit to under the table kick backs
Que unity disintegrating?
“The European Union will consider energy companies complying with Moscow’s requirement to open a second account, with Gazprombank in roubles, as a violation of sanctions against Russia, EU officials warned.
The EU “cannot accept” that payments in euros for Russian gas are considered completed by Moscow only after they are converted into roubles, the official said.
The EU official said:
If companies pay in euros, they are not in breach of the sanctions.
What we cannot accept is that companies are obliged to open a second account and that between the first and second account, the amount in euros is in the full hands of the Russian authorities and the Russian Central Bank, and that the payment is only complete when it is converted into roubles.
Such a system was an “absolutely clear circumvention of the sanctions”, the official added.
There is “consensus on this from all member states, is that none is willing to pay” in roubles, a senior EU official said. “
“The biggest need, in the long-term, is to make sure at least 80% of young working couples who desire to, can buy a house, and start a family in their mid 20’s and do so without major financial stress.“
For 80% of Boomers this was doable for sole income families.
What happened?
John Howard became prime minister
Yes.
The answer to that is a no brainer – the LNP has been in power for the majority of the last 25 years.
What Happened?
Really? We created excess liquidity which simply didn’t result in a dramatic increase in Multi Factor Productivity?
Excess labour coupled with excess Capital is suppose to lead to an increased risk taking, increases in new business formation, increases in new product development and increased labour Productivity, but it didn’t
What we got was Asset Finalization coupled with a dramatic decrease in new business formation and the complete decimation of our few product Design focused business. There was no increase in risk appetites except in so far as asset procurement was concerned.
the rest as they say is history.
After Plaza II retail banks were denied its traditional income sources due to the advent of the globalist shadow sector in global distribution of capital or its risk weighing. All acerbated de-funding and deregulation agendas w/ a side of revolving door antics of any public notion of good to a population vs the opportunity for a few to make incredible amounts of personal wealth because some said it was the natural state of humanity … skydog said in antiquity … and no one can refute it.
What happened ?…………Our idiot governments decided that selling our children’s homes ( the very soul of the nation ) to foreigners …..setting and driving up the perceived value of all homes and that this was a good idea to create wealth for the “economy” …..The “economy” that no longer seems to serve our children ………Garn Straya !!
Lots of things, capital gains tax discounts, banking deregulation, foreign buying, asset hoarding, super low rates of interest, massive immigration. All fixable, if desired.
lmmaso when it fiddles with Plato
Well I thought I must be immune but on Tuesday I took a RAT and tested positive, the week went downhill from there.
This “Spicy Cough” is no joke, I never been this sick before (basically bed ridden for 3 days)
I’m on the mend now F’me this virus kicked my butt.
Glad you are on the mend, get well. And hopefully you will be back to chase the situation of Australian industrial capabilities in your posts
don’t have the time to run down all these bogus figures I’ve got a much more important project going on.
It was incredible just how bogus the reported product exports really are
The thing is I still don’t know why, when I understand Why I’m certain the depth of the manipulation will be clearer.
The market wants you to die so it can clear you off its balance sheet, non productive, see Jefferson’s nail shack thingy
Glad you’re ok
Were you one of the ones LOLing this off ItZ JuST tHe C0Ld
I don’t believe I was, however I was somewhat fatalistic especially about the end game (as in everyone gets it) so I didn’t really understand the delays that others had in accepting the inevitable.
Unlucky!
just curious:
1. are you fully vaccinated?
2. what strain of C19 did you get?
https://www.sws.bom.gov.au/Aurora
We’re a chance tonight. Too cloudy around here though.
It’s too cloudy and off an on rainy
https://spaceweather.com/images2022/29apr22/m1p2_red.jpg
How do you read that image? What I should be noticing?
Ta in advance in case I fall asleep
You get these fissures in our sun that blasts radiation towards the planets. That causes the geomagnetic storms that kick off the auroras.
Basically.
If they’re too feisty they shut down our satellites and we all die.
Basically.
That fissure in the top right…
Thanks
United Australia Party candidate in custody over 13 charges
https://www.theage.com.au/national/election-2022-live-updates-anthony-albanese-returns-from-covid-isolation-morrison-says-nation-shouldn-t-risk-labor-government-one-nation-to-preference-labor-in-some-seats-20220428-p5agz0.html?post=p53nfo#p53nfo
should’ve joined a proper party.
Lol
A new funny line by Scomo :
“You can’t necessarily change the price of the lettuce,”
So, how is the LNP going to pay for all the lettuces for their wet-lettuce efforts? Oh, that’s right they put it on the taxpayer tab.
Lettuce all pray ………
Lol good 👍
That’s so bad @TTW could have said it.
Liar! The LNP changed the prices of houses, surely lettuce would be a cinch!
This romaines to be seen, but prices are gonna rocket.
It’s the tip of the iceberg!
It’s a tip of something 😉
Cos ?………
Prices go up
Just becos, just becos
All apologies to Janes Addiction
I been caught stealing, once, when I was sixty
I enjoy stealing, it’s just as simple as that
Ah, well, it’s just a simple fact
When I want something, man
I don’t wanna pay for it
Now I walk right through the door
And I walk right through the door
Hey, all right
If I get by
It’s a-mine
Mine, all mine
Hey!
Philthy Phil Lowes Addiction
Also, if only we had something like a Grocery Code of Conduct, that would sort all this sh!t out eh.
It did. It sent “Lidl” packing before they even opened a single store.
Wasn’t it Kaufland?
Harry, to add to yesterday’s boat builders list, there was also Kinnears Rope. Their factory took up a whole city block on Ballarat Rd, Footscray. Shut down in 2002.
They couldn’t keep pace with cheaper synthetic fibre imports, and yet now sailing rope is as expensive as ever. (Fkn!)
I remember them from my dad’s boat.
*sigh*
As a demographer we need to import more lettice
Do demographers eat lettuce?
Only when it’s hidden in donuts
What a Salty comment! 😆
No, statistics salad and pie charts
Someone ate all the pie charts.
Talk to a Politician, Get Arrested
https://www.youtube.com/watch?v=Czstd6jDIVY
This is good as well, & when I say good I mean freaking awesome!
https://m.youtube.com/watch?v=vUg9CAbFH3o
Jordies
LNP most corrupt government ever!
Must watch & only a 10min vid
What a delight he is ……………do journalists in their cubicles in MSM look and wonder what they are doing …….
……love that boy ……..( no …not in a boy love way …….)
FJ exists because MSM won’t do their jobs.
…..and they try to dismiss him as a comedian………guess they don’t get that they are the joke …….
Dude on the marching powder? He seems quite aggressive.
reus you know this guy?
https://www.dailymail.co.uk/news/article-10765955/Westpac-bank-warn-rate-rises-huge-drop-property-prices.html
it’s a beautiful thing
https://www.macrobusiness.com.au/2022/04/what-kind-of-global-recession-is-coming/#comment-4268017
https://www.govtrack.us/congress/bills/117/hr6869/text
“To authorize the President of the United States to issue letters of marque and reprisal for the purpose of seizing the assets of certain Russian citizens, and for other purposes.
The President of the United States is authorized and requested to commission, under officially issued letters of marque and reprisal, so many of privately armed and equipped persons and entities as, in the judgment of the President, the service may require, with suitable instructions to the leaders thereof, to employ all means reasonably necessary to seize outside the geographic boundaries of the United States and its territories any yacht, plane, or other asset of any Russian citizen who is on the List of Specially Designated Nationals and Blocked Persons maintained by the Office of Foreign Assets Control of the Department of the Treasury.”
Skippy will have something to say on this!
Lets hope it can incorporate the spirit of tonights salad theme.
Is there lettuce in Russian salad?
Lettuce hope …….
……..and there was us thinking that China’s security laws being applied outside China were overreaching…………
Exactly!
Yeah,
If only they had done some of this stuff about Russian oligarchs 25 years ago……
If only they hadnt been so desperate to prevent the Russian communists from being popularly elected in 1996…..
If only they addressed the same behaviours from the Ukrainian oligarchs……
etc etc etc
If only they’d do something about Gerhard Schröder. The SPD look to be as corrupt as the LNP!
Edit: Right now! 😀
This!
“Oh, the year was 1778
How I wish I was in Sherbrooke now
A letter of marque came from the king
To the scummiest vessel I’ve ever seen
God damn them all! I was told
We’d cruise the seas for American gold
We’d fire no guns, shed no tears
But I’m a broken man on a Halifax pier
The last of Barrett’s Privateers”
Echoes of Elizabeth I in the issuing of letters of marque! State sanctioned piracy in the 16th century.
Something new for the bucket list: watch cricket while drinking asahi and eating ramen in Japan
https://youtu.be/x6LfVBKBV4A
Is it racialist to make the observation that Asians have a distinctive style of running?
https://twitter.com/jedmark888/status/1520000973476876292?t=S5FsghakWudKK2t8eoCZpw&s=19
“The real news is not in the headline: “Beijing is considering pushing some of its biggest tech companies to offer 1% equity stakes to the state and give the government a direct role in corporate decisions.” @ACGlobalChina https://t.co/JYW3cKUtdl
wasn’t bitcoin mean’t to be an inflation hedge?
We don’t talk about Bitcoin anymore.
(2,461.57%) increase in past 5 years.
https://www.bbc.com/news/business-60912789
The recumbent wins again.
https://youtu.be/uk2ou5gt_94
Recumbent two-wheelers have a problem because they place the centre of gravity too low. A low C.O.G. is good for four-wheeled vehicles, but bad for two wheelers. Reason why:
Think of the old trick of balancing a 1 metre long stick vertically on your finger. Pretty easy if there is a weight at the top (example a broomsick upside down) Pretty hard if the weight is at the bottom. Hence recumbents always proceed with a fairly obvious wobbling trajectory.
Recumbents also concentrate the C.O.G. towards the rear of the machine when the rider is on board. This means they are a real handful if the rear tyre loses traction for some reason like a slippery road. All that weight over the rear wheel makes for a great big pendulum that is not easily recovered (example older Porsche motor cars). Admittedly, losing front wheel traction on a conventional two-wheeler is also a major event for the same reason, that is, weight distributon.
They are definitely different beasts to ride. I’ve had the back feel like it was going to come out at about 70km/hr when going down a range on an recumbent bicycle. It’s a different heart stopper to the front wheel wanting to go.
3 wheel recumbent electric motorcycle might be a better option. However, the motorcycling community is like most others and very hesitant to accept things that differ. So, it’ll probably remain a good idea that is difficult to get enough uptakers to see if the benefits are as predicted by the advocates.
New Zealand … The exodus of Kiwi workers …
… New Zealand’s cost of living and cost of housing have been getting out of hand for a very long time …
… Now its time to reap the consequences …
London calling: Inside the fight to halt the exodus of Kiwi workers … Jane Phare … New Zealand Herald
… behind paywall …
https://www.nzherald.co.nz/business/the-exodus-what-kiwi-employers-are-doing-to-fight-the-skilled-worker-shortage/5YVSZA3HIB6J4RBD3UFENWES4E/
Nothing’s going to stop thousands of cooped-up young Kiwis from heading off now the borders are open but their departure can only exacerbate critical shortages of skilled workers. In the first of a five-part series, Jane Phare looks at what employers are doing to retain skilled workers, and what part the Government will play in terms of immigration.
Newly trained occupational therapist Jenelle Thomson doesn’t hesitate when asked why she left New Zealand in February to take up a job in Brisbane.
“It was the money,” she says. That and the cost of living in New Zealand, and the possibility of buying a house in Queensland much more easily than in Auckland. Thomson, 25, hasn’t looked back since heading across the Ditch. She left behind the prospect of a job as an occupational therapist earning $55,000 a year at Middlemore Hospital after graduating from AUT.
In Brisbane she started on $76,340 in a private practice. If Thomson transfers to clinical work in a hospital, she is likely to earn more than $100,000. Her Kiwi partner, a civil engineer, is earning $30,000 a year more than his previous job in Auckland.
Their weekly grocery bill is $140 for themselves, and includes cooking two meals a week for two flat mates, compared to more than $200 a week in New Zealand. The couple are saving to buy a house about half an hour out of the city for $545,000.… behind paywall … read more via hyperlink above …
Their bills will be going up here though, we are 6 months behind NZ.