Macro Afternoon

By in Australian Dollar, Australian Shares

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See the latest Australian dollar analysis here:

Macro Afternoon

Asian share markets have had a tepid response to the bounces on overseas markets from Friday night, with Chinese shares still spooked by the latest retail data showing the middle kingdom is slowing down appreciably. Currency markets remain constrained by a very strong USD with the Australian dollar reverting from its tiny fightback on Friday night, with oil markets also declining with some falls back to the Friday night starting position. Gold is failing to stabilise as it continues to look weak on all the charts, about to cross below the key $1800USD per ounce level next:

Mainland Chinese share markets are playing wobbly following the latest retail sales print with the Shanghai Composite currently down 0.3% to 3077 points while the Hang Seng Index has flat lined going into the close, currently at 19909 points. Japanese stock markets are doing much better with the Nikkei up nearly 0.6% to 26580 points while the USDJPY pair has pulled back from its small Friday bounce, now back below the 129 handle:

Australian stocks had a good session with the ASX200 up nearly 0.4% to 7100 points. Meanwhile the Australian dollar slumped on the open following the weekend gap, taking back all of Friday nights little bounce as it still fails to find a bottom here after making a new monthly low:

Eurostoxx and Wall Street futures are vacillating as we head into the European open with the S&P500 daily chart showing price wanting to get back above the 4000 point level but losing momentum following the Friday night bounce:

The economic calendar is very light with some Fed speeches and not much else.

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Comments

  3. dodgy as

    Insanity is the only constant
    LNP announces an insane housing policy
    ALP (not to be out done) announces it’s own insane housing policy
    Australian public debates stupidity ALP style vs stupidity LNP style (it’s all
    insane)
    I don’t know what’s real anymore all that I can say with certainty is that it’s time for major change
    Lets start with : Die Boomer Die

  4. reusachtigeMEMBER

    I really love that new hit song that goes …

    “More taxes are coming,
    More taxes, more taxes
    There’s a hole in your budget,
    dear Labor, a hole”.

    Man that’s awesome stuff. I’ve got it on my playlist and just can’t get it our of my head. It won’t be easy under Albanese!!

    • TailorTrashMEMBER

      It says a lot about the imbeciles that now must work in advertising agencies………and a lot about what the LNP who brief them
      think of the intelligence of the Australian people ……………..then again , maybe the intelligence if the Australian people is falling

      • Timmeh

        Just happened to be bored enough to see if the boys were still spouting the same crap. Im not sure what you are implying, but its not politics related. Purely coincidental. The reason I left was purely about the way the site was run circa two years ago, when almost everything was locked down, and even if you had several hundred thousand invested with them, they stil expected you to buy a subscription. Yes, i got the shits with them big time, even after fllowing them from year dot.

        • GavinMEMBER

          I got a comment removed on FB because I shared an image of Louder with Crowder (change my mind meme) with its own slogan on the sandwich board and it got flagged as a dangerous individual / organisation being promoted. That good old Facebook AI doing a bang up job.

    • Mr Tezza

      Re: “Why are a lot of the articles unlocked now?”
      Capitulation. Years ago a couple of bogan investors thought up a model of earning high returns on certain assets.
      The key feature of the “model” was forever diminishing interest rates. So they went on promoting the “MPs” as a substitute for effective IRs… Long story short, they are about to face up to reality.

  7. JohnRMEMBER

    It’s getting like old times…I summon the spirits of Mav, Ino and Wiley Wolf!

  8. Timmeh

    Lets try again, no doubt David will delete it like he did with many of my complaints…..

    Just happened to be bored enough to see if the boys were still spouting the same crap. Im not sure what you are implying, but its not politics related. Purely coincidental. The reason I left was purely about the way the site was run circa two years ago, when almost everything was locked down, and even if you had several hundred thousand invested with them, they stil expected you to buy a subscription. Yes, i got the poo’s with them big time, even after following them from year dot.

  10. RobotSensei

    Morrison going on 7:30 tonight.

    Gee his polling numbers must look atrocious to bring on the Hail Mary’s.

    • happy valleyMEMBER

      Ah yes – that poodle. And Fran Kelly, she may as well be on the LNP payroll.

  13. TailorTrashMEMBER

    Heard Ponzi Perrottet lamenting “ a country that can’t house its children “ tonight on telly
    Well FMD ………for how long have some of us been recognising this as Mike Beard and Gladys crowed about their strong budget performance build on stamp duty ………as they housed half of China’s children