See the latest Australian dollar analysis here:
More falling share markets here in Asia to finish the trading week, after another bath of blood on Wall Street overnight, following the rate rises from the BOE and SNB. It was the BOJ turn today, but they kept the rudder steady and didn’t join the rate rise party. The USD remains weak against most of the undollars, with the bounce in the Australian dollar again rolling over at the 70 cent level while Euro has given back some of its big gains overnight. Oil prices are drifting sideways, with Brent crude just above the $119USD per barrel level while gold is failing to follow through on its overnight bounce as its struggles to get off the ropes here at the $1845USD per ounce level:

Mainland Chinese share markets remain volatile with the Shanghai Composite currently up 0.6% to 3305 points while the Hang Seng Index is bouncing back even harder, up more than 1% to 21077 points going into close. Japanese stock markets are not liking the neutral BOJ stance with the Nikkei 225 index about to close 1.5% lower, currently at 26031 points while the USDJPY pair has continued its modest bounce back to be just under the 134 handle:

Australian stocks are not doing well in their final session of the week with the ASX200 looking to finish nearly 2% lower, currently at 6470 points. The Australian dollar hasn’t been able to translate its overnight bounce back above the 70 cent level into more upside here, with four hourly momentum not yet overbought, as I still contend the Pacific Peso is looking very weak here as the RBA is in a pickle (of its own making):

Eurostoxx and Wall Street futures are slowly drifting higher here, trying to lick the overnight wounds that saw bourses on both sides of the Atlantic drop between 3 and 4%. The S&P500 four hourly futures chart shows price action still crushed at the 3700 point level as the May lows (lower horizontal black line) slowly turn into resistance here:

The economic calendar finishes the week with Euro core inflation prints for May, then a speech from Fed Chair Powell to keep an ear on.
- Macro Afternoon - June 24, 2022
- Macro Morning - June 24, 2022
- Macro Afternoon - June 23, 2022
Step one: find a house that costs 3.33 your gross single wage.
https://www.dailymail.co.uk/femail/article-10921821/How-pay-mortgage-fast-Nurse-reveals-exactly-paid-home-loan-10-years.html
It’s a miracle!
What if I don’t want to live in Kazakhstan?
You will just have to rough it in rural France!
Step two: find a woman you don’t like very much and sign it over to her.
Have a great weekend everyone!
I’ll try, but no promises
👍🍷
Just a leeeetle tongue in ze ear no? (in phanny’s accent)
https://www.dailymail.co.uk/news/article-10924389/French-DISS-Zelensky-looks-far-enthusiastic-Macron-awkwardly-tries-hug-Kyiv.html
Hey ! Don’t mock Le président! Lol
China / Taiwan …
Taiwan Touts “Ability To Attack Beijing” With Supersonic Cruise Missiles … Zerohedge
https://www.zerohedge.com/geopolitical/taiwan-touts-ability-attack-beijing-supersonic-cruise-missiles
Taiwan officials are now touting that they possess an advanced cruise missile which is capable of hitting locations on the Chinese mainland, which could be launched as a counter-strike in the event of a Chinese military invasion of the island.
You Si Kun, President of Taiwan’s Legislative Assembly, recently said in a media interview that Taiwan’s military wouldn’t shy away from using its Yun Feng supersonic cruise missiles if under direct invasion threat. “Yung Fend missiles can already hit Beijing, and Taiwan has the ability to attack Beijing,” You said, as cited in Liberty Times Net, and further described in Fox News. Supersonic missiles are capable of traveling faster than Mach 1
The top official invoked the example of Russia’s rapid, ‘surprise’ invasion of Ukraine – suggesting that military preparedness as well as basic geography would stall a Chinese PLA advance deep into the island. … read more via hyperlink above …
I wouldn’t have told them, surprise the shite out of ’em in the moment. The bloody steep mountains might help slow an invasion down too.
Ha! That would p1ss on Xi’s plans if legit! Bet if Ukraine had them they wouldn’t be suffering now.
Gina calls on taxpayers to protect her hard earned billions
https://www.theage.com.au/world/europe/twiggy-malinauskas-wear-russian-sanction-as-badge-of-honour-20220617-p5auh9.html
Haha saw that and the comments section funny as.
Meanwhile the Energy wars are producing some surprising and positive turnups
https://reneweconomy.com.au/kean-seizes-special-powers-over-coal-supplies-for-old-unreliable-bits-of-machinery/
Could the old Fossils have overplayed their hand ?
Trouble is they are going for a market based solution and we are going to get stuff like this.
https://www.theguardian.com/australia-news/2022/jun/15/global-fossil-fuel-giant-bp-buys-40-of-us30bn-pilbara-renewable-energy-project
Eventually they will twig that the energy production system will have to be nationalised to go green and they may as well start now, but it will be too late………..neo-liberals to a person.
Lol it has always been the neoconmen pushing the green agenda for power and money. Al Gore had a massive stake in clipping carbon credits afterall. And don’t get me started on IPCC junkets, you’d think they would teleconference rather than flying private jets if there was actually a real problem.
Are generators still paid separately for energy and capacity?
I was working in the UK in 1988 as the electricity market was being designed. The original system implemented at the time of privatisation required generators to bid separately for:
a) energy (a relatively low price per GWh of energy produced); and
b) availability/capacity (a relatively high price per MWh of available generation) paid irrespective of the amount of energy actually generated.
The two were combined (together with the price for ancillary services such as voltage stabilisation) and averaged over the total GWh generated to create the final price.
Is this still how it works? Or have the two elements been collapsed into one price per GWh. If so, that would seem to me to be the root of the capacity problem: generators aren’t paid enough for capacity while low-cost energy producers are making excess profits.
But I’ve been out of that industry for decades now.
Since no one else responded:
I don’t know. My understanding is that there is a spot wholesale price for electricity which changes every minute and the generators can decide to generate and sell at that price or not.
The system you describe is far more sensible (for the public).
Sex silicone doll generates more money than humans by having only fans account
https://www.news.com.au/lifestyle/real-life/news-life/inspirational-sex-dolls-are-the-latest-influencers/news-story/ab7e4ca6cbde56dfff78414b61ae010c
The word has gone nuts!
…..and she never needs plastic surgery to retain her looks ……winner !
Joyce may have killed Qantas?
The gombeen gobsh!te.
How Many millions has he bled out of them for himself ?
…….the spirit of straya it is …….
What’s he done this time?
That’s homophobic ya see 🙄
Funny you should say that.
Impossible as it may be to believe, it appears our ROP enthusiast friends may not be allies either.
https://www.dailymail.co.uk/news/article-10911025/United-Arab-Emirates-bans-Pixar-s-Lightyear-cinemas-l#sbian-kiss.html
(swap e for #)
Money trumps everything I suppose
I tell ya what, it’s stuff like this make makes the religion look intolerant, and almost not like a ROP.
https://www.abc.net.au/news/2022-05-23/indonesia-summons-britains-envoy-over-rainbow-flag/101092934
…as if they were obsessed by s3xuality…..
https://www.dailymail.co.uk/news/article-10922893/Saudi-officials-raid-shops-rainbow-coloured-toys-clothes-crackdown-homosexuality.html
How much chardy have you consumed?
Why do you ask?
Multiple ROP posts are usually results of chardy aren’t they? Lol
I have but begun to chardy, but here’s another one in which I’m not sure Qatar is getting the inclusive message.
https://www.cbc.ca/sports/soccer/[email protected] (swap a for @)
Also, I don’t actually seek these out, these are usually side links.
Indeed, my old friend.
I thought he was referring to another 2 inches of his
Mind always in the gutter, phanny.
(But some of us are looking up at the stars).
Well when you end your post with
“indeed my old friend”
I’m definitely going to think that as i thought you were talking with it lol
Only Jason looking at the stars with his great photos of galaxies he share in the weekend sundries
Harry’s always saying “It might be needle like but it goes like a sewing machine”
But I don’t think this leaves Harry’s lady friends feeling anymore reassured,…or satisfied.
Poor Harry
A fact for which ermo is eternally grateful.
Sydney Property Prices Seen Falling 20% in Harbinger for Nation
https://www.bloomberg.com/news/articles/2022-06-17/sydney-property-prices-seen-falling-20-in-harbinger-for-nation?srnd=premium-asia
What do you think of the Aussies got sanctions from Russia today, weird combination from Andrew Bolt to Gina to Tony Wright
It’s appalling. That’s one less potential country for Andrew Bolt to disappear in.
Ouch! Lol
If I ever have money and own a TV channel I’ll definitely give you “the tonight show”
Harry “better homes and gardens”
Boom “How to DIY things at your home”
Desmo for “travel guide”
Bcnich “market wrap”
Build your own car by Gav and LeMon3
And other suggestions are welcome!
ermo: queer eye for the tradie.
^^ Definitely our TV channel welcomes lgbtqa
Does Bcnich do the late night horoscopes and tarot card readings?
Reusa on dating, love and sexual health.
I feel like a bit of a goose buying beers that cost $12 a stubbie but damn they’re good.
Finally been hitting the Black Sheep bottleo in Newmarket (Bris), asked about it on here yonks back and can’t remember who replied saying the range was good (was at least 2 of you) but have become a bit of a regular buying all the boutique oz beers, especially the Tassie ones. Real good stuff when you can’t source any bunnamagoo
And you will be better for it the next day …
Funnily enough at 5:08 I started the bones of a song called “Hipster beer”. It’s about the dearth of non-floral beer in Newtown.
Hipster beer, hipster beer. The only beer you can get round here.
I once walked west end to fortitude valley in Brisbane and only one venue had xxxx on tap. It’s not my go to but I thought since I’m in Brisbane I best have one. The sad thing is that all the other beers were the same ones I could have bought in Melbourne at the time.
Hobart is still my favourite Australian city to go drinking in. So many dark beers. Plus the locals are loco in a fun way.
I’ll drink to that, great attitude you have dear sir, although your foot is sore
XXXX Bitter almost non existent on tap in SEQ these days, the mega brewers have been pushing Great Northen and Iron Jack hard and they have absolutely destroyed the market share that used to be Bitter. XXXX Gold still around on tap but nowhere near as prevalent as the past. I drink XXXX Bitter on tap purely from a dumb banana bender nostalgia/refusal to change but it’s becoming difficult.
My ultimate tap beer choice would be coopers but yeah, super rare on tap round here.
Thanks Mr Footsore. That is my kind of travel advice. Dark Beer…..mmmmmmmmm.
Hipster beer, Hipster beer. The drinkers all damage your ear.
Obscure drops, poured in pots, to be had at outrageous costs.
We just made some interesting imperial stouts (in a 500ml can). At 5 standard drinka a pop you kind of need a friend to share with.
I dunno if it’s a blessing or a curse, but I find all alcohol taste horrible, although some are definitely more horrible than others. It does save a lot of money going out though.
➕️1 I rarely enjoy it , apart from whisky neat or with a drop of water maybe. And not more than 3_4 times (drinks)a month
And not more than 3_4 times (drinks) an hour.
Girly men. I drink therefore I am.
Going out? What’s that? I’m a shut in, thought we all were…….
Lol
Some of us lead double lives.
Yes but you are from a race that lacks alcohol dehydrogenase, no?
Mongol?
I believe the term is Dunning-Kruger Mong. Speaking for myself.
😀
I don’t drink much, but I do like a good wine or spirit on occassion.
https://www.theage.com.au/world/europe/twiggy-malinauskas-wear-russian-sanction-as-badge-of-honour-20220617-p5auh9.html
“We urgently need millions of smart mines in our thousands of kilometres of otherwise indefensible oceans,” says the billionaire
She’ll be calling the peasants to take up arms soon enough
Shirley she can get some Africans.
https://www.abc.net.au/news/2012-09-05/rinehart-says-aussie-workers-overpaid-unproductive/4243866
Bruz has been given a job in the states. Trade commissioner or something.
Big taxpayer funded wage and out of sight for the next nsw election.
*sigh*
Where’s anti corruption commission when you need one!!! 😤
I’m wondering if they’ll drag him back from New York when NSW ICAC sits again.
Speaking of corruption.
https://mobile.twitter.com/friendlyjordies/status/1537729483083374593
WTF! NSW needs trade commissioners? And 6 of them! What are the national organization? Also sounds a lot like a national security issue.
Start thinking of the ways this can be rorted …
….how many millions ….billions ? have been rorted out of the NDIS ….as was foreseen……
meantime the heavy letters from the ATO come if you owe $500
https://www.skynews.com.au/australia-news/politics/national-leadership-federal-government-informs-fair-work-commission-it-will-introduce-10-days-of-paid-domestic-violence-leave/news-story/a87d0ac7ce27bdfa5df6a84e644f8acc?amp
Chicken feed compared to what the Irish kangaroo and Gerry H got up to with Jobkeeper.
Sad isn’t it ?…………but I come from a simpler time when social policy was administered a little more stringently ……..by a robust public service paid a fair salary
.now it’s largely privatised and hugely enriching a few at the cost of many
Hope I live to see the day people question why they get hammered for taxes to support this theft………
Expecting trouble are they as spouses hit out at each other as the economy tanks?
Drop this footballeroo cheat and give him a year’s ban!
https://www.dailymail.co.uk/sport/fifa-world-cup/article-10926219/Aussie-writer-says-Socceroos-goalie-Andrew-Redmayne-seen-borderline-cheat.html
Nah that seems kosher for soccer, just like sliding for a ball in front of someone means they deserve a penalty for pretending to trip. Good to see the Aussies are finally learning!
https://edition.cnn.com/2022/06/17/china/china-new-aircraft-carrier-fujian-launch-intl-hnk/index.html
Our iron ore turned into something!
https://en.wikipedia.org/wiki/1938_Dalfram_dispute
http://unionsong.com/u150.html
That was Australia 1938 …………this is Straya 2022 ……………..the end is neigh………………..
The Robert Menzies every liberal leader wants to be as 🤦🤦🤦
Xi has made very clear this week he is siding with Russia. Of course he thinks he’ll be able to do to this while still enjoying selling into EU etc.He’s probably right. But sooner or later the world is going to split into at least 2 blocks. Also, Xi sounds happy about his gas deal but if the West has to pay such high energy costs won’t the ensuing recession shaft China’s export model? Or does he know it won’t matter by then as he’ll be into Taiwan?
https://www.zerohedge.com/energy/after-putin-xi-call-gazprom-ceo-pledged-energy-stability-russias-friends
I don’t think any global leaders are thinking straight at the moment. Especially China / Russia. But I also don’t give too much credit to Biden either.
Ha ha China hold all the aces check all the sticky white labels on everything you buy whether junky trinket or high tech electronics it will say “Made in China”.
You do not hold the whip hand
It’s a 10 billion dollar aircraft carrier that can be turned into a floating coffin by a few 10 million dollar anti-ballistic missiles.
Ruh Roh
https://www.commondreams.org/news/2022/06/15/scale-warmer-arctic-ocean-fueling-climate-feedback-loop-faster-previously-known
Given a long enough timeline premise, all inflation is transitory.
Built up fragility from hyper efficiency[tm] pre-existing supply problems jammed ports, a chronic trucker shortage, a diesel crunch, covid/long early retirements/wage slaves sick, all doused in the metho that is sanctions against Russia by the non agreeable Atlanticist ….
Dunno maybe the Dutch shouldn’t have sent the Poms in.
https://www.espncricinfo.com/series/england-in-netherlands-2022-1281442/netherlands-vs-england-1st-odi-1281444/live-cricket-score