See the latest Australian dollar analysis here:
Share markets are unsteady here in Asia as we start a new trading week, and head into the end of the financial year. All eyes are on the crypto crash over the weekend, with Bitcoin bouncing back – if you could call it that – to the $20K level, while the USD is giving up some minor gains against most of the undollars, with the bounce in the Australian dollar again still unable to translate into anything above the 70 cent level. Oil prices are drifting sideways, with Brent crude just above the $113USD per barrel level after losing 4% on Friday while gold is up a handful of dollars as it struggles to get off the ropes here at the $1842USD per ounce level:

Mainland Chinese share markets are steady with the Shanghai Composite basically unchanged at 3328 points while the Hang Seng Index has slipped a handful of points to be at 21068 points going into close. Japanese stock markets are still in correction mode with the Nikkei 225 index closing 0.7% lower at 25771 points while the USDJPY pair has stabilised from its Friday night bounce back to be just under the 135 handle:

Australian stocks are also not doing well in their first session of the week with the ASX200 finishing some 0.7% lower at 6433 points. The Australian dollar has taken back about half of its Friday night losses but is still stuck here under the 70 cent level as four hourly momentum remains neutral:

Eurostoxx and Wall Street futures are slowly drifting sideways going into the European open, with the S&P500 four hourly futures chart showing price action still crushed at the 3700 point level as the May lows (lower horizontal black line) turn into resistance here:

The economic calendar is very quiet tonight with a few BOE speeches, and Wall Street will be closed for a public holiday.
- Macro Afternoon - June 24, 2022
- Macro Morning - June 24, 2022
- Macro Afternoon - June 23, 2022
Went to the factory this morn loaded up with a hydraulic bender. Had a very slow leak rear so pumped them all to 60psi except the leaker that one about 45psi. No problems but went to go home and it morphed into a fast leak. On the way home had to kangaroo hop the servos and came prepared with the hand pump which got multiple uses. A horrible experience when on the freeway ph stops which are not away from the traffic.
That’s 3 good points you’ve made.
…
You must have one weird metabolism. When I go on a bender, I prefer whiskey to hydraulic fluid.
Boom remindes me with Popeye the sailor man!
A V Jennings below 200 million cap.
Trouble ahead for everything.
Too cryptic for me Cammie.
For me it’s a bell wether corp in a bell wether industry. My home grown logic, sorry JR
More or less got it, ta.
I am curious about McDonald Jones.
My guess is that the package builders make money from land banking building not so much, land banking would be a more expensive to finance depreciating liability perhaps
There’s a lot of home buyer financing in there too.
Good stuff if someone is new to the game. Their take on CLO vs. CDO’s in the upcoming economic endgame (it is a finite planet, everyone) is breath-taking in a certain light.
(CLO vs CDO is private vs corporate debt harbingering the future crash as corporate chickens coming to roost after the failure of ‘refinancing’ consumer debt ((yes, I ran out of punctuation to denote affectations for consumer, meaning mortgage holders)) as the future of corporate effects on banking assets.
https://praxiscast.podbean.com/e/e145-orkonomics-101-remedial/
A little something for German Inflation enthusiasts…..
But there’s no social response yet, right?
When there’s a Reichstag fire we should start to get worried.
Sometimes you’ve gotta feel for the Poles.
Perrotett just bought one for $25million! 😜
Keep your hands to yourself!
The Germans have bad history in managing inflation…
WWII started because of that
How does one manage inflation after all their stuff is stolen – ?????
Do like Japan build it again, but definitely don’t elect hitler
or become russia and chyna mouthpiece
Did you miss the 20 point memo – ????
^^ I’m afraid it only got sent to you , they don’t have my address
The actions taken to force Japan into a military conflict TTP, but in the more modern sense you seem to be talking about, I would note what Plaza was about and did …
So you agree inflation is a form of theft? Haha
The inflation being discussed was the result of Germany having its productive assets taken away an left it with no source of income/trade. Nothing to do with money crankery wing nut gold bug stuff gav aka immutable tokens of labour in perpetuity. No currency in history has achieved this condition. Yet I would think after this bit of crypto implosion on so many levels you would have learned something, understand your sort has no problems when the inflation in a increase in price to your account.
QTM was refuted back in Friedman’s/Thatchers day so I don’t know what your banging on about except clinging to some corporatist ideology cut out of whole cloth. BTW Hudson has been letting it rip lately, recommend you take a peek, oh and the ling to Orkonomics too.
Read up on “The Treaty of Versailles”. Skippy is correct, it was theft. German hyperinflation was imposed on them.
https://www.pbs.org/wgbh/commandingheights/shared/minitext/ess_germanhyperinflation.html
What’s the difference Skippy?
If you lose a fraction of your assets / national income that implies a big drop in income driven money demand.
If the CB doesn’t reduce money supply accordingly and then keeps printing to meet inflationary expectations it is driven by loose monetary policy.
Sweeper the shadow/financial sector makes a joke of playing with IR, BSD are not exposed and it will always be suffered by the unwashed and anther round of consolidation.
I contrast I would point out the Ukraine was becoming another Harvard/Chicago Boy privatization play ground just before Russia took matters in its own hands.
I still don’t see what the difference is.
If China took WA the Aussie dollar tanked and the RBA left the same qty of Base money in circulation and then printed more to accommodate inflationary expectations would you say the inflation wasn’t caused by monetary policy?
Ugh Sweeper with the blind economist shtick … were talking about today and – its – dynamic which is the culmination of a lot of things built up during the globalization period and now cascading in real time.
What’s the difference though?
I only know of one modern case of currency inflation in the sense your talking about and that was Brazil back in the day and was complicated, Germany and Zimbabwe were trade shocks, one imposed by others and one self imposed for political reasons.
The case for the Atlantic nations has more to do with baked in logistical dramas associated with efficiencies[tm], Brexit[duh], pandemic – labour sick/long covid early retirement/job change et al, new trade flows resulting from sanctions and multi-polar world realignment.
Then we can go back to the GFC and that 34Tish that could not even get a whiff of inflation. Groan even Greenspan of all people was correct in informing Rand Paul in Congress that the deal was about “creating” assets in the future and not about money supply e.g. Rands gold bug concerns about strong dollar policy.
Billy Hughes was the policy’s strongest advocate.
Whoa! And they are still buying a lot of Russian energy.
Oi Sweeper, are you PRGuy?
I don’t think you are but it’d be cool if you were.
Should check that guy’s twitter, if he mentioned KFC 🍗 and food court, it’s definitely Sweeper
PRGuy is a shameless Labor stan. Definitely not Sweeper.
What’s wrong with being a Labor stan? And aren’t we too old old for this hipster slang? For real never thought to read Stan on here like that lol
I think you’ll find we are pretty hep cats on MB, daddio.
What’s a Stan?
A subset of the countries that emerged from the disintegration of the USSR?
References the song “Stan” by Eminem, basically to define a level of fandom that is a bit tarded.
There is varying uses of grammar (ie “to Stan with…” or “I stan [insert famous person here]”) that elude me as I am too fat and old to understand.
Prob 20% of my posts here have been anti Keating.
Am Definitely not pro ALP.
Explain how being anti Keating = anti Labor?
Thanks for beating me to it lol.
I get your point sweep but how is that a denial of being the no.1 Dan the man fan? Lol
Didn’t you read that Keating is a good friend of Dan?
Nah bro, I just read your posts lauding Dan (not hating).
Like I said, I don’t think you’re PRGuy, but it’d be cool if you were, like, cool for MB crew.
If you’re upset, sorry, but it’s not the 1st time you’ve been called out as PRGuy here and it’s funny cause sometimes you and that account are very in sync.
haha no worries
How does being anti the Bonaparte / architect of modern day Labor with the Keatingite disciples still firmly in control of all the right wing factions and the mythology of the Keating years guiding all their current decisions make me *not pro ALP*?
There’s more than 1 ALP lol
Forget PRGuy, we need to unmask Skippy. Haha.
It would be interesting lol
So Perrottet bought a flagpoll for $25million!!!
Only fair to spread the pork barrelling around to all folks
May he end up on it:
https://www.abc.net.au/news/2022-06-20/nsw-upper-house-inquiry-into-john-barilaro-as-trade-commissioner/101167276
And for $25m there’s likely to be room for a few more.
Sharpens pitchfork.
Screw the pitch-fork, sharpen the flag-pole my guy!
Don’t make me come back from beyond grave… because if I do, you’re going to have to sharpen all the power poles in the country, and stack them to the top!
Yes master.
All for only 25 million …….but wait there’s more …
…this might be idiot Domo’s undoing
https://www.news.com.au/finance/business/retail/banks-epic-a12-billion-fail-amid-cosmetic-giant-revlons-bankruptcy-bombshell/news-story/585c48a2002eab9c2690d8fa59467332
Not just Revlon declared bankruptcy but
Citi bank may lose big time
I hope they’ve been keeping their powder dry.
Genius!
g lord that was an easy w.
…at the end of their tether?
https://twitter.com/Bitfinexed/status/1538713827809845249
I love reading tweets from crypto enthusiasts on Twitter. Mass delusion
^^ indeed
Oh very droll.
Groan. I am not even going to try and put lipstick on that pig.
Rimmel-shot!
….because they’re worth it ……
Maybe they’re born with it?
More Covid in China……Shenzen
https://twitter.com/Financialjuice1/status/1538724054823321600
Jilin
https://twitter.com/StephenMcDonell/status/1538738552321843201
Another major lockdown coming? Their credit card will be stretched!
https://www.theage.com.au/sport/swimming/shame-on-everyone-australian-swim-stars-divided-on-transgender-ban-20220620-p5av5e.html
So logic is no more logic 🤔
And the solution becomes a problem?
Iron ore price, One year ago: $214, Now: $125
And the futures indicating another 10% decrease in price , not seeing it hitting $300 as bcnich predicted soon
I’m seeing lots of 90s Japanese classics eg: GTRs being discounted now. Didn’t happen last 2 years. Just saw 3 discounted today by amounts from $5-$10k. Actual selling prices probably lower again.
Definitely seeing the impact of interest rate rises.
Easy money made every thing very expensive..
Oh how’s the son? Did you start teaching him how to service the cars yet?
The everything bubble is popping! Just when we’d thought it might gently deflate…
They had the chance to do it in 2019, but Scomo came and wrecked the whole country
Pressured the RBA to drop intrest rates within weeks of his election, then he injected so much cash in the economy and put it on an inflation mine and rest is history
Bet those NFT pictures of gold bullion are worth a motza right about now! 🥸
Save the Koalas!
https://www.dailymail.co.uk/news/article-10933441/Greens-leader-Adam-Bandt-refuses-stand-photo-Australian-flag-Union-Jack-Aboriginal.html
When is Mr Bandt going back to the slums of Europe
then ?
“The Greens say the national flag represents colonisation and dispossession”
Bob Brown is but a vague memory.
This Bob Brown ?
https://www.theage.com.au/opinion/kangaroo-bounds-into-early-lead-to-wave-the-flag-for-australia-20150815-gizwrh.html
The current aus flag is for roylaists peasants. A new flag for the republic is required but until we decide on that, any self-respecting Australian should insist on the Southern Cross flag or no flag at all!!!!
Agree a new flag is in order but currently our Australian flag has the Union Jack on it.
Adam Bant is a virtue signaling cnt who can get fked.
Same goes for all the fellow traitors that voted for him.
Making spring rolls out of commercial kitchen scraps and discounted, almost spoiled, pork mince. Gnna enjoy charging obscene dollars for these to yuppies.
I thought yuppies are vegans!
Pork Mince = Tofu, they can’t tell the difference
Hey phanny I thought you just had elections, why are there more elections?
That one was presidential election, this one parliament election.
There comes a time in a boy’s life when he has murtipre elections in one day ….
https://www-bmwk-de.translate.goog/Redaktion/DE/Pressemitteilungen/2022/06/20220619-habeck-wir-starken-die-vorsorge-weiter.html?_x_tr_sl=de&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp
Grabbing random peoples name out of the phone book and getting them to run the country for a few years seems like the way to go
It can’t be worse than current system that tends to favor psychos
https://www.9news.com.au/world/el-salvador-president-patience-87-million-dollar-loss-bitcoin-investment/c4d2fa2a-6f38-457c-ae6c-5bbfd5d18396
HODL!
Anyone coming across a bank run in China?
https://www.asiamarkets.com/chinese-banks-run/