See the latest Australian dollar analysis here:
Share markets are bouncing back across Asia in anticipation of a positive return on Wall Street tonight as it comes back from a long weekend. Crypto is even recovering from its crash over the weekend, with Bitcoin bouncing back above the $21K level, while the USD is solidifying against most of the undollars, with the Australian dollar still unable to get back above the 70 cent level. Oil prices are drifting sideways, with Brent crude just above the $114USD per barrel level while gold is down a handful of dollars as it struggles at the $1834USD per ounce level:
Mainland Chinese share markets are mixed with the Shanghai Composite slipping going into the close at 3307 points while the Hang Seng Index has gained more than 1%, currently at 21395 points going into close. Japanese stock markets have finally bounced back with the Nikkei 225 index closing more than 1.8% higher at 26246 points while the USDJPY pair continues to stabilise from its Friday night bounce back to be just above the 135 handle:
Australian stocks finally put in a solid lift, with the ASX200 finishing more than 1.4% higher at 6523 points. The Australian dollar has gone nowhere since its overnight small slip back to mid 69 level as four hourly momentum flips into the negative zone:
Eurostoxx and Wall Street futures are slowly drifting up going into the European open, with the S&P500 four hourly futures chart showing rice action still anchored here at the 3700 point level as the May lows (lower horizontal black line) turn into firm resistance:
The economic calendar includes a lot of ECB speeches then US existing home sales.
- Macro Afternoon - June 24, 2022
- Macro Morning - June 24, 2022
- Macro Afternoon - June 23, 2022
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Macro Afternoon
Some solid gains to finish the week on Asian
Macro Morning
More overnight volatility on equity markets
Australian dollar shoved to PMI cliff
DXY was firm overnight: AUD is right at
Macro Afternoon
Share markets are once again bouncing back across
Straw poll:
Duck vs chicken
I think Chicken, They are stronger and more persistent in a fight than ducks
But I don’t condone animal fight
Duck vs Chicken should be banned
Rooster will fight an emu if his ladies are under threat.
Agree, cocks can be very aggressive
But can he run the pants off a kangaroo?
Only if he buys her dinner first
Whichever one/s you can get communicated consent from (first).
Sigh, you’re all a bunch of misfits!!!
I meant for eating, thought it’d be obvious lol
So you meant Coq au vin vs Duck a l’orange, Do I get a glass of Volnay premier cru?
Simply re-advertise the position and discard the previously short-listed applicants:
https://www.abc.net.au/news/2022-06-21/emails-john-barliaro-us-trade-commissioner-job-shortlisted/101169838
Disgusting. Is there no end to dodginess around that man.
The gift that keeps gifting himself.
World’s most boring Foundation has a meltdown about something or other that no-one cares about:
https://www.smh.com.au/business/companies/leaked-emails-reveal-fears-of-destructive-spiral-at-judith-neilson-institute-20220621-p5avcu.html
Indeed, never heard of them and was a bit surprised DLS posted about it yesterday
He must be eyeing some $$$
Why does it have to be about money …
Without money there would be no communism, left or right wings or even this website….
As your great grandfather, Skippy The First mentioned “trace the money”
Sorry TTP but humans are not compelled by money alone unless you drank from the Homo economicus cup.
It now costs 180-190 a square meter per annum to lease a warehouse in outer Sydney
Manufacturing is fcked
Inflation is out of control right now
The rate almost doubled!!
Debt weighing …
Not to mention the enormous power bills
But cafe owners on Sky and 7.30 say it’s all about minimum wage.
And too many viewers lap it up before repeating it out in the wild.
I actually know that bloke. I used to live in Five Dock. Lovely guy, but I think he said it was a combination of factors and raising wages was the last straw since he felt he couldn’t pass on the costs to customers who he felt wouldn’t pay more for food.
Sky News however focused on the wage increase.
Inflation is out of control right now but don’t worry, it’s only Transitory.
There, fixed it for you so that it fits with the MB talking points.
What part about a global trade shock is hard to understand in a JIT driven consumerist credit reality for some Burns ….
PS. how did that lower consumer prices thingy work out with spaghettizing high risk credit to pump demand and then bundle it all up and sell it as an income stream to absentee investors globally …
PSS … all just to deny wage slaves a traditional share of productivity …
Burns……..Now look what you have done!
But I only said “Beetlejuice” once !
Do either of you have brain cells – ???? – or does juvenile antics have a better social scoring point card in your minds dim as they might be …
This what happens when you go full attack mode all the time. People stop engaging at all and just take the mickey out of you.
You either have to balance the lambasting rants with some light hearted banter or give up on calling out the juvenile responses endless lambasting produces.
Just stop it … in context of the years I’ve spent on MB this is weak tea … not to mention what has popped out of some mouths during it and never blinked when information refuted it. Pft makes Milton et al look like those without sin and so ideologically rusted on it makes happy clappy Scomo look like a middling Intellectual cutting their teeth.
Economics is neither a Religion or a Royal Science because when you point either at humanity in ignorance and when it implodes the force from whatever is dominate is not kind to us or our environment – no matter what you call it …
It will be transitionary because all those warehouses are going to close. $200 a square metre is insanely expensive for a warehouse in the middle of nowhere.
Yes it is, with out goings it’s 430 grand a year for a 2000sqm shed, just enough for some robot welders, press machines and packing and dispatch, it’s over for manufacturing when coupled with power bills
Yes Burns, been calling out their pig in the python bs for a year or more now
It’s so weird that this is the proverbial ideological hill that they are choosing to die on.
The second from last guest on Macrovoices – which I know Damien listens to (and Leith really should listen to) said it really succinctly 2 weeks ago
If globalization was a key driver for 20 years of global deflation, then de-globalization (as a result of COVID and the new geopolitical world order unwinding global supply chains) must drive global inflation
Cheap wage offsets from globalization [the productivity is mine] meet environmental conditions, market share wars, resulting in dislocations in contracts and what they are price in, suggests a lot of contracts are going to be impaired …. at least … and worst 52 card pick up …
Then some wank on about monetary policy IR and where one stores the loot from extraction of weaker bargaining powers whilst playing the stonk markets and their individual life expectations … chortle … full cuticle totalitarianism by dint of political bargaining power …
It has to,
he bought it for double from 5 yrs ago.
Seems the EU has tired of the losing Ukraine situtation and wants to start some more crap with Russia.
https://www.zerohedge.com/geopolitical/eu-just-implemented-risky-anti-russia-measure-could-trigger-ww3-few-are-taking-notice
War is great I guess when you or your family don’t have to fight and you don’t have to worry about the effects of sanctions.
https://medium.com/zen-and-the-art-of-crypto/why-are-there-so-many-bitcoin-haters-out-there-501530c9d6fd
You pay an average of 65% tax, on top of that you pay a hidden tax called inflation and it is already 20%+ if you look at the real prices of food, energy, and the rest. You rescue banks when they fcuk up, work all your life for a meager pension you are unlike to receive and have become a slave to a system that is designed to exploit you.
You sound like @Mathias
Lol, I do. But it’s a quote from the article.
FFS wages and productivity diverged in the 70s and your banging on about inflation due to trade shock and other factors … do you have a Larry Summers oil painting above your bed at home …
An average of 65% tax ?
Please show your working.
Confusing price inflation to support c-suite bonuses and one off profit is hard for some … confused with money devaluation of unwashed PPP.
Someone please inform Gav he is part of the unwashed mopes …. a house and a bit of money did not get him a place at the table …
Lol, I knew you’d bite. I’m under no illusion that I’m just another sh1t kicker.
Gav … its like the old saw of what you did in your 20s you cop in your 30s and 30s in your 40s et al. So everything your looking at regardless of ideological framework is the results of 10 or more years ago. Hence wobbling on about theft in money terms today after making packet on wage arb through the stonkmarket before is a little silly.
So the big issue here is where were you at with things 10/20 years ago and how does that square with where you are today. Personally I seen just on this blog alone back in the day commenters promoting exported market totalitarianism in the guise of promoting free markets and democracy with zeal on developing economies e.g. debt traps, loot natural capital, force political outcomes that facilitate these agendas, etc. Yet now the chickens have come home to roost and everyone is having a melt down – ????
PS. Jackpot is here … its just not evenly distributed …
The HK landmark conveniently sank in a place that insurance investigators cannot reach, 1000 metre under the sea.
https://www.bbc.com/news/world-asia-china-61875061
Even if insurance denies their claim, it’s still a net positive for the company because maintenance cost far, far exceed what it is worth.
Wonder if the whales are locked down too?
https://www.abc.net.au/news/2022-06-21/hundreds-sealed-in-macau-casino-amid-lockdown/101172066
No
https://www.abc.net.au/news/science/2022-06-20/winter-whale-watching-citizen-science-australia/101128580
Do they need any binking?
International binking!
https://www.youtube.com/watch?v=TLWp86XR9-0
What have you just done to my FN algorithm.
You’ve been at the other place!
I crossed into the shadows! Lol your question to that guy to fund a goat was hilarious 😂 😃 😄
Syntax was very similar to a commenter in the Yasmine story…….
Not familiar with Yasmin or her story 🤔
Is Google my friend or its an inside story?
If you scroll down about 26 posts on the front page you’ll find it.
^^ hilarious, good catch!!
Your ability to note things then bring them back after many weeks is astonishing
A cutting analysis of Australia’s disgraceful and corrupt media’s behavior in, and following, the recent election.
https://meanjin.com.au/blog/scott-free-but-still-in-chains/
Media have reverted back to the good old days when it represents the view of its owner. What gave media its ‘independence’ was advertising revenue stream, which has all been taken by Google and Facebook.
What a uniquely interesting take. Almost the opposite of universities with international students. The extra revenue stream kept these lot balanced,that tipped the universities over the edge.
Huh, good point.
Does that make FB and GOOG independent?
https://twitter.com/RAF_Luton
Has a poll running on the greatest British fighters if you’re interested.
Henry Cooper.
Chinese Developer Accepts Wheat, Garlic as Payment to Woo Buyers … Bloomberg
https://www.bloomberg.com/news/articles/2022-06-21/chinese-developer-accepts-wheat-garlic-as-payment-to-woo-buyers
As China’s property slump persists, one developer is trying to entice farmers to buy homes by accepting their crops as payment.
Central China Real Estate Ltd. is offering to pay farmers as much as 160,000 yuan ($24,000) for their wheat to offset down payments for homes in its River Mansion residential project in Shangqiu, a city in Henan province, according to a Monday marketing post. Weeks ago, it offered to accept garlic from growers looking to buy homes in another project in Kaifeng city.
The move reflects how far some developers are willing to go to attract wary homebuyers as the economy slows and the industry endures a crippling cash crunch. Central China, the country’s 37th-largest builder, recently sought state support when its parent company agreed to sell a stake to the provincial government. … read more via hyperlink above …
United States …
Used-Truck Auction-Prices Plunge As Freight Market Cools … FreightWaves / Zerohedge
https://www.zerohedge.com/markets/used-truck-auction-prices-plunge-freight-market-cools
By Alan Adler of FreightWaves,
Auction prices of used trucks are falling almost as quickly as they rose over the last year. That is leaving owner-operators stuck with overpriced equipment they thought they could pay for in a hot spot freight market that is cooling off.
“The market is primarily absorbing trucks from fleets no longer retaining all of their older iron as new trucks trickle in and, to an extent, from owner-operators leaving the industry or going to work for a fleet,” said Chris Visser, senior analyst and commercial vehicles product manager for J.D. Power Valuation Services. … read more via hyperlink above …