Macro Afternoon

See the latest Australian dollar analysis here:

Macro Afternoon

Some very solid gains to start the new trading week on Asian share markets with risk sentiment firming following some big moves on Friday night on Wall Street. The USD remains strong against most of the undollars, with the Australian dollar trying to push a little higher but still thwarted by the interest rate differential problem. Oil prices are trying to stabilise after their falls on Friday night with Brent crude still below the $110USD per barrel level while gold has gapped higher in today’s session after being depressed at the $1820USD per ounce level, now at $1840:

Mainland Chinese share markets are again pusher higher into the close with the Shanghai Composite up more than 0.8% to 3378 points while the Hang Seng Index has lifted more than 2%, currently at 22184 points. Japanese stock markets are also doing well, with the Nikkei 225 index about to close more than 1.3% higher at 26848 points while the USDJPY pair is remaining fairly depressed, hovering at its Friday session lows just below the 135 handle:

Australian stocks are putting in some very solid gains with the ASX200 about to finish more than 2% higher, currently at 6710 points. The Australian dollar is still trying to find a bottom here, having been depressed below the 70 cent level against USD all last week, it struggling to move higher due to Governor Lowe’s comments of modest rises over the weekend:

Eurostoxx and Wall Street futures are pushing higher going into the European open, currently up 0.5% or so with the S&P500 four hourly futures chart showing price action bursting above the 3800 point level that had acted as firm resistance, with a bullish inverse head and shoulders pattern now complete:

The economic calendar opens up the new trading week with US durable goods orders for May, and a couple of speeches from ECB bankers to watch out for.

Latest posts by Chris Becker (see all)

Comments

    • The Travelling PhantomMEMBER

      His contract finishes in Oct, serving 10 years 2 terms I think….so he’s leaving regardless I think.
      Hopefully they’ll not appoint Joshy as he’s looking for work…..

  1. haroldusMEMBER

    Also I can’t remember if I told youse guys about this (have been telling the other 2 people I know so I get confused).

    https://www.2rph.org.au/

    This is really good at all times, but better at news times, as they read a selection of articles from for example the herald, strayan, afr, plus the economist and lots of other sh!t.

    So, it’s good when you are driving, sort of like audiobooks but for news.

    • I have a nerdy engineer friend who used to (in the early 2000s) listed to the broadcast reading of major daily newspaper articles on radio for the blind on the morning drive commute…. “how good is this! Someone reads select newspaper articles to you!”

  2. haroldusMEMBER

    Just back from shower in the amenities block at the marina. I forgot to bring a towel so had to use a sleeping bag liner which is so long that an end dipped on the floor as I was wiping down.
    I guess I have to kill it with fire.
    OTOH am feeling quite clean at the moment.

  3. ErmingtonPlumbingMEMBER

    Had to go and bail the wife outa a hole she drove into tonight. Bloody council have built all these on road planter boxes, just up the road from Ryde-Eastwood leagues club, only a curb high but with a 4-500mm drop off for soil, chip bark and a planting.
    Not filled in and with No barricade the wife drove in and got stuck so me mate Johnny and I had to jack up the car on a roller jack and push it out.
    Some sheilas from a near by shop said my wife was the 3rd person today to do the same.
    Shoulda seen the gouges outa the concrete!
    I had to shout me mate 4 beers at the near by club for helping me out.

  4. cZ0mzqFILC8zoVHq

    https://www.abc.net.au/news/2022-06-27/redland-mayor-karen-williams-crash-judy-lindsay/101185712
    Intoxicated Redland mayor Karen Williams crashed car one hour after meeting with drink driving victims, rejects advocates’ call to resign
    “The mayor recently led a parliamentary petition urging a longer sentence for an 18-year-old man convicted of manslaughter over the 2021 deaths of Matthew Field and Kate Leadbetter.”

    . . . AINSWORTH: Yes. Well, the thing is, Sergeant, I’ve got a bit of a problem here. One of the officers has lost a leg.
    SERGEANT: Oh, no, sir!
    AINSWORTH: I’m afraid so. Probably a tiger.
    SERGEANT: In Africa?
    AINSWORTH: Stumm.
    PAKENHAM-WALSH: [mumble]
    AINSWORTH: Stumm. Stumm. Stumm. The M.O. says we can stitch it back on if we can find it immediately.
    SERGEANT: Right, sir! I’ll organise a party… right away, sir.
    AINSWORTH: Well, it’s hardly the time for that, is it Sergeant?
    SERGEANT: Look. A– a search party.
    AINSWORTH: Oh! Oh! Ah! Ahh! Much better idea! Mhmm. . .