Chris Becker

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Where to for Gold?

Time for another update, with the latest surge above $1600 USD per ounce last night. As I mentioned briefly in my last update, where to for gold? First a quick recap – here is the current price activity within the context of a major, long term bull market. And here we are today (using daily

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Trading Day: 18th July

The S&P/ASX 200 fell over 20 points on the open, reaching the low experience in late June, before rebounding and is now steady just after midday to 4475 points. Other Asian markets are up, with the Nikkei 225 up 0.39% at 9974 points, and the Hang Seng up 0.54% at 21,993 points. Other risk assets

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Chart of the Week

From Avid Chartist, is a great comparison of the broad US share market index, the S&P500 and the Aussie 200 – the S&P/ASX200, but both priced in USD. As I remarked about diversification recently, it’s not much chop if correlation across risk markets is 1.0. As an Aussie, I have been a little disheartened that

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Next week: US earnings and RBA

With the full weight of the Labor Government carbon price (tax/permit/whatever) policy announced, ructions in Italy and Greece and the US dithering over a paltry trillion bucks or so, what’s coming up next week in terms of data, announcements and the like? (Black Swans aside…) Locally, everyone will be dissecting the RBA’s Board minutes on

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Trading Day: 15th July

The S&P/ASX 200 fell again on the open and has stabilised, now 0.38% or 17 points lower just after midday to 4473 points. Other Asian markets are mixed, with the Nikkei 225 up 0.25% at 9960 points, and the Hang Seng down 0.37% at 21,858 points. Other risk assets are also mixed, with the AUD

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Trading Day: 14th July

The S&P/ASX 200 fell slightly on the open, after digesting QE-easiness from overnight markets. The market has fallen further and is now 0.57% or 25 points lower just after midday to 4489 points. Other Asian markets are also down slightly, with the Nikkei 225 down 0.37% at 9926 points, and the Hang Seng down 0.22%

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Trading Day: 13th July

The S&P/ASX 200 jumped slightly on the open, after digesting a poor performance of overnight equity markets. The market is now .47% or 21 points higher just after midday to 4516 points. Other Asian markets have also up slightly, with the Nikkei 225 steady at 9926 points, and the Hang Seng up 1% at 21,882

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The rampaging golden bull

With gold almost rising to a new all time high in USD per ounce (Europeans get that tag for today) it’s time for another close look at the shiny metal. This will be a technical and chart heavy look at gold from a fractal viewpoint – i.e from the very long term (secular), then long

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Trading Day: the sell off continues

The S&P/ASX 200 slumped again on the open, from the very poor performance of overnight equity markets. The market is now 1.7% or 77 points lower just after midday to 4505 points. Other Asian markets have similar losses, with the Nikkei 225 down 1.5% at 9914 points, and the Hang Seng down 1.75% at 21,957

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Trading Day: 11th July

The S&P/ASX 200 slumped on the open, digesting the very poor US unemployment numbers on Friday, and the carbon pricing announcement yesterday. The market is now 1.3% or 60 points lower just after midday. Other Asian markets have smaller losses, with the Nikkei 225 down 0.5% at 10089 points, and the Hang Seng up down

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Renewable hotties

With the announcement of a Carbon Pricing policy by the Government recently, combined with the formation of ARENA, a $3.2 billion agency to consolidate renewable energy industry support and given that the purpose of MacroBusiness is to give you the bigger picture, here is a (non-exhaustive) list and short summaries of renewable energy companies that

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Trading Day: 8th July

The S&P/ASX 200 opened higher and has built on these gains from very positive leads from US overnight, and now after midday is up 47 points or 1% to 4652 points. Other Asian markets have similar gains, with the Nikkei 225 up 1% at 10170 points, and the Hang Seng up 1.17% at 22,794 points.

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Next week’s data – Housing finance to dominate

With the first week of the new financial year over, we stumble into a new round of announcements and data releases to digest, analyse and consider and move towards the next corporate earnings season. The big kahuna for next week will be the Labor Government/Green Party announcement on a carbon price policy on Sunday. Here’s

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Links July 8: US jobs figures up (updated)

Market Update: IGMarkets Up: Risk basically – Dow, NASDAQ, Gold, Oil, Euro stocks, CRB Index, AUD Down: Bonds, USD Sovereign contagion: Ireland, Portugal, Spain, Italy, Belgium, Greece US companies add 157,000 workers: Bloomberg But US confidence declines: Bloomberg And a better look behind the numbers: Mish and Dshort.com Gold stocks better than gold? Reuters Not

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Charting the RBA

The RBA has released its monthly Chart Pack and like last month’s release, I’m going to have a look at this impressive data set for MacroBusiness readers. A warning, its chart heavy (obviously). The Chart Pack is divided into 16 categories, but let’s concentrate on a few, looking first at the economic “god” of GDP

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Trading Day – 7th July

The S&P/ASX 200 opened lower and remained low until the ABS unemployment figures were released at 11.30, and now after midday is up slightly, 2 points or 0.05% to 4607 points. Other Asian markets are mixed, with the Nikkei 225 losing 0.1% at 10072 points, and the Hang Seng up 0.4% at 22,599 points. Other

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Unemployment steady at 4.9%

The ABS has just released the monthly Labour Force Survey results for June. From the media release: The ABS reported the number of people employed increased by 23,400 to 11,455,200 in June. The increase in employment was driven by an increase in full-time employment, which was up by 59,000 people, three quarters of whom were

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Trading Day 6th July

The S&P/ASX 200 opened slightly lower and has remained steady throughout the trading day and is right on 4600 points just after midday after weak leads from Europe and the US overnight. Other Asian markets are also mixed, with the Nikkei 225 up 0.15% at 9988 points, and the Hang Seng down 0.4% at 22,656

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Charting 101

My day job as a trader is to evaluate charts as the visual representation in the change in prices, or as my investing partner call’s it, “tea leaf” reading. Charting is just measurement of past prices, not a prediction of future results (I leave that to the economists) and I’ve seen many charts used by

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Arrivals and Departures for May

The ABS has released the May Overseas Arrivals and Departures data, which comprises a summary of monthly data by category of movement. For visitors arriving and residents departing short term, the intended length of stay, main purpose of journey, principal destination (departures) or country of usual residence (arrivals) and state and territory in which most

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Engineering activity up 3.8% in March quarter

The ABS has released the Engineering Construction Activity data for the March quarter, which contains value of engineering construction work done, commenced and yet to be done, classified by state or territory, commodity (roads, bridges, pipelines etc), sector (public/private) undertaking the work, and sector for whom the work is being done. VALUE OF WORK DONE,

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Trade surplus, Vehicle sales down

Two more data sets released today: First, June motor vehicle sales data released by the Federal Chamber of Automotive Industries (FCAI) show a fall of 11.6% than the prior corresponding period (i.e June last year), although this has been put down to supply constraints from the Japanese earthquake. A highlight was an increase in locally

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RBA leaves rates on hold

The Reserve Bank of Australia (RBA) left the cash rate target on hold at 4.75% The last rate rise was in November 2010. Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to leave the cash rate unchanged at 4.75 per cent. The global economy is continuing its expansion,

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Trading Day: 5th July

The S&P/ASX 200 rose about 15 points on the open, but has retraced after waiting for the RBA Board decision on rates at 2.30pm AEST. It is currently 5 points or 0.12% down just after midday, at 4605 points. Other Asian markets are also mixed, with no leads to follow from Wall Street due to

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Trading Day: 4th July

The S&P/ASX 200 jumped almost 1% on the open, but has retraced after absorbing bad retail and building figures. It is currently 33 points or 0.7% up just after midday, now at 4624 points. Other Asian markets are up following the strong lead from Wall Street on Friday, with the Nikkei 225 up 1.05% at

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Building Approvals fall 1.2% for May

The ABS has released its May data for the number and value of dwelling units approved by sector (public/private) and by state, number and value of new other residential dwelling units approved by type of building, and the number and value of non-residential building jobs approved by type of building and value ranges. TOTAL DWELLING

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Retail Trade for May falls 0.6%

The ABS have released its latest monthly estimates of turnover for retail establishments. The trend estimate rose 0.3% in May 2011. This follows a rise of 0.3% in April 2011 and a rise of 0.3% in March 2011. The seasonally adjusted estimate fell 0.6% in May 2011. This follows a rise of 1.2% in April

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A busy week for data

The first week of the new financial year brings about a heavy load of data to digest, analyse and consider. With Houses and Holes still recovering, the folks at MacroBusiness will endeavour to cover this barrage of local and international data as much as we can. Here’s the tentative list for this week: From the

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Weekly Market Analysis

Summary The S&P/ASX200 finished the week 83 points higher, up 1.84 per cent to close at 4,591 points on Friday. After one of the biggest one-day moves of the year, the market experienced a slight sell off on Friday to finish just below the 4600 points level. Monthly Analysis The market is almost replicating the

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Trading Day: 1st July

The S&P/ASX 200 was slated to make further gains today, but has moved down almost 24 points or just over half of one percent just after midday, now at 4584 points. This is possibly due to the weak Chinese PMI figures (forecast at an expanding 52, came in at 50.2) and the equally important Japanese