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A lot of macro events and geopolitics hit risk markets today but was mostly absorbed outside of currencies as the USD hit a six week low on a combination of the burgeoning world wide trade war started by the Trump regime and the growing slowdown in the domestic US economy. The latest Chinese manufacturing figures

The post Macro Afternoon appeared first on MacroBusiness.

Plans to transform Tasmania's Bell Bay port into a world-leading renewable hydrogen production hub have had new life breathed into them.

The NSW and Victorian governments are urging the Albanese government to use its large election mandate to revamp the GST system. The then Turnbull government agreed in 2016 to what has been dubbed a ‘sweetheart deal’ with Western Australia, which is slated to cost taxpayers $60 billion over 11 years. This deal set a floor

The post Victoria cries poor after receiving $7.5b in extra GST appeared first on MacroBusiness.

South Australia enjoying "unprecedented" inquiries from industries looking to connect to world's most advance renewables grid - but bad planning holding it back.

Melbourne’s auction market has rebounded strongly, recording an average final auction clearance rate of 67% in May, the strongest result since mid-2023. As illustrated in the following chart, the bounce in Melbourne’s auction clearance rate has been accompanied by a corresponding rise in dwelling values, which increased by 0.8% in May, according to PropTrack. The

The post Bargain hunters target Melbourne housing appeared first on MacroBusiness.

Via ANZ. ANZ-Indeed Australian Job Ads fell 1.2% m/m in May, following a downwardly revised 0.3%m/m decline in April. In trend terms, the series was down 0.6% m/m. ANZ-Indeed Australian Job Ads is now at its lowest level since March 2021, but has remained in a tight range of 114 to 117 (rounded to the

The post Job ads still fading appeared first on MacroBusiness.

Main supplier to the most powerful battery built in Australia - and a crucial part of the replacement plan for the Eraring coal plant - was warned it may go out of business.

I have been bullish on gold for a year or more. The Market Ear sets us up. Decision time in gold Gold is back flirting with the short term negative trend line. The bounces on the 50 day and the long term trend were once again schoolbook examples of buying dips in strong trends. A

The post Not too late for gold? appeared first on MacroBusiness.

It’s bloody painful, but slowly iron ore is being ground down. The PMIs were no help at all. The NBS manufacturing PMI increased from 49.0 in April to 49.5 in May. The new export order sub-index, which dropped from 51.8 in March to 49.2 in April, climbed to 49.8 in May. But, the NBS construction

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DXY is breaking down again. AUD at the top of the range.   Lead boots no more. Gold poised for more. Oil bought the fact. Metals are eyeing DXY. Nothing can save big miners. EM meh. Junk is worried. Yields are up as DXY is down. Markets HATE Trump tariffs. Stocks eked out gains. The

The post Australian dollar hits ceiling as US economy hits wall appeared first on MacroBusiness.

I was reading the early reports of Ukraine’s drone strikes on Russian strategic bomber bases, wondering ‘where have I read this before/?’

And then I remembered.

I didn’t read it. I wrote it a couple of years ago. In Zero Day Code. Chapter 17.

Wind power has become a significant contributor to the electricity supply in Australia. As of September 2024, Australia had an installed wind capacity of around 13.3 GW. Wind power accounted for 13.4% (or 31.9 TWh) of Australia’s total electricity production in 2024. The Albanese government has set a target of producing 82% of Australia’s electricity

The post The fundamental problem with renewables appeared first on MacroBusiness.