Yesterday I found Trump’s opening salvos in his trade wars confusing. Applying 25% tariffs to Mexico and Canada for the same ostensible reason—fentanyl and illegal immigrants—made no sense given it only comes through Mexico. I theorised that the Canadian add-on was personal to Trump in light of Justin Trudeau’s poor relationship with him. Thinking it
Risk markets bounced back overnight despite the Chinese tariffs coming into effect as Wall Street rebounded alongside European bourses as the overbought USD was pushed back by all the undollars. The latest economic news from the US and solid earnings reports overshadowed the Trump Trade War with the Federal Reserve still expected to cut once
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China today is not the China of the pre-COVID age, but many commentators think it is still an economy based on cheap manufacturing.
Western commentators still unable to see the advances in China By Daryl Guppy
Hard-right lobby group Advance Australia has amassed a $14m warchest to target Greens and Teals at the Federal Election. Michael West reports.
Didn’t get the usual New Year’s rush at the gym this year. Perhaps people have wised up and just gone straight from the Christmas/NY seasonal binge to the early February revenge binge without passing through the gym for an expensive and ultimately pointless detour in January.
DXY reversed. AUD is printing multiple hammer candles. CNY reopens today after the LNY break. Gold is massively overbought. Dirt having another crack. Miners meh. EM meh. Junk meh. Yields meh. Stocks only go up. If the last few days are an example of Trump tariff objectives, then what has the market to be afraid
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Australians have suffered their longest recession in modern history, with real per capita GDP declining for seven consecutive quarters as of Q3 2024. This decline in per capita GDP has been driven by the household sector, where consumption fell for six of the past seven quarters. This week, the Australian Bureau of Statistics (ABS) has
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As Trump gets outmaneuvered by both Canada and Mexico, a new front in the trade war opened up against Chyna today which retaliated immediately in kind. Currency markets have reverted almost back to their pre-North American trade war starting points while gold continues to hold at record highs. Meanwhile the latest local consumer confidence figures
The post Macro Afternoon appeared first on MacroBusiness.
Been catching up on my media consumption thanks to my lack of news media consumption these last few months. By coincidence I finished off a couple of a TV show (The Agency) and an audiobook (The Ministry of Time) I’d been watching and listening to at the same time.
As trade negotiations played out, Trump welcomed billionaire media mogul Rupert Murdoch to the Oval Office as he signed an executive order to begin creating a US sovereign wealth fund. Trump praised the “legendary” Murdoch, as well as fellow billionaire Larry Ellison, who was also present for the announcement.
