The Market Ear with key technicals. SPX – massive levels approaching SPX is dipping below the 100 day moving average as of writing. 5400 is the big level to watch. Note the trend line, as well as previous highs/lows coming in at this level. 200 day is down at 5270. Refinitiv NASDAQ – 200 day
In a deep warning for bulls, SHFE could not build on the rally. SGX faded overnight: So did Mad Dalaian: And coking coal: Why? This: Vale SA said it will produce more iron ore this year than previously expected, even with prices trading near two-year lows as China’s steel slowdown weighs on the global market. The
Historian James Curran is a long-term China fanboi: Once more Trump talked of alliances in terms of deals done and transactions made, of partners paying their dues. Once more he revealed his weakness for the benediction of autocrats, in this case Hungary’s strongman Victor Orbán. And in a worrying prediction of the kind of diplomatic
Last night’s all-important US CPI print came in somewhat mixed with the core inflation reading slightly higher than expected. Wall Street continued with its rebound, again led strongly by tech stocks while European markets were at best mixed. The USD firmed in the wake of the inflation print with Euro sliding back to the 1.10
DXY is back for now: AUD is struggling to regain momentum: JPY is on the march: Oil is dead cat bouncing: Metals took the hint: Miners too: EM is so yesterday: Junk is stalled but fine: The curve flattened: Stocks are about as convincing as Jim Chalmers: US inflation came in stronger than expected but
Recall that Labor’s first federal budget in October 2022 projected net overseas migration (NOM) of 470,000 over its first two years (FY 23 and 24): Instead, Labor delivered around one million NOM, more than double its projection: Labor MP Andrew Charlton recently stated that the government was in the process of “halving” net migration: “We’re
The issue of housing affordability was discussed at The Australian Financial Review Property Summit on Monday. The current nationwide median dwelling price is $790,000, but Eliza Owen from CoreLogic says a home would need to be priced around $500,000 to be affordable for someone on the median income. Owen told the summit that the pool
Data released by the Australian Bureau of Statistics (ABS) shows that the total value of homes nationwide rose to nearly $11 trillion in the June quarter, up $226 billion over the quarter: The average home value across the nation is now more than $970,000: If you have ever wondered why Australians are so “wealthy”, the
Asian share markets didn’t reflect the somewhat positive mood on Wall Street overnight as bond market volatility overshadowed, as all eyes look to tonight’s US CPI print. The USD remains very strong against all the majors except Yen, which had another sharp appreciation this afternoon, hurting Japanese stocks while the Australian dollar continues its inability
By Gareth Aird, head of Australian economics at CBA: Key Points: Real consumer spending contracted in Q2 24 to be just 0.5% higher through the year (comfortably below the RBA’s forecast of 1.1%/yr). Real consumer spending per capita has fallen over the past eighteen months, primarily driven by a decline in discretionary spending. Private surveys