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Asian stock markets are generally lower given the tensions on the Korean peninsula while the Australian dollar fell sharply on the release of the weaker than expected national account figures. Other undollars are doing poorly against USD with Yen reverting while Euro is still dicing with the 1.05 handle again. Oil futures are trying to

The post Macro Afternoon appeared first on MacroBusiness.

Spanish energy giant Naturgy raises $2.3 billion to expand Australian portfolio as it commissions its latest wind project.

Wages have been pancaked for six months in the national accounts. Westpac. Cost pressures continue to moderate as the impact of the larger than average 2022-23 minimum and award wage increase roll out of annual calculations. Average (non-farm) earnings per hour moderated to 3.2%yr, from 6.5%yr in the June quarter. Not only was there a step

The post The RBA must cut urgently appeared first on MacroBusiness.

The East Coast gas cartel is eating vulnerable Australians alive. A record number of people are struggling to pay their energy bills, the Australian Energy Regulator has said in a report that highlights the toll of Australia’s cost of living crisis that is sapping support for the federal Labor government. The AER said 1.9 per

The post Aussie energy destroyed as media monkeys throw poop appeared first on MacroBusiness.

Chinese realtors are feeling less sick. Homebuyers not so much. Leading indicators are weakening. Salesa are OK. Inventory is improving, Completions are still very high. This has a long way to fall. Deutsche reckons a muddle through from here. Sounds about right.

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You can’t keep a good Pavlovian dog down. Iron ore is close to the limit it can reach in its jaws with steel. The steel price can’t climb because it is only being held aloft by exports, which will die if it rises in price. Underlying dynamics are quite soft if the steel PMI is

The post Iron ore blasts off into the void appeared first on MacroBusiness.

New Equifax data shows that 32% of Australians now use Buy Now Pay Later (BNPL) or credit cards for everyday essentials—up from 23% in 2022. There has also been a 205% annual increase in hospitality sector insolvencies driven by rising costs and lower consumer demand amid the cost-of-living crisis. Equifax’s Executive General Manager, Moses Samaha,

The post Hospitality industry the biggest recession casualty appeared first on MacroBusiness.

DXY is back to chopping wood. AUD looks defeated at the cliff’s edge. As CNY warms into its task. Oil should be lower. Gold too. The entire Crap Complex—EM, dirt, miners and junk—is blah. Curve steepening returned as US job openings were strong. Stocks always go up. Another major bank has forecast a crash in

The post Major bank: Australian dollar to crash appeared first on MacroBusiness.

Australians have experienced the sharpest fall in material living standards on record, with real household disposable incomes falling by around 8% over the two years to Q2 2024. David Speers interviewed Prime Minister Anthony Albanese on ABC Insiders over the weekend, asking him to explain why the OECD reports that Australia’s real per capita household

The post Albanese waffles as living standards collapse appeared first on MacroBusiness.

Buying fatigue is setting in on Wall Street while another record high from the German DAX pushed European stocks higher amid the French political  imbroglio. The USD is in flux mode after more Trumpian threatening language as Euro sits unsteadily at the 1.05 level while the Australian dollar remained under pressure as it still can’t get

The post Macro Morning appeared first on MacroBusiness.

Ukraine’s self-proclaimed “fight for independence” has ironically only led to deeper dependency on financial, military, and energy support from Western countries, raising concerns about the sustainability of this arrangement.

My People When you gonna leave My People Give them room to breathe My People Stop oppressing My People All they want is bread and clothes Space to rest – and left alone My People: When you gonna free My People? Let them live in peace Stop killing My People All they need is dignity…

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