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Articles from MacroBusiness

Macro Morning

March 26, 2024 - 09:00 -- Admin

Overnight saw another consolidation phase for risk markets, with US bond yields rising slightly while the USD pulled back but still held sway over the currency majors. Wall Street stumbled again while European stocks lack confidence. The Australian dollar remains under the pump but is holding on at the 65 cent level again. 10 year

Australian dollar bear stampede

March 26, 2024 - 06:31 -- Admin

DXY eased: AUD firmed: CNY too: Oil is a problem for the bulls: Metalzzzzzzzzzzzzzzzz: Minerzzzzzzzzzzzzzzz: EMzzzzzzzzzz: Junk is breakout bullish: Yields followed oil: Stockzzzzzzzzzzzzz: The Aussie dollar has so many bears in situ that it will be difficult for it to fall much at all from here: Credit Agricole: The AUD remains the largest short

Iron ore has its Wylie E. Coyote moment

March 26, 2024 - 06:30 -- Admin

Goldman reports from on the ground in China. We recently hosted our 1H24 China commodity trip. The feedback suggested very weak activity on the ground as of mid-March, with construction presenting the most negative picture. Incremental improvement from the announced supportive policy measures as of date could be limited based on the discussions. On the

Australia’s population Ponzi scheme hits tipping point

March 26, 2024 - 00:05 -- Admin

Australia’s population Ponzi economy has hit peak stupidity, with BuildSkills Australia estimating that Australia requires an additional 90,000 construction workers to meet the Albanese government’s target of building an average of 60,000 homes per quarter for five consecutive years. Master Builders Australia CEO Denita Wawn has demanded changes to Australia’s migration system to rapidly increase the

Macro Afternoon

March 25, 2024 - 16:30 -- Admin

An uneasy first trading session for Asian share markets after a volatile week with Friday’s night poor showing on Wall Street and the still high USD continuing to weigh on risk sentiment. The Australian dollar has remained depressed just above the 65 handle. Oil prices are pausing their recent breakout as Brent crude remains well

Which Reserve Bank will blink first?

March 25, 2024 - 14:00 -- Admin

Justin Fabo from Antipodean Macro published the below chart showing market interest rate pricing for Australia and New Zealand: As you can see, both central banks are tipped by markets to lower interest rate this year. However, the Reserve Bank of New Zealand (RBNZ) is tipped to commence its easing cycle later than the Reserve

“Tiny” Tim Wilson mounts house price rocket to power

March 25, 2024 - 13:30 -- Admin

At MB, we love “tiny” Tim Wilson. His years as a libertarian politician feasting at the pubic tete, IPA attack dog, climate change sceptic and wind power champion, gay marriage campaigner and human rights wrecker, far-right culture warrior and “modern Liberal” have so come to epitomise the narcissism of political failure that following his career

Policy failure is wrecking living standards

March 25, 2024 - 13:00 -- Admin

On Friday evening, I was interviewed by Sky News’ Erin Molan, where I provided a simple solution to Australia’s immigration policy quagmire, which has seen our state budgets and major cities crush-loaded by too much immigration. The discussion followed both NSW Premier Chris Minns and Opposition leader Mark Speakman pushing back against the federal government’s

Planet Earth not big enough to fit Rudd and Trump

March 25, 2024 - 12:40 -- Admin

This is ridiculous: Before he replaced Arthur Sinodinos as Australia’s ambassador to the US in March last year, former prime minister Kevin Rudd was openly hostile toward Donald Trump. He variously branded the former president as “the most destructive president in history”, “nuts”, guilty of “rancid treachery”, “mercurial” and “episodically hard-line”. But now Rudd is

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