The Market Ear with the absurdity of money. To the moon Bitcoin RSI at 88. We have not seen RSI this overbought AND bitcoin trading at these absolute levels, ever. Chasing it here looks like a very late trade. Refinitiv Leaving the 200 day moving average behind BTC is trading some 70% above the 200
PropTrack has released its dwelling value results for February, with values nationally rising by 0.45% over the month to be 6.15% higher year-on-year: Combined capital city values rose by 0.48% in February, whereas values rose by 0.36% across the combined regions. In the year to February, the combined capital cities recorded a 7.06% increase in
Honestly, they’re like Daleks, these official economists: A surge in employment combined with scant investment by firms to improve output triggered a sharp drop in worker productivity, limiting prospects for income growth without fanning inflation, the Productivity Commission said in its annual report. Across the economy, productivity fell 3.7% in 2022-23, as output growth failed
Lol: Australia and the Philippines will deepen maritime co-operation, including security for civilian shipping and surveillance, as President Ferdinand Marcos jnr warns his country is on the front line of Chinese efforts that threaten regional peace. In a forthright address to federal parliament, Mr Marcos repeated his vow the Philippines would not surrender a square
I assume this pantomime serves the purpose of creating an atmosphere of fear among existing pollies: A former politician labelled a traitor by ASIO director-general Mike Burgess is “no longer a security concern”, the spy chief declared as he refused to identify the person and a raft of ex-MPs demanded their names be cleared. As
The latest US core inflation print came in slightly lower than expected and combined with some dovish Fed comments gave Wall Street a leg up which should push the equity complex higher here in Asia to finish the trading week on a good note. The USD rose eventually amid some volatility around the print while
Rebar and SGX futures cannot catch a bid: Early next week is the “Two Sessions” in Beijing with markets expecting a 5%ish growth target. It will need to pack more punches than just that number to lift iron ore. Assuming a 2024 CPI and GDP deflator of a marginally improved -1%, 4% real growth with
CoreLogic reported that Australian rental growth re-accelerated in February, with the monthly rate of change rising to 0.9%, the highest reading since March last year. This re-acceleration also saw the rolling quarterly change in rents rise to 2.4%, the highest since May last year. As shown above, Perth leads rental growth across both houses and
Asian share markets are being impacted by domestic events with the BOJ broadcasting some dovish moves while local retail sales actually pushed the Australian dollar higher alongside local stocks, despite a lack of a positive lead from Wall Street overnight. Oil prices are trying to claw back recent losses but Brent crude is stalled just
Here’s the chart: BTC does not appear to have much of a relationship with gold, though it could be argued it is still in the market share phase of development so the relationship would not be symmetric. Recent ETFs will give that process, if it is such a thing, a boost. For those wanting me