The Swamp

last h was a 4h close.

gross

took a little profit at 0518. For liitle reason other than 0584 is that month R. I put a pending there. St still has the bearish close. 0516 did have a old close there..

not much in opex

good morning

wow

I wish Black Opal was here. He could tell you if overtime was cut out in mining. If it is, well those inventories may shrink some. I don't know when the drop in price will curtail mining. Having Black Opal here was an asset. It was like having inside info to help connect some dots. This in the one thing China cant lie about.

Those heavy equipment makers stock price is just more evidence. Add it to walmart, oil and copper and you gey a pretty good picture of the world. More is BDS

https://www.thenews.com.pk/print/392...to-6.2-percent

Australian unemplyment rate ticks up to 6.2 percent
SYDNEY: Australia´s unemployment rate edged up to 6.2 percent in April, official figures showed Thursday, in a widely expected increase reflecting the nation´s economic wobbles as it moves away from its dependence on mining.Some 2,900 positions were lost last month, according to the Australian Bureau of Statistics data. Full-time roles
By our correspondents
May 08, 2015
SYDNEY: Australia´s unemployment rate edged up to 6.2 percent in April, official figures showed Thursday, in a widely expected increase reflecting the nation´s economic wobbles as it moves away from its dependence on mining.
Some 2,900 positions were lost last month, according to the Australian Bureau of Statistics data. Full-time roles fell by 21,900 while 19,000 part-time jobs were added.
The seasonally adjusted April data matched analysts´ expectations, although economists had forecast 4,000 jobs to be added to the economy.
The Australian dollar slipped a quarter of a US cent to 79.25 US cents after the data release before rising to 79.70 US cents.
“It was largely as expected,” RBC Capital Markets economist Michael Turner told AFP.
“Unemployment´s still gyrating around 6.1 (percent) to 6.3... unemployment growth is still reasonably modest and barely enough to keep up with the population growth.”
The participation rate, which measures the proportion of adults in work or looking for work, remained at 64.8 percent on unrounded estimates.
The rise in the jobless rate from 6.1 percent in March came two days after the Reserve Bank of Australia slashed the cash rate by 25 basis points to a new record-low of 2.0 percent to stimulate economic growth.
The economy has struggled to fill the gap left by the end of an unprecedented boom in mining investment, which has helped it avoid a recession for more than two decades.
Slowing growth in China, Australia´s largest trading partner, as well as recent plunges in commodity prices have weighed on the resources-driven economy.
The rocky transition away from mining-led expansion and robust growth in the labour force has seen the unemployment rate slowly increase over the past year, last peaking at 6.3 percent in January — a more than 11-year high.
“We are seeing pretty strong jobs growth in areas related to residential construction and non-mining construction as well, but we do

need to see stronger jobs growth in areas like agriculture, manufacturing and the retail sector,” Commonwealth Bank of Australia economist Diana Mousina told AFP.
“At the same time, the jobs growth in the services areas like healthcare and education are quite strong, so I think that´s pretty positive but they are not creating enough jobs to offset the decline in mining jobs.
“So we just need to see additional jobs growth rather than just tracking at average.”
Reserve Bank governor Glenn Stevens said after the rate cut Tuesday that “available information suggests... stronger growth in employment”, but added that the economy was “likely to be operating with a degree of spare capacity for some time yet”. The central bank is set to release its quarterly monetary policy statement Friday, with some analysts expecting the RBA to slightly lower its gross domestic product forecast and continue to flag below-trend growth. In its February quarterly report, the bank projected GDP to expand 2.25-3.25 percent in 2015.

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Comments

BDI (indication of BDS) prices is forward looking. When new ATH were being set in the U.S. markets. Date wise this was last year, before the war and the latest Covid. One can see it hasn't recovered since the 2008 drop. Even as others have tripled plus. One has to ask. Was China, Japan like 40 years ago? A mule that "shit fast, wont shit long". What other conclusion can one offer with a straight face?

Gold at 1873 again

Gold: A retest of 1873 is in progress.

1873.57 has not done much.. Some local S at 1861.98. If it can start closing above 1873.57 it may bounce a little higher. Later if it closes above either of these it may bounce some. A possible short at R later.

Closing below 1873.57 is not bullish, closing below 1861.98 is not either.

Gold bit me today.

1h closed below.. Down 41$.. This could be a long day for gold bugs.. I don't mean trade it long.

Gold very bearish.. day reversed to downtrend a week ago.. better sale on bounces..

Not the best day to be long oil either.

A drop in commodities may slow inflation. At least in the USA. Maybe not in other places with this strong usd.

Dollar new high 103.55...nothing can stop dollar... better click sale on any xxx/usd pairs for now..
stay away from buy button

Eur bloody red cross board

Gu month has revrsed to downtrend..

Japan may get killed too,, AJ below 95.91 bears watching for a dump. Yes the yen is weak. Maybe not as much now.