May 20, 2024

The rally in the US dollar witnessed earlier this year has reversed course as investors anticipate a decline in inflation in the world’s largest economy, potentially providing the Federal Reserve with greater flexibility to cut interest rates. Initially, the greenback had appreciated by up to 5 percent against a basket of currencies by mid-April this […]

Rio Tinto (ASX:RIO) has officially declared a force majeure on alumina shipments originating from its refineries in Queensland, Australia. The decision stems from a shortage of gas necessary to sustain its operations, according to sources familiar with the matter. The announcement was made to clients on Monday, though the sources requested anonymity when discussing confidential

Gold went for another record-breaking run on Monday but couldn’t hang on to the new peak, while copper managed to retain its gains. Comex June futures leapt to a new all-time high of just over $US2,454 an ounce — $10 higher than the previous peak reached on Monday, May 6. However, they then retraced to

Nvidia shares rallied strongly in Monday trading ahead of its quarterly earnings result due out on Wednesday, leading the Nasdaq to a new record close. The Nasdaq finished the day up 0.65 per cent setting a new record close at 16,794.87. The S&P 500 closed up 0.09 per cent and the Dow closed down 0.49

China’s key industrial production may have bounced by a larger-than-expected annual 6.7% in April, but it did so without any help from the country’s key steel sector. In fact, China’s crude steel output surprised with a significant fall in April. Crude steel output fell to 85.94 million tonnes in April, down from 88.3 million tonnes

President Xi Jinping had his opportunity to make a dramatic statement about new help for the country’s economic black hole—AKA housing and property—and tanked it on Monday. The policy was outlined on Friday by the government with reduced loan-to-valuation ratios, lower (record) low rates for first and second home buys, and a special fund (finally)

Australian shares are inching closer to a record close, with the ASX moving within 35 points of its all-time high. The rally is being driven by strong performances in the mining and energy sectors, buoyed by record-high prices for commodities such as copper and gold. Meanwhile, in international markets, China has opted to keep its

Star (ASX:SGR) shares came out of a brief trading halt after the company was forced to issue a second statement Monday morning on supposed takeover approaches. The second statement, which named a possible bidder, saw the shares leap nearly 205% to 54 cents just before midday. The Star said on Monday morning, after the brief

Bastion Minerals (ASX:BMO) has announced a significant new discovery with widespread visible uranium mineralisation with high spectrometer readings at the Morrissey Project. This significant new discovery in the Morrissey project identifies potential for economic surficial uranium, hosted at shallow depth in calcrete, with possible contemporary analogues such as Lake Maitland. Shares are trading 25 per

Copper has surged to a new high, driven by financial investors anticipating a supply shortage, with futures on the London Metal Exchange reaching $US10,848 a ton, reflecting a more than 25% increase since the year began, amid concerns of a tightening ore supply potentially leading to a global shortfall in refined metal. At 11:30am, the