How many legs does gold have left in its current rally? What about silver? And can copper staunch the losses as more metal than the market can handle ends up in LME and Shanghai Metals Market stockpiles? While oil recovered last week, its outlook is hazy. Even though iron ore edged higher late last week, […]
Heading into the Reserve Bank’s rate meeting this week, the ASX will not be in a confident mood. The ASX 200 Index will start with another fall this morning after the overnight SPI futures platform locked in a 17-point drop at the close on Saturday morning, Sydney time. That was after the index fell 25.4
Market turbulence ahead of Reserve Bank’s rate meeting Read More »
Oil prices might have bounced back last week from the post-OPEC+ meeting sell-off the week before, but market fundamentals continue to tell another story. On the one hand, the International Energy Agency once again revised downwards its forecasts for global oil demand growth, and US weekly inventories registered a surprise rise of 3.7 million barrels.
Oil market dynamics Read More »
Russia has been caught overproducing its OPEC+ quota, but no one seems to be upset. On Thursday, Russia’s Energy Ministry pledged to cut daily crude production in June by 971,000 bpd from the baseline of 9.949 million barrels. In April and May, Russia overproduced relative to its OPEC+ target, but now says it plans to
Russia’s OPEC+ quota excess goes unpunished amid global oil dynamics Read More »
Out of the blue, the Serbian government is reported to be ready to reverse itself and approve the nearly $US2.55 billion Jadar lithium/borate mine of Rio Tinto. The Financial Times reported online on Sunday that Serbian President Aleksandar Vui had said his country is preparing to give Rio Tinto the green light to develop Europe’s
Serbia considers reversal on Rio Tinto’s $US2.55 billion Jadar mine approval Read More »
Markets trade mixed with eight of eleven sectors in the broader index falling into negative territory. The tech heavy Nasdaq set another record close finishing 0.12 per cent higher at 17,688.88. The S&P 500 just tipped into the red closing down 0.04 per cent, closing at 5,431.60. The Dow Jones fell 0.15 per cent on
Nasdaq manages a fifth straight record close Read More »
New Zealand infrastructure investor Infratil (ASX:IFT) announced on Monday that it is seeking more than NZ$1 billion to finance the rapid growth in its data centre businesses. The investor revealed early Monday morning its plan to raise NZ$1.15 billion (approximately A$1.06 billion) to further invest in data centre operator CDC, driven by increased demand for
Financing growth in Infratil’s data centres Read More »
More action from central banks is expected this week, with the Bank of England, Norway’s central bank, and the Reserve Bank of Australia all holding rate-setting meetings. The European Central Bank, however, has a non-monetary policy meeting midweek. This won’t stop it from keeping an eye on the growing political uncertainty in France and the
Key economic events to watch this week Read More »
