News
Iron ore market in temporary equilibrium?
Quick chart that tracks Port Hedland iron ore loaded exports, Chinese port inventories versus the spot price for 62% concentrate. In October Port Hedland shipped a record amount of ore with some 29.8m d/mt going to China. While that was down on the 31.7m d/mt shipped...
Australian service sector activity tanks, every component contracting
The latest AIG Performance of Services Index for October has just been released with activity now contracting at the fastest pace seen since August last year. Every component within the survey sits now below the 50 level that separates expansion from contraction. New...
Risk retreats on reports of ECB revolt
Market Update November 5 Bad news for ECB President Mario Draghi and those looking for further aggressive steps from the ECB, if the reports heard overnight become reality, with Reuters reporting that ‘National central bankers in the euro area plan to challenge...
Trade deficit, retail sales and unemployment at multi-year highs in September
Which country could possibly record the largest trade deficit since November 2012, the highest unemployment rate since December 2002 and largest retail sales growth since February 2013 all in the same month? Australia, that's who! Starting from the top the...
Major data, RBA and a horse race
Market Update November 4 US manufacturing activity accelerated sharply in October with the ISM’s PMI gauge rising to 59.0. The reading, the equal-highest level seen since February 2011, was far stronger than the 56.6 figure of September and expectations for a decline...
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