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MacroBusiness Wednesday, August 4, 2021 - 09:30 Source

The ferrous complex mixed onAugust 3, 2021 as spot firmed a touch, paper fell sharply overnight and steel was walloped again: The Dalian contract rolled forward which gives you some idea how steep is the backwardation. In news, it’s all about confusion, added to by the AFR: The Chinese government’s mixed messages on carbon emissions have sent

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MacroBusiness Wednesday, August 4, 2021 - 09:26 Source

Via Markit: Employment OK. Full report.

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MacroBusiness Wednesday, August 4, 2021 - 09:00 Source

Equities bounced back on Wall Street as corporate earnings overshadowed everything else, although stronger US factory orders and more Fed talk supporting a gradual taper helped as well. Treasury yields however spell out the better picture and remain down at multi month lows while currency markets saw a big of USD strength eke back in.

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MacroBusiness Wednesday, August 4, 2021 - 09:00 Source

Forex markets were largely calm on August 4, 2021. The stubborn RBA lifted AUD but everything else stayed the course. DXY was firm as EUR eased: AUD lifted across the board. There is a base forming in AUD/USD that could be construed as short term bottom: Gold and oil sank: Base metals too: Big miners

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MacroBusiness Wednesday, August 4, 2021 - 08:30 Source

Hello lockdowns, via AIG: Employment still OK. Full report.

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Your Democracy Wednesday, August 4, 2021 - 07:19 Source

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MacroBusiness Wednesday, August 4, 2021 - 00:10 Source

The Australian Bureau of Statistics (ABS) yesterday released data showing that thousands more Australians have ditched Sydney and Melbourne and moved to Queensland. As shown in the next table, 8,169 residents left Sydney and 8,273 residents left Melbourne over the March quarter. By contrast, Brisbane gained 3,274 residents from the rest of Australia: The next

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MacroBusiness Wednesday, August 4, 2021 - 00:05 Source

For years we have argued that Australia’s international education industry is really an immigration play, whereby migrants effectively purchase access to work and live in Australia by studying at an Australian institution. The immigration play has been developed jointly by the federal government and education industry via: The federal government offering the most generous work

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MacroBusiness Wednesday, August 4, 2021 - 00:01 Source

Global Macro / Markets / Investing: Transitory inflation could mean higher prices for years, not months, and Powell’s stance could complicate his future as Fed chief, Mohamed El-Erian says – Business Insider How the Great Forgiving of Debt Will Save Us From Ourselves – Carbon Radio Oil prices fall on worries over China economy and

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The Australian Independent Media Network Tuesday, August 3, 2021 - 16:00 Source

The company has been looking forward to this for some time. For an outfit found wanting in dealing with inhabitants of a land whose culture it eviscerated in a matter of hours in May last year, Rio Tinto could think grandly about another future. The Anglo-Australian mining giant could add its name to a sounder,…

The post Rio Tinto in Serbia: The Jadar Lithium Project appeared first on The AIM Network.

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MacroBusiness Tuesday, August 3, 2021 - 16:00 Source

The good start to the trading week as stumbled already here in Asia with the fallout from last nights US ISM manufacturing print and growing concerns over COVID spilling over once again as equities pullback. Bitcoin is following the risk mood, struggling to gain traction after the false breakout to start the week as the

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 3, 2021 - 15:59 Source

The RBA statement today: At its meeting today, the Board decided to: maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent maintain the target of 10 basis points for the April 2024 Australian Government bond continue to purchase government securities at the rate of $5 billion a

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Renew Economy Tuesday, August 3, 2021 - 15:49 Source

PowAR chief executive Geoff Dutaillis talks about big wind projects, battery storage

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Renew Economy Tuesday, August 3, 2021 - 15:49 Source

Victorian government greenlights three new network upgrades and synchronous condensers so it can host mo

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Renew Economy Tuesday, August 3, 2021 - 15:36 Source

Suntech Australia Official Statement.

The post Suntech to only sell modules through single channel in Australia appeared first on RenewEconomy.

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Renew Economy Tuesday, August 3, 2021 - 15:19 Source

EnergyAustralia reports on a challenging six months that included forking out $65 million – and counting – to address its ongoing Yallourn coal mine problems in Victoria.

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Renew Economy Tuesday, August 3, 2021 - 14:55 Source

MGA Thermal CEO Erich Kisi and CTO Alex Post (Supplied).

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Renew Economy Tuesday, August 3, 2021 - 14:51 Source

Renewable energy sources in UK generated more electricity in 2020 than fossil fuels, a first for the country.

The post UK renewables beat fossil fuels over calendar year for first time in 2020 appeared first on RenewEconomy.

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The Australian Independent Media Network Tuesday, August 3, 2021 - 14:45 Source

There’s no roadmap out, wails NSW premier, Gladys Berejiklian, Typhoid Mary of our Delta blues, parroting Scott Morrison, the PM for NSW, who savages his gold-standard, open for business poster-girl; turns on her to save his own hide.  Hand-ball Morrison gets JJ Frewen to fire the bullets in Friday’s national cabinet. It’s like the scene…

The post Typhoid Mary, Gladys, no longer PM’s poster girl, gets the Delta blues. appeared first on The AIM Network.

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Renew Economy Tuesday, August 3, 2021 - 14:11 Source

More than a dozen wind farms posted capacity factors above 50 per cent in a record month for wind output in July.

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Renew Economy Tuesday, August 3, 2021 - 14:01 Source

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MacroBusiness Tuesday, August 3, 2021 - 14:00 Source

Goldman with the note. Neutral DXY, long EUR and short JPY is classic risk on positioning for forex. If a growth scare takes flight then the safe-haven flows will be violent: In the week ending July 27, non-commercial traders added $2.7bn to USD net length. In the previous week, after net purchasing $4.4bn USD, non-commercial

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Renew Economy Tuesday, August 3, 2021 - 13:57 Source

crookwell stage 3 wind Countryside landscape and wind farm - optimisedVestas to supply and install 16 turbines for the Crookwell 3 wind farm, putting the NSW project on track to start generating power in 2022.

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Renew Economy Tuesday, August 3, 2021 - 13:54 Source

remote australia solar farm desert - canva - optimised

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MacroBusiness Tuesday, August 3, 2021 - 13:40 Source

Labor leader Anthony Albanese believes the federal government should give all people who are fully vaccinated against COVID-19 by December a one-off payment of $300. Albanese says that if all eligible people got vaccinated and spent the $300 payment, it would inject as much as $6 billion into the economy. Finance Minister Simon Birmingham rejects

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MacroBusiness Tuesday, August 3, 2021 - 13:20 Source

Australia’s last census (2016) was associated with great controversy stemming from its “digital-first” strategy, whereby the majority of Australians would do the census online for the first time. Then a denial of service (DOS) attack occurred on census night, resulting in the online questionnaire platform shutting down and remaining offline for nearly two days. This

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MacroBusiness Tuesday, August 3, 2021 - 13:00 Source

New data from the Australian Bureau of Statistics (ABS) shows that dwelling approvals fell by 6.7% in June to be 48.9% higher over the year. The fall was driven by detached houses, which tanked 11.8% in June whereas unit approvals rose 0.8%. Units led approvals over the year, lifting a whopping 63.7% versus a 44.3%

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MacroBusiness Tuesday, August 3, 2021 - 12:40 Source

BofA with the note: 2Q EPS tops our estimate; a 14% beat Following the busiest earnings week of 2Q, 296 S&P 500 companies (76% of index earnings) have reported. 2Q EPS is now tracking a 14% beat or $51.12, topping our estimate of$50 or an 11% beat. 2Q is now expected to be +83% YoY

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MacroBusiness Tuesday, August 3, 2021 - 12:20 Source

TS Lombard with the note. I agree with this. But the risks rise as the Chinese economy goes ex-growth and CCP legitimacy slides: China’s growing military assertiveness towards Taiwan over the past 18 months has deepened concerns that it is preparing to invade. But the increasingly vocal minority who argue that rising tensions along the

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MacroBusiness Tuesday, August 3, 2021 - 12:00 Source

The Australian mortgage market softened in June, recording its first monthly fall for nine months, according to new data released today by the Australian Bureau of Statistics (ABS). The total value of new mortgage commitments fell by a seasonally adjusted 1.6% in June 2021 to be up 82.7% year-on-year: As shown above, owner-occupiers have driven

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