The iron ore jaws remain wide. The news from the NPC is steel output cuts. The world’s largest steelmaker and consumer will “promote restructuring of the steel industry through output reduction”, according to an official report on Wednesday. “We will introduce policies and measures for resolving structural problems in key industries and end the phenomenon
The post Steel output cut appeared first on MacroBusiness.
The latest net permanent and long-term arrivals data from the Australian Bureau of Statistics (ABS) showed that 446,504 net migrants arrived in 2024, slightly less than the record 449,813 that arrived in 2023. While net arrivals declined since March 2024 compared to 2023, each month in 2024 was higher than in the corresponding month in
The federal Labor Party announced its Powering Australia Plan in late 2021, promising to cut National Energy Market (NEM) wholesale power costs by $11 per MWh, from $62 to $51, by 2025. Labor bragged that its Powering Australia Plan will save Australians $275 on residential electricity bills in 2025 and $379 in 2030. According to
The Market Ear on the dead cat. NASDAQ – “oversoldest” NASDAQ has not been this oversold since August last year. Note that RSI at these levels, with NASDAQ trading below the 200-day as it touches the big trend line, has only occurred twice before since the great bull started. Source: Refinitiv “Netted out” Gross leverage
The post The dead cat lands appeared first on MacroBusiness.
The US is prepared to go to war with China if necessary, the Pentagon has announced, following Beijing’s threat of tariff retaliation in what marks another escalation in an ongoing trade war between the world’s two largest economies.
Tropical Cyclone Alfred is now forecast to hit Brisbane, the Gold Coast and the NSW Northern Rivers on Friday, with fears it is slowly strengthening into a category 3 system, unleashing winds greater than 150 km/h. The impacted regions are expected to experience major flooding, and up to 400 mm of rain is predicted. The
In 2019, the CIA proved that it had been lying to the public for decades about germ warfare in Korea when it released a trove of signals intelligence documents from the Korean War in a publication called Baptism by Fire: CIA Analysis of the Korean War.
Last week, I narrated the events surrounding the Ukrainian conflict, emphasizing that French President Emmanuel Macron, as brilliant as he is, was incapable of adapting to the changes in the world.
This week, I am taking up the same elements, and many others that followed, to show that the divorce of Europeans from each other and of the EU from the United States has become a reality.
DXY goes “CRACK”. EUR to the moon! AUD follows EUR but not fast enough to catch it. Lead boots held up. Amusingly, oil is going to pull that drill, baby, drill. Goldman will make you pay for the energy transition as copper rises DXY reflation. Big miners false dawn. EM up. Junk firmer. Yields higher
The post Australian dollar turns German rocket appeared first on MacroBusiness.
The US has suspended military assistance to Ukraine, including the delivery of weapons that were already in shipment, Polish Prime Minister Donald Tusk has told journalists. Earlier, the move was reported by several US media outlets.
Trump’s speech was full of wild claims. Here are seven that weren’t true
President Donald Trump’s address to a joint session of Congress highlighted several of the initiatives he has started in his first six weeks in office, but many of his comments included false and misleading information.
Here’s a look at the facts.
Wednesday’s Q4 2024 national accounts release from the Australian Bureau of Statistics (ABS) reported that the economy finally emerged from its per capita recession. The economy has finally broken the record seven consecutive quarter streak of real per capita GDP declines with a 0.1% quarterly expansion (with eight out of the last 10 quarters recording