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Daily iron ore price update (60-70)

December 7, 2018 - 09:15 -- Admin

Iron ore price charts for December 6, 2018: Spot down. Paper down more. Steel too. Planet coking coal drifting into its own orbit. I don’t expect much to happen between now and February. Look for flopping around in the $60-70 trading range.

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Australian dollar rally already over as oil cracks

December 7, 2018 - 09:00 -- Admin

DXY was soft last night. CNY too. EUR better: AUD was hosed across developed markets: And emerging: Gold tried and failed to rally: Oil was smashed: Base metals fell: Big miners broke: And EM stocks: Also junk: Treasuries boomed: As did bunds: Stocks fell sharply but recovered losses: Westpac has the wrap: Event Wrap US

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Macro Morning

December 7, 2018 - 09:00 -- Admin

By Chris Becker US markets reopened and immediately went into sell mode overnight, down nearly 3% in mid-session before a late rally saw prices recover to a scratch session. European stocks were not so lucky, with big falls across the board as the trade war continues, Trump still distracted by the Mueller investigation to effect

The post Macro Morning appeared first on MacroBusiness.

Australian construction PMI pukes lower

December 7, 2018 - 08:30 -- Admin

Goodbye Botox Boom: Construction sectors: Engineering construction (54.0 points trend) was the best performing sector in November, recording its 21st consecutive month of growth on the back of on-going strength in publicly funded investment in large-scale infrastructure projects. At the other end of the scale, apartment building activity (31.0 points trend) contracted for an eighth

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RBA breaks the panic button

December 7, 2018 - 06:16 -- Admin

From Guy Debelle, deputy governor of the RBA: It is now just over 10 years since the date that people most associate with the Global Financial Crisis (GFC), namely 15 September, the day that Lehman Brothers filed for bankruptcy.[1]There have been quite a number of articles written in recent months looking back at that time

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Crashing sales volumes to drag house prices lower

December 7, 2018 - 00:15 -- Admin

By Leith van Onselen CoreLogic’s latest dwelling sales data was more bad news for those groups heavily reliant on property transactions, such as real estate agents and state governments (via stamp duty). It also points straight down for house prices. The next chart plots annual sales volumes across the five major markets to August 2018,

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MB Fund Podcast: Erik Townsend on the future of bitcoin

December 7, 2018 - 00:10 -- Admin

Today on the podcast we have Erik Townsend, a retired software entrepreneur turned hedge fund manager, public speaker and co-author of his own popular industrial grade podcast, MacroVoices. Erik is joining us today to talk about his new book ‘Beyond Blockchain, the death of the dollar and the rise of digital currency’ and how a

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CoreLogic weekly house price update: Oh dear!

December 7, 2018 - 00:10 -- Admin

By Leith van Onselen In the week ended 6 December 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, tanked another 0.36% – the biggest weekly decline of the past year: Values fell across all major markets except Adelaide: The quarterly decline has steepened to 2.3%, with Sydney,

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WA economic bust gets second wind

December 7, 2018 - 00:10 -- Admin

By Leith van Onselen Western Australia’s economy appears to have taken another leg down, with yesterday’s national accounts recording a second consecutive quarterly decline in final demand, falling by 0.3% in the September quarter – the third consecutive decline: Whereas annual final demand fell by 0.8%: At the same time, Perth dwelling values have taken

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Oil prices not low enough to slow US production

December 7, 2018 - 00:05 -- Admin

EIA put out a timely reminder of the big picture for US oil. There has never been more proved reserves or production:   A big part of this is the economics of shale oil. A typical oil well has economics that looks something like this: Source: Changing Paradigm for the Oil Industry: From Peak Oil Production

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