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Iron ore takes out the trash

August 6, 2025 - 10:00 -- Admin

Ferrous is doing a merry dance as steel and iron ore trade places. One of the mysteries of this year’s ferrous markets has been why or how seaborne market production increases have been absorbed without too much price damage. The output increase has been relatively small so far, and the stock has been offset by

Macro Morning

August 6, 2025 - 09:00 -- Admin

Another poor US domestic economic print – this time the latest ISM services survey – sent Wall Street lower amid reaction to a rambling interview by Trump overnight espousing new off the cuff tariffs for pharmaceuticals and others. Neither side of the Atlantic liked the newsflow although European stocks eked out a small gain while

Labor relaunches international student Ponzi scheme

August 6, 2025 - 08:30 -- Admin

The latest data from the Departments of Home Affairs and Education indicates that the Albanese government’s “crackdown” on the international education sector has had minimal impact. The Department of Home Affairs’ temporary visa data for Q2 2025 shows that there were 821,251 people residing in Australia on either a student or a graduate visa. This

Australian dollar licks its wounds

August 6, 2025 - 06:13 -- Admin

DXY is holding for now. AUD is licking its wounds. Lead boots bounced. Gold is firm, oil not. Metals are lacklustre. Mining bear intact. EM bounced. Junk toppy. Yields held the losses. Stocks fell anyway. I expect more AUD chaos for now. The market remains very short DXY, and such consensus trades often need long

House price crashes should be celebrated

August 6, 2025 - 00:05 -- Admin

Since the turn of the century, Australian policymakers have attempted to pump housing demand via stimulatory demand-side policies. These policies have ultimately driven mortgage debt and house prices higher, resulting in structurally worse housing affordability. The latest federal election was another prime example of this policy folly, with both Labor and the Coalition promising further

Macro Afternoon

August 5, 2025 - 16:30 -- Admin

Asian stocks are responding positively to the overnight solid moves on Wall Street and on European bourses with the ASX200 actually leading the way in today’s session. The USD remains on the ropes after falling sharply against the majors on Friday night but is seeing a slight blip higher despite some dovish cooing emanating from

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