by Warren Head | Aug 18, 2024 | Commodities
15.8.24 Shipping Gazette - Crude spot prices rose for the second month in July, as physical crude market fundamentals remained solid, noted OPEC this week. The world oil demand growth forecast for 2024 is revised down slightly by 135 tb/d from the previous month’s...
by Warren Head | Jul 30, 2024 | Commodities, Currency, Economy, Money Market
Newsflow has been light and market movements have been well contained at the start of a busy week, notes BNZ Markets. US equities are flat, global rates are down slightly and the US Dollsr is slightly stronger, with the NZ dollar probing fresh multi-month lows below...
by Warren Head | Jul 24, 2024 | Commodities, Currency, Money Market
US equities are flat and US Treasury yields are slightly lower, while lower commodity prices continue to drag down the NZD and AUD, notes BNZ Markets this morning. While the yen remains flavour of the week. The NZD is probing the 0.5950 level, says Jason Wong, senior...
by Warren Head | Jul 17, 2024 | Commodities, Latest News, Money Market
17.7.24 Gold hit a record high of US$2465 an ounce overnight. “It also benefits from lower interest rates, given the cost of holding the precious metal, as it bears no interest,” comments BNZ Markets. “Gold has rallied by close to 50% since late 2022, underpinned by...
by Warren Head | Jun 20, 2024 | Commodities
20.6.24 The GDT dairy auction price index fell 0.5% this week, after a string of strong auctions. “Whole milk power was a drag on the result, falling 2.5% while skim milk powder rose 0.7%,” said BNZ Markets. The auction was mixed with whole milk powder (-2.5%)...
by Warren Head | Jun 5, 2024 | Commodities, Currency, Economy, Money Market
5.6.24 The US dollar is broadly stronger overnight, seeing the NZ dollar slightly weaker after its run towards 0.62 yesterday, commented Jason Wing, senior markets strategist. The yen has outperformed as the market anticipates less BoJ bond buying ahead. US Treasury...
