by Warren Head | Mar 7, 2024 | Commodities
7.3.24 Dairy prices pulled back slightly at this week’s Dairy Trade auction. Overall prices were down 2.3% and the key whole milk powder (WMP) prices fell 2.8%. “This auction was weaker than recent auctions but more in line with recent weaker futures market trends and...
by Warren Head | Mar 7, 2024 | Commodities
7.3.24 The ANZ World Commodity Price Index gained 3.5% m/m in February as both dairy and meat prices improved. In New Zealand dollar terms, the index lifted 4.1% m/m as the NZ dollar fell 0.8% against the US dollar. ANZ agri economist Susan Kilsby commented...
by Warren Head | Mar 7, 2024 | Commodities
7.3.24 The market value of gold rallied to a record level this week, after markets reacted to the weaker US dollar emanating from the belief US interest rates are stable for now and likely to fall later in the year. Reuters reported gold was building on the “stellar...
by Warren Head | Feb 21, 2024 | Commodities
21.2.24 The latest GDT dairy auction held in midweek showed the positive trend continuing with an overall gain of 0.5% in the price index. This was the smallest increase this year and the results were mixed. Whole milk powder falling 1.8% and skim milk power up...
by Warren Head | Feb 20, 2024 | Commodities, Currency, Economy, Money Market
Currency movements have been modest, with the NZD’s 0.3% gain to 0.6145 from last week’s close making it the top performer, notes BNZ Markets this morning. With the US public holiday there has been little newsflow. Future markets for Treasuries and equities show small...
by Warren Head | Jan 30, 2024 | Commodities, Currency, Economy, Global Share Markets, Money Market
Markets are in a holding pattern ahead of an eventful week, says BNZ Markets this morning. The week includes policy meetings from the US Fed and BoE, key global economic releases, earnings reports from some of the US market’s magnificent seven, and the US Treasury’s...
