Australian Dollar Outlook - 09/27/2011
The AUD has strengthened overnight, opening above USD0.9800, as markets cautiously thought through the possibility the world economy may avoid a global recession.
Rio Tinto Now Owns 49% of Ivanhoe Mines
After the Mongolian government stated it wants to acquire a bigger equity in the Oyu Tolgoi copper and gold mine at a much earlier pace, Rio Tinto has cemented its shareholdings on the company, Ivanhoe Mines, which directly manages the said mining project in Mongolia. Rio Tinto now owns 49 percent of Ivanhoe Mines.
Volatility Hits Uranium
By Greg PeelIt was a relatively busy week in the spot uranium market last week given industry consultant TradeTech reports eight transactions were completed totalling over a million pounds of U3O8 equivalent.
The Overnight Report: Throw A Tarp Over It
By Greg PeelThe Dow rose 272 points or 2.5% while the S&P gained 2.3% to 1162 and the Nasdaq struggled with a 1.
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Chevron Approves $29B Wheatstone LNG Facility in W. Australia
It's all systems go as Chevron Corp. formally approved today the $29 billion Wheatstone liquefied natural gas (LNG) project in Western Australia's Pilbara region.
Metals Stage Biggest Drop in Years; Gold May Not be 'Safe Haven' After All
It seems the "safe haven" of gold is losing its shine as investors flock to the renewed strength of the U.S. dollar amid the dreary global economic outlook, causing the precious metal along with silver to plummet on the trading floor.
Banks Refuse to Grant Greece Longer Repayment Terms
Commercial banks have rejected calls for creditors to allow Greece to trade its existing bonds for those with extended repayment limits.
Mongolia Wants Bigger 50% Stake in Oyu Tolgoi Copper-Gold Mine Project
The Mongolian government is seeking to increase its stake allocation in the Oyu Tolgoi copper-gold project from 34% to 50%, leaving its developers rethinking if it was a good deal at all to have initiated the project.
Material Matters: Equities and Commodities, Plus The End For Nexus?
- Disconnect between equity and physical commodity markets- Some evidence bulk commodity markets are close to cracking- An assessment of potential Oz economic downside- MD departure signals issues at NexusBy Chris ShawRecent equity market moves imply both spot commodity prices and future expectation...
Kathmandu A Preferred Retail Exposure
- Kathmandu result solid given tough conditions- Earnings growth to be driven by new stores, refurbishments- Stock seen as offering value at current levels- Buy ratings continue to dominateBy Chris ShawRetail conditions have been tough for some time, so the fact Kathmandu Holdings ((KMD)) delivered ...
Markets: Commodities Sold Off/Shares Steadied
Led by gold and copper, commodity prices fell to nine month lows last week, thanks to the sell-off on Thursday and Friday across the globe.
Brothers Grimm At The IMF/World Bank Meetings
Kathleen Brooks, Research Director UK EMEA, FOREX.comWhat a week. The race to the bottom between the majors is well and truly on and right now Europe is winning a race that a no one wants to win.
Australian Stock Market - Morning Report 09/26/2011
Finance ministers and central bank officials from G20 countries said that they would take all actions to address problems in the global financial system: ´´We commit to take all necessary actions to preserve the stability of banking systems and financial markets as required.´´
Online Shopping Access with New ASOS Australia Site
UK online brand ASOS had launched its first site ASOS exclusively for the electronic shopping savvy Australians beginning on Sept. 15.
S. Korea to Revive its Stem Cell Research Program
South Korea President Lee Myung-bak announced on Friday of the government's plan to invest $90 million reviving its stem cell research next year aiming for a "core new growth engine" after the industry suffered a setback for more than a year.
Some Japanese Industries Now Requiring English for Job Seekers
As Japan struggles with its soaring yen, a series of catastrophes and a plummeting domestic business market, thousands of Japanese citizens are spending a fortune to enhance their English communications skills, which they believe is the key factor in retaining or earning a job opportunity, Reuters reported.
Travel Smart Australian Travellers Brace for the Falling Dollar
Good or bad news, it could still be good news. While most are on the edge awaiting for final developments as to how low the Aussie dollar can go, some are just most happy they have taken advantage of its worth months ago.
Euro Recovers as G-20 Vows Joint Response to Economic Problems
The euro made a comeback after five consecutive days of shortfalls against the U.S. dollar and Japanese yen and reduced its decline to just above 2 percent since Sept. 16 on Thursday.
Soros Warns EU Debt Debacle Could Launch Depression
George Soros said, "If the crisis is controlled, the German voting public will force austerity on the rest of Europe, pushing the entire region into recession and ultimately into a depression."
Massive Deposits Flowing Out China’s Top Banks: Report
Deposits flowed out of China's four major state-owned banks as high inflation and low interest rates prompted savers to cash their money in the private lending market for better returns.
China Can't Revive World Economy; IMF Slashes Growth Forecast
China is headed for a slowdown and may not be able to pull the world out of its economic rut, projections from the International Monetary Fund and a drop in HSBC's purchasing managers' index indicate.
Slump Hits Canadian Stock Market Too
It was a similar experience for the stock market in Toronto as the major stock index went down by more than 3 percent on Thursday, the lowest level since 2010.
Copper Prices Suffer Hardest Fall in 3 Years
Fearing a global fall into recession, copper investors liquidated their assets Thursday, forcing copper futures to drop by more than 7 percent to their lowest levels in a year at $3.48 a pound.
China, Tanzania Set to Engage in $3B Coal, Iron Ore Deal
China and Tanzania are set to work on a $3-billion coal and iron ore construction partnership that will develop the Mchuchuma coal and Liganga iron ore projects in Southern Tanzania.
World Leaders Move Swiftly, Urgently to Curb Currency Crisis
Government leaders of Australia, Britain, Canada, Mexico and other Asian countries have called on all 17 members of the Eurozone to deal with the worsening problems of the Euro currency.
Out With The Fed And Back To Europe
By Kathleen Brooks, Research Director UK EMEA, FOREX.comStocks in Europe have nose-dived today, with most of the major European indices down about 4%.
The Overnight Report: Ghosts Of Lehman
By Greg PeelThe Dow fell 391 points or 3.5% while the S&P lost 3.2% to 1129 and the Nasdaq dropped 3.3%.
Global Markets Overview 09/23/2011
Investors staged a global flight from risk Thursday that sent the Dow Jones Industrial Average to its worst two-day point drop since November 2008, after a gloomy outlook by the Federal Reserve renewed fears of an economic slowdown.
End of a Busy Summer in Japan
The 2011 summer of the Japan Swimming has just ended. This summer was busy as usual.
International Lenders Force Greece to Take on Austerity Measures
Finance Minister Evangelos Venizelos of Greece told members of Parliament on Thursday that the beleaguered government has decided to adopt more austerity measures, which consisted of reducing pensions and making adjustments in the public sector.
European Banks Should Raise Capital – IMF
In a bid to protect the global economy from further financial oblivion, the International Monetary Fund pressed Europe's many banks to raise capital to cushion the $405 billion it stands to lose because of the massive euro-debt crisis.
European Banks Face $410 Billion Deficit
The International Monetary Fund today made public a Global Financial Stability Report that underscored the need for European commercial banks to augment assets to ensure the confidence and loyalty of creditors and depositors.
Federal Reserve Tries New Approach to Resuscitate Economy
The U.S. Federal Reserve announced on Thursday that it unveiled another strategy purportedly to reduce the costs of long-term loans and reinforce the nation’s slumping housing industry.
Market Insight: Operation Twist, Markets Outlook And Woolworths
By Rudi Filapek-VandyckJim Morrison said it a few decades ago: "The future is uncertain and the end is always near".
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