Japan has rejected Australia's position on whaling, calling it "mistaken." The Asian country told the International Court of Justice in The Hague that "alarmist" Australia is blinded by its "no-compromise, zero-tolerance" anti-whaling views, which it wants to impose on other nations.
The Australian market continues on its bumpy ride this week, with investors not keen to back up yesterday's stellar rise. The All Ordinaries Index (XAO) is down 1.8 per cent, with all sectors trading in the red. Despite the big falls, keep in mind that Tuesday was the best day for local shares since October 2011. The miners were the standout performers yesterday, but are slumping most at lunch. Last night, most markets eased despite FOMC President Dudley reaffirming his previous comments that...
The Australian Dollar has remained reasonably steady overnight following some more US Dollar strength for a variety of reasons.
Once more choppy trade is defining the start of the new financial year.The US and Europe both suffered from low volume trading and sporadic price action last night, as both sides of the Atlantic slip into the red for the first time this week.
In US economic news, factory orders rose by 2.1pct in May following a 1.3pct gain in April. The US economic news flow remains pretty decent.
By Greg PeelThe Dow closed down 42 points, or 0.3%, while the S&P fell less than a point to 1614 and the Nasdaq fell one point.
Strong turnaround as RBA leaves rates at historic lows. The Australian share market has made a solid turnaround today, spurred by positive offshore gains and the Reserve Bank of Australia's decision to leave interest rates on hold at 2.75 per cent.
After a dismal start to the new financial year, the Australian share market is rebounding today on the back of positive offshore moves and ahead of the RBA's rate announcement this afternoon.
In his speech on May 22nd, Chairman Bernanke did the equivalent of playing an ace, standing up and turning around. He gave you a massive hint at one of his rules. But what does that hint mean?
By Peter Switzer, Switzer Super ReportTuesday afternoon I bit the bullet and bought bank shares and gave myself a pat on the back across Wednesday and Thursday when the stock market went up 3.
- Spot price down US20c on last week- Down US85c in June- Life emerging in term market- TD securities cuts price forecastsBy Andrew NelsonJune was another difficult month on the uranium spot market, with spot prices falling and staying below US$40/lb.
- Australian Jobs continue to fade- Lower sales higher costs to blame- Businesses expect weak 2014- Jobs losses could mean more rate cuts By Andrew NelsonWhen the rest of the world had a GFC, they also had to endure the GFC jobs market and it wasn't a good one.
By Greg PeelThe Dow closed up 65 points or 0.4% while the S&P gained 0.5% to 1614 and the Nasdaq added 0.
Sellers returned from the weekend a little bolder. The result was that the market was in steady decline for much of the day. The main catalyst for the selling was the weaker manufacturing data out of China. This data point served to remind investors of the weight of economic news which will be released both locally and elsewhere over coming days, culminating with the US Jobs report on Friday evening local time. Investors will continue to calibrate their expectations of the Fed's retreat from ...
Investors seem to be kicking off the financial year with a sour taste in their mouths. The All Ordinaries Index (XAO) is down by 1.6 per cent at lunch. The banks are the biggest culprits when it comes to the losses, with the big four down by as much as 2.9 per cent.
Off The Forex Desk from PhillipCapitalEconomic News & ReleasesUS markets closed the Financial year on a negative tone with the Dow falling 115 points or 0.
'U.S. stocks rose, sending the Standard & Poor's 500 Index (SPX) higher for a second day, as China's cash crunch eased and slower-than-forecast economic growth fueled speculation the Federal Reserve will maintain stimulus.' - Bloomberg News
The yellow metal continued its downward trend after the spot price of bullion hit a three-year low over the weekend to $1,180 an ounce. Since January 2013, gold price has retreated 29.5 per cent while the FTSE Gold Mines index of gold equities has declined 52 per cent.
Happy End of Financial Year! It was a fairly uninspiring session on the Australian share market today, but over the course of Financial Year 2013 the market rose 15 per cent.
Massive defence spending in the Asia-Pacific region is driving an "explosion" in the global arms trade, and Asian military budgets are likely to eclipse the United States' by 2021, a study by respected analysts IHS Jane's showed on Tuesday.
Investors and traders aren't overly motivated to buy or offload equities on the final trading session of this financial year. The All Ordinaries Index (XAO) is up just 0.1 per cent. On a positive note, we've just had the best two run of 2013, with the XAO up 3.2 per cent on Wednesday and Thursday combined.
By Greg PeelThe Dow rose 114 points, or 0.8% to 15,024, while the S&P gained 0.6% to 1613 and the Nasdaq added 0.
After a tough start to June, investors are a little more upbeat heading into the end of the financial year. Today marked the second consecutive session of 1.6 per cent gains, with the Australian dollar also rising over the past 24 hours. Investors and traders weren't interested in Australian politics today and took their lead from offshore.
The Bureau of Resources and Energy Economics estimated that the value of Australia's mining and energy exports in 2013 would decrease by $16 billion even if the volume is bigger and currency is easing.
Australian stocks are enjoying a second session of gains, but it's not the events which transpired in Canberra overnight driving sentiment higher, rather the calm that has been brought to markets by the China Central Bank and a strong rally on Wall Street overnight.
By Michael Lombardi, MBA for Profit ConfidentialEconomic RecoveryThere's a lot of talk about economic recovery these days.
Gold continued to lose its sheen as a safe haven as its price further plummeted to $1,223.54 an ounce on Wednesday, its lowest since August 2010. By 3:08 p.m. at New York, gold settled at $1,225.91, down by 4 per cent.
By Greg PeelThe Dow rose 149 points, or 1.0%, while the S&P gained 1.0% to 1603 and the Nasdaq added 0.
- PBoC calms China's money market- De facto tightening nevertheless a result- Further pressure on China's economy- PBoC could yet reverse and loosenBy Greg PeelUnlike conventional monetary policy in the US, Europe and Australia, note Commonwealth Bank's foreign exchange analysts, Chin...
The Australian share market rebounded today, as buyers moved in after China's central bank moved to restore calm. The People's Bank of China (PBoC) said liquidity risks in its financial markets are controllable and the unprecedented spike in interbank lending rates would gradually fade.
