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Australian wheat offered lowest in Iraq tender HAMBURG: Australian wheat was offered at the lowest price of $334.78 a tonne c&f free out (ciffo) in a tender from Iraq's state grain board to purchase at least 50,000 tonnes of hard wheat, European traders said on Monday.The offer was for 50,000 tonnes. This was followed by a separate offer for 50,000 tonnes of Australian wheat at $335 a tonne ciffo, traders said.Other offers for Australian wheat were made at $342.75 and $345.56 a tonne ciffo, traders said.The lowest offer for U.S. wheat was $349 a tonne ciffo and the lowest Canadian offer was $347 a tonne ciffo.The tender sought hard milling wheat sourced from the United States, Canada or Australia only and had closed on Sunday with offers having to remain valid up to Thursday, Jan. 23.A total 450,000 tonnes of Australian wheat was offered in the tender along with 150,000 tonnes from the United States and 150,000 ...

Shanghai rebar near record low; China data clouds outlook SINGAPORE: Shanghai steel futures fell for a third straight session to trade near record lows on Monday, pressured by a sluggish outlook for demand in top consumer China, whose economic growth eased in the last quarter of 2013.Dalian iron ore futures dropped nearly 2 percent to their weakest level since contracts were launched in October, with losses in Chinese equities also weighing on commodities amid jitters over tight liquidity.China's gross domestic product rose 7.7 percent ...

Weak ringgit lifts palm to 2 week high, but sluggish exports weigh KUALA LUMPUR: Malaysian palm oil futures rose to their highest in two weeks on Monday as a weaker ringgit prompted buying interest from overseas investors, but sluggish exports put a lid on gains and kept prices in a tight range.The Malaysian ringgit fell 0.5 percent against the US dollar on Monday, hitting a near four-month low and leading a downturn among emerging Asian currencies. A weaker ringgit boosts margins for overseas buyers and refiners.Weak demand ...

CBOT wheat to fall more to $5.54 SINGAPORE: CBOT March wheat is expected to fall further to $5.54 as a rebound from the Jan. 10 low of $5.60-1/2 could have completed.The completion has been indicated by wheat's failure to break resistance at $5.80, the 138.2 percent Fibonacci projection level of a wave C that fell from the Dec. 2, 2013 high of $6.74-3/4.Further indication has been given by the subsequent drop to support at $5.64, the 161.8 percent projection level.The black candle ...

LME aluminium to gain more to $1,839 SINGAPORE: LME aluminium is expected to gain further to $1,839 per tonne, as it has broken above resistance at $1,818. The resistance was established by the 76.4 percent Fibonacci retracement on the fall from the Dec. 30, 2013 high of $1,839 to the Jan. 9 low of $1,751, there will be no other resistance until aluminium reaches $1,839. The speed of the rise simply indicates a remote chance of aluminium to return to $1,805, the ...

Shanghai copper biased to test resistance at 52,170 yuan SINGAPORE: Shanghai copper is biased to test a resistance at 52,170 yuan per tonne, as indicated by its wave pattern and a Fibonacci projection analysis.The resistance is provided by the 76.4 percent Fibonacci projection levels of an upward wave c, which started at the Wednesday low of 51,290 yuan. The third component wave of this wave, the c-3, could have just started.The wave c-3 has a fierce character and may easily break the resistance, to ...

CBOT soybeans to revisit low of $13.05-1/2 SINGAPORE: CBOT soybeans March is expected to revisit its Jan. 17 low of $13.05-1/2 per bushel as its correction from the Jan. 16 high of $13.30-1/2 has not completed.The correction will consist of three waves labelled a, b, c. So far only the wave a has unfolded, and the wave c is yet to develop.The wave b may end around $13.21, based on the assumption that the following wave c will travel roughly the same ...


Index Closing Chg%
Arrow DJIA 17,6630.27 1.09
Arrow Nasdaq 5,089.21 0.98
Arrow S&P 2,093.25 1.24
Arrow FTSE 6,555.28 0.77
Arrow DAX 11,173.91 1.06
Arrow CAC-40 4,977.32 1.01
Arrow Nikkei 20,328.89 0.10
Arrow H.Seng 24,503.94 0.62
Arrow Sensex 27,459.23 0.37

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln