05262016Thu
Last update: Thu, 26 May 2016 07am

Australia

Markets - Commodities - Australia

Copper gains on bright US housing data, but dollar could drag MELBOURNE: London copper rose on Wednesday for the second straight session, buoyed by brightening economic signals in the United States that forced shorts to cover, and showing near-term resilience to a persistently strong dollar.The dollar on Wednesday stood near a two-month peak against a basket of major currencies after robust U.S. housing data supported the case for the Federal Reserve to raise interest rates in the near term.Still, prolonged dollar strength could erode an already ebbing pick-up in real demand from China, since a credit expansion that fuelled demand in the first quarter has abruptly stopped, said CRU analyst Matthew Wonnacott in Hong Kong."The market is not falling off a cliff and there probably was a little bit of demand growth generated in the first quarter of the year. (But) it's all shaping up to be a little bit bearish for the second half," he said."The Chinese funds are looking ...

Markets - Commodities - Australia

London copper hits three month low as dollar rallies on US rate hike view MELBOURNE: London copper sank to its lowest since mid February on Wednesday as the dollar rallied after a stream of encouraging U.S. economic data supported the case for more rate rises this year.A U.S. Federal Reserve policymaker said on Tuesday that he will push for an interest rate hike in June or July and two others still see up to three rate increases this year, leaving the door open to a change in monetary policy ...

Markets - Commodities - Australia

London copper slips as dollar stays strong on US rate hike view MELBOURNE: London copper edged down on Wednesday as the dollar stood tall after a stream of encouraging U.S. figures supported the case for more rate rises this year.A U.S. Federal Reserve policymaker said on Tuesday that he will push for an interest rate hike in June or July and two others still see up to three rate increases this year, leaving the door open to a change in monetary policy relatively soon.The comments came as ...

Markets - Commodities - Australia

London copper hits 1-month high, buoyed by commodity gains MELBOURNE: London copper hit its highest in almost a month on Thursday, after strong gains in oil the session before stoked investor appetite for commodities, already supported by signs of a brightening picture for global growth."Positive gains on equity markets combined with stronger oil prices provided some support for base metal markets," ANZ said in a research note."Rising risk appetite should continue to support most commodity markets."World stock markets climbed to their highest in almost ...

Markets - Commodities - Australia

Recent iron ore, coal price gains not sustainable MELBOURNE: BHP Billiton does not expect recent rises in iron ore and coal prices to hold for more than a few months, as the uptick in prices would bring more supply to the market, its Australian chief said on Thursday. "I wish I could stand here and say this is going to be sustainable. I don't think it is going to be," BHP Billiton Minerals Australia president Mike Henry told the Melbourne Mining Club.Copyright Reuters, ...

Markets - Commodities - Australia

London copper drifts from near 3-week high touched on China outlook MELBOURNE: London copper drifted from near a three-week high on Wednesday after a reversal in crude oil prices dented sentiment, but a stream of encouraging signals on China's economy fostered a less bearish outlook on prices. China's industrial output surprised to the upside last month, while rising property prices suggested an economic recovery is taking root. "Overall, everyone is still looking at China - the March results are quite good you can see signs of ...

Markets - Commodities - Australia

London copper buoyed near 3 week high as China outlook appears to brighten MELBOURNE: London copper floated near a three-week high on Wednesday after a stream of encouraging signals on China's economy and a revival in oil prices lifted sentiment towards commodities. China's industrial output surprised to the upside last month, while rising property prices suggested an economic recovery is taking root. "Overall, everyone is still looking at China - the March results are quite good you can see signs of economic stabilization," said analyst Helen Lau of ...