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London copper slips as markets eye steeper US rate hikes MELBOURNE: London copper slipped on Thursday after the Federal Reserve reaffirmed US interest rates would stay low in the short term but suggested hikes may follow more quickly when they do arrive, pushing up the dollar and cutting the price of commodities. The US central bank on Wednesday renewed its pledge to keep interest rates near zero for a "considerable time", but also indicated it could raise borrowing costs faster than expected when it starts moving. The dollar rose to its highest in over four years against a basket of currencies on Thursday, making dollar-based commodities more expensive for holders of other currencies. "If US economic numbers continue on the better side, then guess what? The December meet is going to be hawkish, which would be dollar-favourable, which would be mostly negative for commodities," said analyst Dominic Schnider of UBS Wealth Management in Singapore. "As China continues to show patches ...

London copper up as Fed rate hike expectations unwound MELBOURNE: London copper climbed on Wednesday to near its highest in a week as investors backed away from expectations the Federal Reserve would bring forward its timeline to raise interest rates at the end of its two-day meeting later in the session. The Wall Street Journal's Fed watcher Jon Hilsenrath said the central bank would keep the words "considerable time" in its policy statement, although it might qualify them.The phrase has become a touchstone for ...
London copper inches up, Fed meeting in focus MELBOURNE: London copper edged up on Tuesday from near three-month lows, as traders squared their books ahead of a Federal Reserve meeting that is expected to offer clues on when US interest rates will climb.London Metal Exchange aluminium, nickel and zinc all rose around 1 percent, with lead up around half a percent, although traders noted that volumes were lower than usual. "There's an element of retracement from yesterday's weakness and possibly a bit of ...
LME copper near 3 month low on China growth jitters MELBOURNE: London copper slipped towards three-month lows on Monday after growth at China's factories stumbled to its weakest in nearly six years in August, fuelling concerns over its metals demand. As well as weakening growth in China's factories, growth in other key sectors also cooled, raising fears the world's second-largest economy may be at risk of a sharp slowdown unless Beijing takes fresh stimulus measures. "It's going to be a messy day I think," said ...
LME copper holds near 1 month low as stock build looms SYDNEY: Copper was perched above one-month lows on Thursday but looked vulnerable to fresh losses as cracks appeared in global economic growth, while expectations supply will rise towards year-end also kept a lid on prices. An abrupt slowdown in China's credit growth as well as wobbles in Europe's economy as result of sanctions over the Ukraine are threatening to derail global growth and casting a pall over metal demand. Added to these concerns are worries ...
London nickel slips from two-month highs on stronger dollar SYDNEY: London nickel slipped from near two-month highs on Tuesday as the dollar rose, sparking profit-taking across metals, but gains were underpinned by prospects of an ore export ban from the Philippines. Nickel prices rallied more than 7 percent over the previous four trading days on concerns the top supplier of nickel ore for China's stainless steel industry could wind back or halt exports, worsening a supply shortfall after a similar move by Indonesia in ...
Corn futures extend losses as frost threat eases SYDNEY: US corn futures inched down on Tuesday as concerns over potential frost damage eased, extending losses into a sixth session out of seven amid expectations for a record crop.Wheat followed corn lower, while soybeans also edged down as cold weather forecasts weakened.Chicago Board of Trade December corn futures fell 0.4 percent to $3.47 a bushel, having closed down 2.2 percent the session before."The thinking now is that the cold snap is not severe enough ...

 



 
Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln