08292016Mon
Last update: Mon, 29 Aug 2016 03am

Australia

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 relatively soon.The comments came as U.S. consumer prices recorded their biggest increase in more than three years in April as gasoline and rents rose, pointing to a steady inflation build-up that could give policymakers cause to raise interest rates later this year.The comments pushed up the dollar against a basket of currencies to the highest in nearly one month, which makes paying for dollar-denominated metals with other currencies more expensive.Three-month copper on the London Metal ...

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 ...

Markets - Commodities - Australia

London copper edges lower; China optimism, oil lend support MELBOURNE: London copper slipped on Tuesday, but losses were limited as a slew of supportive economic signals out of China painted an encouraging picture for demand, and risk appetite improved after a strong performance by the oil market.China's leaders sound more confident that the world's second-largest economy has arrested a slide in growth to quarter-century lows, after industrial and housing gauges most recently surprised to the upside last week."There seems to be a general wave ...