The World More Benevolent Since Covid, Nordic Countries Still the Happiest

Happiness is something that should never be underrated. Finland and Denmark ranked as the happiest and second-happiest lands, and the top eight were all in northern Europe. It is true one’s version of happiness is different to another, be it cultural or luck. With the drums of war beating loudly through Russia’s invasion of Ukraine and the Middle East with Iran, Syria and Yemen all vulnerable or in conflict. Afghanistan, Lebanon and Zimbabwe are the unhappiest, as war-torn and impoverished … Continue reading “The World More Benevolent Since Covid, Nordic Countries Still the Happiest”

Australian Coking Coal Record High with Strong Demand in Korea and Japan

Record prices for top quality Australian hard coking coal were set three times in the past week. The price hit $US430 ($595) a tonne Wednesday, almost four times the price in May. Coal prices have risen unabated with supply chain disruptions. Strong demand in Korea and Japan has fueled the rally over the past seven weeks. The prices were already pressured with Indonesia’s decision to ban coal exports. Further pressure on coal prices came from BHP, the world’s biggest coking … Continue reading “Australian Coking Coal Record High with Strong Demand in Korea and Japan”

The Australian ASX 200 Stock Market Closed Up 13% in 2021 With Lithium Plays Starring

Australian Blue Chip ASX 200 ended the ASX finished 2021 at 7,779.20 up over 13% for the year. This compares to a loss of just over 1% in 2020 and a gain of over 20% in 2019. All of the 11 main sectors of the share market were higher except information technology and energy in 2021. Tech went from being the best-performing sector in 2020 to the worst in 2021. Battery materials supplier Novonix was the top stock up 660 … Continue reading “The Australian ASX 200 Stock Market Closed Up 13% in 2021 With Lithium Plays Starring”

Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve

Iron ore had the bears out in full force just a month or so ago, with the China attempt to “destroy Australia”, the shipping crisis and more. Analysts were anticipating demand for iron ore to collapse as China reduced its steel production. Targets were lowered to US$65 to $85 a tonne by many of the larger groups.  Here we are the most actively traded iron ore futures on the Dalian Commodity Exchange for May delivery closed 3.9% higher at 714 … Continue reading “Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve”

Norway Raised Interest Rate with More Hikes Likely Depending on Coronavirus Impact

Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy rate from 0.25 percent to 0.5 percent on Thursday as widely expected. The bank and said more hikes were likely next year although that would depend on the impact of a surge in coronavirus infections and the emergence of the Omicron variant. Norges Bank’s action was its second hike in three months, as predicted economists polled by Reuters and in line with the central … Continue reading “Norway Raised Interest Rate with More Hikes Likely Depending on Coronavirus Impact”

Australia October Trade Surplus AUD+11.22bn With Exports Lower on Iron Ore Prices

Australia posted a trade surplus of A$11.22 billion in October exceeding expectations for a surplus of A$11.0 billion. It was the smallest trade surplus since May, amid softening global demand as more countries battled with a resurgence of coronavirus infections. Follows a downwardly revised A$11.82 billion trade surplus in September (from A$12.243 billion). Exports fell 3.0% m/m or A$1.491 billion to A$43.053 billion. Goods were down 3.0% and services fell 6.0% Imports also slipped 3.0 percent on month or A$887 … Continue reading “Australia October Trade Surplus AUD+11.22bn With Exports Lower on Iron Ore Prices”

Australian Economy Shrank Less Than Expected in Q3

Australia’s GDP shrank -1.9% q/q in Q3, less than market expectations of a 2.7% decline and after 0.7% growth in Q2. This was the first contraction in the economy since Q2 2020 with the damage done from lengthy lockdowns across New South Wales, Victoria, and the Australia Capital Territory due to Covid-19.  Australian Gross Domestic Product (GDP) fell 1.9 per cent in seasonally adjusted chain volume terms in the September quarter 2021 and was up 3.9 per cent through the … Continue reading “Australian Economy Shrank Less Than Expected in Q3”

Australia Placed Well for Recovery says Goldman Sachs

Andrew Boak Goldman Sachs’ Chief Economist for Australia & New Zealand is out with a note positive on Australia’s economic recovery. He said he believed Australia in a good position for recovery extending into the end of this year and next. With the RBA focusing on wages he said he saw slow grinds expected for wage growth and inflation. Goldman noted that to see wage increases, full employment is a critical issue. The wages analysis is in line with Governor … Continue reading “Australia Placed Well for Recovery says Goldman Sachs”

Australian Green Bitcoin Miner Iris Energy Debuts on NASDAQ

Australian green bitcoin miner Iris Energy debuted on Nasdaq Wednesday opening at the $US28 IPO price only to sell off sharply. Trading under the symbol $IREN , which accesses abundant or under-utilized renewable energy to power its operations, fell as much as 22% in its first session and closed down 12.7 % at $US24.45. It didn’t help that Bitcoin prices fell though the day. Australia’s Iris Energy (IREN) is an Bitcoin mining company primarily powered by renewable energy raised its initial public … Continue reading “Australian Green Bitcoin Miner Iris Energy Debuts on NASDAQ”

RBA Says Underlying Inflation at 2.5% Mid-Point Would Not Warrant Rate Rise

Reserve Bank of Australia Governor Lowe in giving a speech after today’s release of the RBA November meeting minutes addressed what it would require for a rate rise in Australia. He spoke of varying inflation degrees and the difference domestically and globally.   Reserve Bank of Australia Governor Lowe speech:  Recent Trends in Inflation  Address to the Australian Business Economists (ABE)Online and Sydney – 16 November 2021  Speech Headlines via Reuters  Latest data, forecasts do not warrant a rate rise in 2022 Economy, … Continue reading “RBA Says Underlying Inflation at 2.5% Mid-Point Would Not Warrant Rate Rise”